Compensation, Benefit Administration & Reward Management

Introduction:

Smart employers know that keeping quality employees requires providing the right compensation and benefits package. Compensation includes wages, salaries, bonuses and commission structures. Properly compensating employees shows you value them as workers and as human beings. When people feel valued, they feel better about coming into work.

Overall, company morale increases and people are motivated to come to work and do a good job. Additionally, when employees know there are bonuses or commissions, they are increasingly motivated to deliver grander results. Bonus and commission compensation plans become a focal point for success.

The compensation, Benefits Administration & Reward Management training course will utilize detailed case studies and the latest research to explain reward strategies from an administrative, strategic and human perspective. Managing reward is directly linked to performance, productivity, turnover, attitude and the overall health of an organization Compensation, pay, benefits, salary, and even praise make up what is called ‘reward’. The reward is an integral and vitally important part of the fabric of any organization, from small to large and from the government to private

Objectives: At the end of the Compensation, Benefit Administration & Reward Management you will able to:

Describe the key economic, psychological and motivational concepts that influence reward
Discuss the role of reward strategies and policies in an organization
Contribute to the administration of employee-reward policies and processes
Differentiate between the factors that influence employee satisfaction with the reward system
Defend the case for non-financial rewards in attracting, retaining and motivating people
Design a strategic reward plan

Who should attend: Compensation, Benefit Administration & Reward Management training course is ideal for:

Human Resource Professionals
Those working in or recently transferred to compensation, benefits or reward positions
HR staff who are responsible for the administration of benefits or reward
HR Business Partners
Anyone involved in salary, pay and conditions of work
Managers and team leaders involved in reward issues

Course Outlines

Day 1 Performance, Performance Related Pay and Motivation

Performance Management
Development and training
Performance related pay
Current best practice examples
Contribution related pay

Day 2 Administration of Reward Equality and Inequality in Pay

The administration of reward
Salary and pay surveys
Job evaluation
Inequality in reward– causes and solutions
Executive pay

Day 3 Payroll and Frauds

The fraud tree
The HR 4C’s policies
Personnel behavior and commitment
Acceptable and Unacceptable Behavior

Day 4 Non-financial Rewards and Empowerment Employee Benefits

Non-financial rewards
Employee Participation
Employee Engagement
Employee Benefits
Flexible benefit systems and Cafeteria rewards

Day 5 Total Remuneration Creating a Reward Strategy

Total Remuneration for the whole organization
Developing a reward strategy
CIPD Pay management survey
Review of the Murlis and Wright model of Total rewards
Personal action planning

Compensation, Benefit Administration & Reward Management (Course No.033)

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Compensation-Benefit-Administration-Reward-Management

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