Compensation, Benefit Administration, and Reward Management

This comprehensive 5-day Compensation, Benefit Administration, and Reward Management course provides an in-depth understanding of compensation, benefits, and reward management within organizations.

It aims to equip participants with the skills and knowledge to develop, manage, and implement effective reward strategies that align with organizational goals.

Course Objectives

Upon completion of this Compensation, Benefit Administration, and Reward Management course, participants will be able to:

• Gain a solid grasp of the economic, psychological, and motivational theories underpinning reward systems.

• Learn to evaluate and implement reward strategies and policies that promote fairness and equality.

• Understand how to integrate non-financial rewards into your organization’s overall compensation plan.

• Develop practical skills for designing strategic reward plans tailored to organizational needs.

• Engage in case studies and real-world examples to bridge theory with practice.

Who should attend?

This Compensation, Benefit Administration, and Reward Management course is ideal for Human Resources Managers, Admin Managers, Senior Managers, Directors, Admin Officers, and professionals involved in compensation and benefits, or those seeking to enhance their knowledge in this area.

Training Outline

Day 1: The Context of Compensation, Benefit Administration, and Reward Management

• Understanding Compensation, Benefits, and Reward Management

• Exploring the Psychological Contract

• Total Reward Concepts and Approaches

• Crafting a Reward Strategy

• Aligning HR Strategies with Pay Philosophies

Day 2: Administration of Reward Equality and Pay Disparity

• Effective Reward Administration

• Utilizing Salary and Pay Surveys for Competitive Pay Structures

• Job Evaluation Techniques

• Promoting Equality and Addressing Inequality in Rewards

• Executive Pay and the Pay Gap

Day 3: Performance, Performance-Related Pay, and Motivation

• Performance Management Essentials

• Training and Development for Enhanced Performance

• Best Practices in Performance-Related Pay

• Understanding Contribution-Based Compensation

Day 4: Non-Financial Rewards and Empowerment Employee Benefits

• Leveraging Non-Financial Rewards for Motivation

• Enhancing Employee Participation and Engagement

• Exploring Employee Benefits

• Flexibility in Benefits: Cafeteria Plans and Pensions

Day 5: Total Remuneration and Creating a Reward Strategy

• Structuring Total Remuneration Packages

• Linking Reward Strategies to Organizational and Individual Performance

• Insights from CIPD Pay Management Surveys

• Developing and Implementing a Reward Strategy