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Course Code: HRM 113
2543 Course Visits
Compensation and Reward Management
Course Sector:
HR Strategy and Training
Course Dates and Locations
Choose a date and location to book your seat
No.
Date
Days
Location
Fees
Enrollment
01
5 Days
Rome, Italy $4,950
02
5 Days
Online, Virtual $2,150
03
5 Days
Jeddah, KSA $4,250
Introduction
Training course introducion / brief
The compensation, benefits and reward schemes that these HR professionals manage are not only important for retaining and motivating employees, but also for attracting new people to the company. Salary and incentive packages are one of the main reasons why people apply for specific jobs. The more attractive compensation and benefit schemes tend to generate more interest in new positions.
The right compensation and benefits schemes ensure that hard-working employees are rewarded fairly and in the most cost-effective way for the company. This in turn then motivates employees to sustain their performance. This 5 days Boost training program is designed to cater the needs of HR professionals to enhance their knowledge in compensation and reward management.
Course Objectives
At the end of the training course, participants will be able to
- Understand the relevance of compensation and reward in employee attraction and retention.
- Learn how to attract and keep talented employees.
- Understand how to create more dedicated employees through proper compensation and reward management.
- Understand how to provide strong benefits for employees and cost-effectiveness for companies.
- Recognize the importance of non-financial rewards in attracting, retaining and motivating people
- Design an effective and strategic compensation and reward plan
Course Audience
Who is this course for, and can benefit the most
This training course is designed and beneficial for HR Professionals such as HR Director, HR Generalist, HR Assistants, Personnel Manager, and HR Business Partners.
Course Outline
The course aims and learning outcomes
The Context of Compensation and Reward Management
- Introduction to Compensation and Reward Management
- Total reward concepts and approaches
- Reward Strategy -Identifying what it looks like
- Human Resource Strategies and Policies
- The need for compensation and reward strategy
The Compensation and Reward Strategy
- Introduction to compensation and benefit
- What is Reward and what are the components of reward system
- Main objectives of to give rewards to the employees
- Types of rewards
- Reward Strategy and Reward Policies
- What is Compensation
- Why Compensation and How to set base pay
Managing Reward Equality and Inequality in Pay
- The administration of reward
- Salary and pay surveys
- Job evaluation
- Equality in reward
- Inequality in reward– causes and solutions
- Executive pay & Executive pay gap recording
Performance Reward and Compensation, and Performance Management
- Consequences of pay dissatisfaction
- Theories of Compensation
- Compensation and Reward Management
- Importance of Compensation Management
- Factors affecting compensation Management
Performance Management
- Development and training
- Performance related pay
- Current best practice examples
- Contribution related pay
Inputs of compensation Structure
- Laws governing and affecting Pay Structure
- Recent Trends in Compensation and Reward Management
- How to manage compensation and reward in recession
- Challenges in Compensation and Reward Management
- Course feedback and review
Non-financial Rewards and Empowerment Employee Benefits
- Non-financial rewards
- Employee Participation
- Employee Engagement
- Employee Benefits
- Flexible benefit systems and Cafeteria rewards
- The role of Pensions
Total Remuneration Creating a Reward Strategy
- Total Remuneration for the whole organisation
- Improved performance of the organisation and individual
- Developing a reward strategy
- CIPD Pay management survey
- Review of the Murlis and Wright model of Total rewards
- Personal action planning
Providers and Associations
Providing the best training services and benefits to our valued clients
Boost certificate of completion
BOOST's Professional Attendance Certificate “BPAC” is always given to the delegates after completing the training course, and depends on their attendance of the program at a rate of no less than 80%, besides their active participation and engagement during the program sessions.
ENDORSED EDUCATION PROVIDER
Flexible deadlines
Customized dates accordance to your schedule
Shareable Certificate
Earn certificate upon completion
COURSE METHODOLOGY
Our Training programs are implemented by combining the participants' academic knowledge and practical practice (30% theoretical / 70% practical activities).
At The end of the training program, Participants are involved in practical workshop to show their skills in applying what they were trained for. A detailed report is submitted to each participant and the training department in the organization on the results of the participant's performance and the return on training. Our programs focus on exercises, case studies, and individual and group presentations.
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