Compensation and Benefits
Build a reward system that is fair, competitive and affordable.
About this course
Build a reward system that is fair, competitive and affordable. Over four days you will look at total rewards as a whole, evaluate and grade jobs, and design pay structures with clear ranges and progression rules.
You will use market data to test competitiveness, design incentives and recognition that support performance, and plan a balanced benefits package. You will also learn how to run salary reviews and explain reward decisions clearly to employees.
What you'll learn
- Explain the components of total rewards and their role in attracting and retaining staff
- Apply job evaluation methods to rank and grade jobs
- Design pay structures, grades and salary ranges
- Use salary survey data to judge market competitiveness
- Design incentive and recognition schemes linked to performance
- Plan a benefits package that balances employee needs and cost
- Communicate and administer reward policies fairly
Curriculum
- Components of total rewards
- Reward strategy and organisational goals
- Internal equity and external competitiveness
- Legal and policy considerations
- Purpose of job evaluation
- Ranking and classification methods
- Point-factor methods
- Running an evaluation panel
- Grades and bands
- Salary ranges, midpoints and spread
- Compa-ratio
- Managing pay progression
- Salary surveys
- Matching jobs to market data
- Setting a pay policy line
- Handling inflation and currency changes
- Linking pay to performance
- Individual and team incentives
- Sales commission schemes
- Non-financial recognition
- Common benefit types
- Allowances
- Leave and wellbeing benefits
- Costing benefits
- Payroll interfaces
- Annual salary review process
- Reward policies and documentation
- Communicating reward to employees
Who it's for
HR professionals, reward specialists and managers involved in pay and benefits decisions.
Before you start
- Basic knowledge of HR practice
Part of these Alalamia diplomas
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