Compensation Packages & Salary Structures

Compensation Packages & Salary Structures

INTRODUCTION

Successful management and motivation of employees is clearly linked to employee reward systems. There is much correlation between organizational success and effective reward systems, demonstrating that how employees are rewarded should be linked directly to their overall value to the organization.

This program, Compensation Packages and Salary Structures focuses on the essential elements of employee reward, proposes an holistic approach to reward systems and provides delegates with sufficient input to get started in this fascinating area of HR.

WHO SHOULD ATTEND?

• HR practitioners working with Compensation Packages and Salary Structures
• All staff who work in Human Resources, Personnel or related areas and personnel new to HR or interested in a career in HR
• Line managers would also benefit from an understanding of the topic and those who manage, supervise or have an organizational interest in HR and want to examine modern practices are also welcome

COURSE OUTLINE

Reward Systems

• Introductions
• Objectives – for the seminar and personal
• Defining the roles of HR and line management
• Introduction to reward systems
• The elements of reward
• Reward Management
• Labor markets and economic theories
• Reward philosophies, strategies and policies
• Factors affecting pay levels

Salary Structures

• Pay structures – purpose
• Graded pay structures
• Broad-banding
• Individual job range structures
• Job family structures
• Pay curves
• Spot rate structures
• Pay spines
• Integrated pay structures

Rewarding Individuals and Teams

• Performance related pay
• PRP as a motivator
• Performance management and reward
• Blue collar incentives
• Skill and competency based pay
• Team rewards
• The link to organizational performance 

Benefits Allowances and Pensions

• Non financial rewards
• Benefits and allowances
• Pension schemes
• Employee benefits strategy and policies
• Flexible benefit systems
• Location and subsistence allowances
• Overtime and shift payments
• Stand-by and call-out allowances

International and Expatriate Considerations

• International pay
• Expatriates rewards
• Home or host based approach
• Managing reward systems
• Consolidation exercise
• Review of whole course
• Developing personal development plans
• Program review, summary and feedback