Course Topics

Compensation and Benefits

Course Overview:

This course helps managers understand the concepts of compensation and benefits and how they are used by organisations to achieve their strategic goals. The course explores the design of a reward structure and evaluates the types of pay systems and employee benefits are effectively implemented to support organisational and individual performance.

Who will benefit from attending this Training?

This course is designed for middle managers, functional senior managers, generalist HR professionals and anyone interested or with responsibilities in the area of compensation and benefits.

Organisational Impact: Why should your company invest in you?
  • You will add value to the organisation by being able to:
  • Understand how compensation and benefits can impact on an organisation
  • Review and compare your organisation’s programme against other organisations
  • Understand the internal and external influences on compensation and benefits
Personal Impact: How will you benefit from your Invested time? You will be able to
  • Define the core components of a compensation and benefits system
  • Review pay structures
  • Develop skills to carry out job evaluations and grading methods
  • Understand and manage the motivational links between pay and performance
  • Describe the mandated and cafeteria benefit options available and how they contribute to the overall strategy
Course Content: Seminar Outline: The Structured topics

Compensation and Benefits in an organisational context

  • Understanding the role and purpose of compensation and Benefits strategy
  • What the strategy should contain
  • Effective management of a compensation and benefits strategy

Exploring Compensation and the role in Performance Management

  • Definitions of pay
  • Understanding Performance Related Pay
  • Exploring alternative approaches to Performance Related Pay
  • Individual and group activity: Identify the impact of a range of performance pay options on the employee and the organisation

Compensation Systems

  • Understanding a Total Reward strategy
  • The role and approaches of strategic reward
  • Understanding the connections to organisational HR strategy
  • Group activity on outlining the reward strategies in their organisations

Developing a reward strategy

  • Understanding the use of financial and non-financial rewards
  • Defining flexible and voluntary benefits
  • Identifying the internal and external factors that need to be considered
  • Individual and Group Activity on the importance and impact of the factors

Collecting the data needed to support strategy development

  • Tools and techniques to support the analysis
  • Market sector, labour catchment and mobility, competitor activity.
  • Understanding legal obligations
  • Group Activity: Making sense of the data analysis and evaluation

Total Reward and links to HR strategy

  • Explain the links to corporate strategy and business objectives
  • Explore the impact on the recruitment and retention of employees
  • Explain how it can help staff engagement
  • Group Exercise: Developing a Total Reward System

Designing and using Pay Structures

  • Understanding the rationale for pay structures
  • Understanding market pricing approaches
  • Different approaches using pay grades and bands
  • Using Job Families
  • Group exercise on designing a pay structure

Understanding Job Evaluation Processes

  • Explaining the purpose and benefits of job evaluation
  • Setting out what needs to be considered
  • Establishing the process
  • Different methods of job evaluation
  • Practical Exercise on carrying out a Job Evaluation

International Reward Strategy development

  • The three main approaches
  • Critical Aspects of the approaches
  • Alternative systems
  • Additional allowances
  • The taxation question
  • Group activity on International Reward Strategy

Effective Management of Compensation and Benefits Systems

  • Review of the key factors
  • Cultural Change implications
  • Good practice application
Personal Development
  • Action planning - the essential next steps
  • Continuous professional development - what next?
Training Methodology

The training process is based on a carefully planned mix of succinct tutor input - with practical illustration of tools and concepts, group work on case studies (all video based - and lively), feedback, and selective work on individual issues in pairs. Team involvement and working enable a strategy to be created from start to finish. The Training is based on the 4 mat systems to enable complete learning. There will also be some opportunity for role play. You will receive an electronic toolkit within the material for subsequent everyday use.

We can come to you !

Did you know Synergy can come to you and deliver this workshop ‘In Company’ at your own venue or location. If you have three or more people who you would like to benefit from attending this workshop our trainer can travel to you and deliver the same specification of course for your staff at a fraction of the overall cost.

If you’d like to know more about this option email us at ceo@groupsynergy.co.uk  – our operations team manages all of our ‘In Company’ events and we can talk you though the logistics, pricing and whether you’d like the workshop as advertised here or something tailor made just for your business.

We have several packages on offer so contact us today.

What is Continuing Professional Development (CPD)?

Continuing Professional Development (CPD) is a personal commitment to keeping your professional knowledge up to date, improving your capabilities, proving commitment and competency in your profession. It focuses on what you learn and how you progress throughout your career, helping you gain more credibility within your industry, with your employer, clients and gain competitive edge over your peers.

Being actively committed to CPD may in the future:
  • Improve your Resume
  • Maintain professional recognition
  • Showcase your achievements, attributes and your brand
  • Accelerate your career prospects
  • Deliver job satisfaction: ensuring you are Career focused
  • Reassure your Employers and Stakeholders that you are upto date and competent
How do I gain CPD recognition

By attending Synergy Courses you can be assured that attendance, completion and certification will be rewarded by CPD points. To help advance your professional status CPD recognition is awarded on both public workshops and in-house courses, being dependent on the number of hours spent learning. On request Synergy Training Group will provide a certificate of attendance for you to use as evidence and to attach to your record card.

A number of our courses are accredited, endorsed or approved by a number of Learning & Development and Professional Bodies and Associations for more detail please contact us at ceo@groupsynergy.co.uk 

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