Compensation Packages and Payrolls Structure

Introduction:

Successful management and motivation of employees is 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 Payrolls Structures focuses on the essential elements of employee reward, proposes a holistic approach to reward systems, and provides delegates with sufficient input to get started in this fascinating area of HR.

Targeted Groups:

• HR Managers
• HR Professionals
• Payroll & Compensation Personnel
• Employees who want to get new skills to improve their career

Course Objectives:

At the end of this course the participants will be able to:

• Discuss the concepts of reward systems
• State the elements of reward systems
• State the purpose of reward systems from the organizational and employee perspectives
• Compare different types of salary and pay structures
• Consider the impact of performance-related pay
• State the uses of different types of benefits and allowances
• List factors impacting on International pay and expatriate rewards

Targeted Competencies:

• Deciding and initiating action
• Working with people
• Relating and networking
• Presenting and communicating
• Analytical thinking
• Applying expertise and technology
• Formulating concepts and strategies
• Following instructions and procedures

Course Content:

Unit 1: Introduction to Reward Systems:

• Defining the roles of HR and line management
• Introduction to reward systems
• The elements of reward
• Reward Management
• Labour markets and economic theories
• Reward philosophies, strategies, and policies
• Factors affecting pay levels

Unit 2: Salary Structures:

• Definition of a salary structure
• 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

Unit 3: 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

Unit 4: 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

Unit 5: 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