Human Resources Skills: Reward management

Scheduled Dates Locations filtered. Show all UK course locations.

Course Overview

Reward management is the new frontier of human resource management. Whether you are in the HR function or line management, the focus has firmly moved to motivating your employees to deliver your corporate goals. But setting the pay and benefits of your employees at the market rate (in your and their perception) is only the starting point.

Organisations have to go much further now. They need to understand the ways to involve their employees, to get them more committed to the organisation. This new seminar will show you how to do it.

Audience

This programme is a must for any HR or line managers, whether in the public or private sector, who have identified reward as a business critical issue. It has been designed specifically to support:

• Experienced HR managers and officers who wish to specialise in reward, as a refresher or for those who have a particular problem to address
• Newly appointed HR (or reward) officers and assistants who need a fast introduction to the subject
• Finance directors and others with overall responsibility for reward strategies
• Operational managers who have responsibilities for a range of staff who need to understand the concepts, processes and procedures in reward management

Course Outline

1. Reward in context

• Why people enjoy going to work
• Reward in the business context
• Reward in the HR toolkit
• Reward from the employee's perspective
• Elements of a reward system

2. Grading structures

• Establishing internal relativities
• Why have grading structures?
• Types of grading structures
• Analytical and non-analytical job evaluation
• Types of pay structures

3. Equal pay

• Legal context
• EOC Code of Practice
• 'Like work', 'equivalent work' and 'work of equal value
• Avoiding discrimination in pay and job evaluation
• Equal pay reviews

4. Setting salaries

• Sources of pay data
• Factors affecting pay
• Statistics used
• Setting job pay ranges
• Setting grade pay ranges

5. Employee benefits

• Core benefits
• Non-core benefits
• Value of benefits
• Flexible benefits

6. Rewarding performance

• Performance management
• Types of performance pay
• Fundamentals of bonus schemes
• Types of bonus schemes - individual, group, organisation-wide
• Incentives

7. Non-financial rewards

• Types of non-financial reward
• Work/life balance
• Developing the individual
• Creating a good work environment

8. Motivating employees

• Motivators and 'hygiene' factors
• The emotional contract
• Encouraging discretionary performance
• Making work enjoyable

9. Building a long-term reward strategy

• Establishing business goals
• Turning business goals into HR strategies
• Developing a reward strategy
• Content of a reward strategy
• Making a reward strategy effective

Reward management is an essential tool in dealing with:

• Rewarding performance
• Motivation of productivity
• Cost management
• Talent retention
• Equal pay issues
• Managing the 'employer brand'

Human Resources Skills: Reward management / HR-RWM