Human Resources

Total Rewards and Compensation Strategy Design

Pay decisions are made under two pressures that pull apart: what the market says a person is worth and what the organisation can afford, and a reward strategy is the argument that reconciles them consistently. This course builds it. Delegates work through reward strategy and the behaviour a structure actually encourages, job evaluation and establishing internal relativities that survive scrutiny. Market benchmarking is covered, including reading survey data honestly and choosing a position against the market. Pay structures, grades and ranges follow, along with progression and the cost of movement through them. Variable pay and incentive design are addressed, including the outcomes a badly designed scheme produces. Benefits, allowances and the total package are covered. Pay equity is treated concretely. The course closes on communicating reward, on budgeting an annual review and on defending decisions to managers and staff.