Strategic Total Rewards
- June 5, 2023 - June 6, 2023
- 9:00 am - 2:00 pm GMT+4
- Virtual Classroom
This course aims to provide a broad understanding of total reward policy, philosophy and practices that are coherently designed to align with an organization’s culture, structure and work processes, in order to best deliver its strategic objectives.
Course participants will learn concepts of best pay practices, pay alignment and the effective linkage of reward to performance management, as well as optimizing the non-financial elements of reward to ensure an effective Total Reward Strategy. In addition, students will gain insight into the smarter use of pay benchmark data and systems, compensation strategy for special groups, international compensation for expatriates, as well as government and union influences on reward practices.
The course covers the difference between the total rewards programs of today’s organizations and those of the past focusing on core compensation programs, such as base pay, short-term incentives, and long-term incentives, whilst also considering non-financial elements of reward, that all go to significantly influence the Employer’s Value Proposition.
At the end of this course, you should understand the total rewards programs design strategy, and how your organization can better use its finite resources to attract, retain, motivate, and engage the talent it needs to deliver its strategic goals and objectives.
Key course takeaways
After attending and participating in this course, you will be better able to:
- Recommend strategic objectives for total reward design and management
- Understand pay equity concepts and approaches
- Judge the outcomes required from various strategic pay considerations at the organizational level
- Contrast concepts like best pay system, internal pay alignment, pay benchmarking, and performance based pay
- Drive organizational performance through effective variable pay regimes
- Illustrate the impact of reward policy choices at the organizational level
- Making sense of and optimizing the use of salary surveys
- Delivering a total rewards strategy
- Drive employee engagement through reward
- Future proof strategic planning
- Examine the impact of government policy, market forces and union roles in total reward design and management
- Consider the impact of Covid-19 on Total Reward Strategy in the era of the “new normal”
Strategic Total Rewards course takes a long-term approach to how an organization’s reward policies and practices can support its business objectives. The concept of ‘total’ reward covers all aspects of work that employees value, both tangible and intangible, and may form part of an overall reward strategy.
Knowing what is required for an effective total rewards strategy will set you apart as a human resources professional. In this course, you will learn how to design and implement a total rewards program that meets your organization’s specific needs and includes an ideal mix of rewards.
This course is designed for professionals who want a basic overview of the components that can create an effective balance in employee rewards tools. This includes professionals new to human resources, HR generalists and line managers.
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Exams are managed by SHRM, it is responsible for the certification process and controls the best practices in it.
- US$1,900 + VAT
- For information regarding payment terms, cancellation rights, transfer policies and fees, please contact us.