EFFECTIVE REWARD AND COMPENSATION SYSTEMS FOR ORGANISATIONS

Overview

One of the effective means of boosting organisational performance is the maintenance of an effective rewards and compensation system. This is because individual employee performance and overall organisational performance are significantly affected by the type of reward system used by organisations. Researchers have shown that organisations perform optimally when their employees are properly rewarded with efficient salaries and wages. These enhance employee commitment, creativity, productivity and response to the dynamics of the environment. Organisations can boost their performances by installing and maintaining effective reward systems.

This course has been structured to acquaint participants with the elements of performance-friendly reward and compensation systems, in order to stimulate them to adapt the systems in their organisations.

Who to Attend

Executive and Senior Management and Team Members responsible for human resource management and development in Organisations.

Objectives

The course aims at:

1. Introducing participants to the various reward and compensation systems.
2. Equipping participants with the techniques of formulating and implementing performance – inducing reward systems.
3. Enhancing the ability of participants to use the reward system to boost the performances of their organisations

Outline

• Payroll Obligations and Requirements.
• Reward Management System.
• Strategic Reward Management.
• Tools and Techniques of Reward Management.
• Grading and Wage Structure.
• Wages and Salaries Survey and Review.
• Wage Policies.
• Reviewing and Implementing Strategic Rewards.
• Evaluating Rewards: Grading and Wage Structure.
• Industrial Relations Practice and Reward Management.
• The Relationship between Rewards and Performance.
• Combining the Use of Performance and Strategic Rewards.
• Appraising, Assessing, and Rewarding Performance.
• Performance Related Pays and Rewards.
• Emerging Trends in Rewards and Compensation Packages.

Booking Information

Fee: £ 2,597