Attract, Motivate and Retain Employees with an Effective Rewards Program

Learn what is required to formulate a rewards program that has the power to attract, motivate and retain—total rewards. Participants are introduced to the total rewards model and each of its components. Emphasis is given to the five elements of total rewards: compensation, benefits, work-life, performance and recognition, and development and career opportunities.

• Gain an understanding of total rewards management
• Discover the five elements of total rewards
• Understand the critical role of the main drivers — organizational culture, business strategy and human resources strategy
• Learn the process of designing a successful total rewards strategy

Who Should Attend

This course is designed for professionals new to human resources, as well as HR generalists or line managers who want a basic overview of the components that can create an effective balance in employee rewards tools.

What You Will Learn

Introduction to Total Rewards

• The evolution of rewards
• The total rewards model
• The total rewards approach
• The total rewards strategy

Compensation

• Elements of compensation
• Building a job worth hierarchy
• Components of a base pay structure
• Types of base pay
• Types of pay adjustments
• Variable pay

Benefits

• Elements of benefits
• Factors influencing benefits
• Income protection programs
• Pay for time not worked programs

Work-Life

• The work-life professional
• The work-life portfolio

Performance and Recognition

• Performance management
• Performance management process phases
• Recognition program

Development and Career Opportunities

• Conduct annual development and career opportunities discussion
• Learning opportunities
• Types of development and career opportunities

Total Rewards – Putting It All Together

• Revisiting the total rewards model
• Drivers of the total rewards strategy
• The total rewards strategy
• The total rewards design process
• Total rewards design considerations