Objective

To understand the practical application of contemporary tools in implementing competitive reward systems to ensure talent attraction, retention and motivation employees for value-add contribution to the organisations.

Content

1. Introduction: An Overview
   
   
   • Employee compensation: Perspectives
   • Employee Needs and Drives
   • Why do people work?
   • Determinants of Individual Compensation
   • Transactional and Relational Elements
   • Talent Attraction and Retention Strategies
   • Group Activity 1
2. Building an internal wage structure
   
   
   • Aims of salary administration
   • Characteristics of formal salary structure
   • Basic features of salary grade
   • Market pay line
   • Calculating ranges and mid-points, minimum and maximum
   • Exercise 1
   • Exercises with practical examples 2
   • Steps in developing a pay grade
   
   
3. The Job Evaluation Process
   
   
   • Job evaluation – introduction
   • Job evaluation methods
   • Factors to consider when selecting a JE method
   • Exercise using ranking method 1
   • Advantages and disadvantages
   • Exercise using ranking method 2
   • Exercise using paired comparison method 3
   • Alternatives to Job Evaluation
   
   
4. Reward Policies, Procedures and Compliance
   
   
   • Objectives of policies
   • Market rate and equity, attraction, retention and talent management policies
   • How to read the Salary Surveys and use the data effectively
   • Exercise 1 on reading Salary survey tables
   • Policies Linking rewards to business performance
   • Exercise 2 on bonus distribution using practical examples
   • Procedures and example
   • Salary manual
   • Group Activities 1 and 2
   
   
5. Developing and maintaining a productive psychological contract
   
   
   • The concept of psychological contract
   • Characteristics of psychological contract
   • Changing nature of psychological contract
   • The importance of the psychological contract
   • Developing and maintaining a productive psychological contract
   • Review activity
   
   
6. Financial and Non-financial Rewards
   
   
   • Types of motivation at the work place
   • Financial rewards and the link to motivation
   • Non-financial rewards and employee motivation
   • Group exercise on a case
   • Flexible benefits – implementation methods
   • Sample of individual plan A8
   
   
7. Learning and Development Beyond Current Job
   
   
   • Relational rewards
   • Employer branding
   • Recognition issues
   • Future growth and opportunity -- Career advancement opportunities, Performance improvement and feedback
   • Quality of work – value of work and its perception
   • Work/life balance – recognition of lifecycle needs/flexibility
   • Group activity
   
   
8. Flexi-wage Implementation
   
   
   • Rigidity of wage system prior to 1986
   • Principles of flexi-wage system
   • Models of wage reform
   
   
9. Compa-ratios
   
   
   • Technique and purpose
   • Retention staff using this method

Duration: Two full days
Training methodology: lectures, case studies, exercises, group activities and presentations