Managing Total Rewards
Managing Total Rewards
Overview:
Total Rewards course is an interactive training program designed to provide participants the opportunity to review and evaluate their company’s compensation and benefits scheme in order to build a professional total rewards system balancing internal equity together with external competitiveness.
Objectives:
Upon completion of this course, participants will be able to:
- Analyze a given salary survey
- Balance internal equity with external competitiveness
- Avoid and manage salary compression
- Establish a strategic pay plan
- Design a proper performance management system
- Propose a competitive benefits and services plan
- Improve employee job satisfaction, engagement and retention
Course Outlines:
I. Establishing a Strategic Pay Plan
1. Salary Survey
- 4 forms of equity and how to address each
- Aim of conducting salary survey
- Formal and informal surveys
- Quartiles, percentiles, deciles, median and average
- What else should be surveyed?
2. Job Evaluation
- Identifying Compensable factors
- Determining the relative worth of jobs
- Point Method job evaluation
3. Grading System
- Grouping similar jobs into pay grades
- Job families
- Grading methodologies
4: Pricing Pay Grades
- Plotting the wage curve
- Scatter plot and linear regression
- Market pricing of jobs
5: Fine Tune Pay Rates
- Developing pay ranges
- The minimum starting
- The mid-point
- The maximum
- Correcting out-of-line rates
- Managing red and green circles
II. Pay for performance and Financial Incentives (Variable Pay Plans)
- Main incentives for individual employees
- Pay for group performance
- Organization-wide variable pay plans
- Motivation theories and incentive plans
III. Employee Benefits and Services
- Pay for time not worked
- Vacations and Holidays
- Sick leaves
- Maternity leave
- Insurance benefits
- Retirement benefits
- Services and family friendly benefits
- Cafeteria approach
Training Methodology:
This course is a highly interactive training course, providing each participant the opportunity to exchange views and learn from other’s experiences.
Moreover it includes a range of case studies, group guided discussions, workshops and exercises.
Target Audience:
CEO’s, Top and Middle Managers, Human Resources Directors, HR Managers, HR Specialists Compensation and Benefits.
We can customize the program based on your organizational needs
Date: Sunday, July 17, 2022
Monday, July 18, 2022
Time: 10:00AM - 03:00PM
Duration: 2 Days
Facilitator
Magued A. Naguib
HR and Management Consultant
Multitask Medical Doctor with more than 30 years of diversified experience in HR and management consultations.
The main areas of expertise are; talent management, talent
development and talent assessment. Special experience in training and curricula development.
Lecturer on Doctorate of Quality Management “DQM” (AASTMT) and Masters of Business Administration “MBA” (Bloom Business School – The International Business School of Scandinavia)