An HRCI Pre-approved Training Course
Total Rewards
Understanding Compensation Strategy
and Total Rewards Approach
Classroom Sessions:
INTRODUCTION
Total rewards is defined as tangible and intangible aspects of work that people value and usually form part of a reward strategy. Total rewards in Human Resources aims to attract, motivate, and retain employees by offering a comprehensive package that meets their needs and expectations.
Designing an effective total rewards program in HRM involves comprehensively analyzing the organizations goals and motivations, employee demographics, and market trends. This very practical training course is suitable for anyone wishing to enhance their Human Resources career.
This Glomacs training course will highlight the following:
- Introduces the essential concept of total reward in compensation and benefits
- Investigates reward from an administrative, strategic, and human perspective
- Focuses on how to design a total rewards approach for any workplace
- Bench-marking basics and the strategic impact of total reward
- Provides a toolkit of valuable practices that you can use after the course
Objectives
By the end of this Total Rewards training course, participants will learn to:
- Describe best practices in total rewards
- Explain the economic, psychological, and motivational concepts that influence reward
- Discuss the best way to attract and retain people
- Differentiate between ‘old’ and ‘new’ reward
- Defend the case for a total reward strategy
Training Methodology
Participants in this Total Rewards training course will receive thorough training on the subjects covered by the training course outline. The Tutor will utilise various proven adult learning teaching and facilitation techniques. Training methodology includes a range of engaging, practical exercises, and activities. There will be practical sessions where participants can participate and experience topics. Case studies, videos, small group work, exercises, and feedback will all be used to facilitate learning.
Organisational Impact
Specific benefits to the organization include:
- Practical methodologies that can help improve retention
- Improved employee engagement and performance
- Staff promoting best practices in reward strategy
- Implementation of total rewards best-practices
- HR staff trained in the latest approaches to reward and compensation
Personal Impact
Personal benefits include:
- Development of practical and transferable skills
- Improved skills for an HR career
- Enhanced skills in total rewards
- The ability to understand reward strategy
- Increased understanding of human psychological motivation
WHO SHOULD ATTEND?
This Glomacs training course is suitable for a wide range of professionals but will benefit:
- Human Resource Professionals
- Those working in or recently transferred to compensation, benefits, or reward positions
- HR staff who are responsible for the administration of compensation or reward
- HR Business Partners
- Anyone involved in Total rewards
DAY 1
The Business Context for Total Rewards
- Business Contexts for Total Rewards
- History and Development of the Total Reward Concept
- Total Remuneration Vs Total Rewards
- The Tools Needed to Formulate a Total Rewards Program
- The Advantages and Disadvantages of a Total Rewards Approach
DAY 2
Reward Strategy
- Understanding Strategy
- The Tools Needed to Formulate a Total Rewards Program
- Developing a Reward Strategy
- Content of Reward Strategies
- Putting Strategic Rewards into Practice
DAY 3
Human Psychology & Motivation
- What is Motivation?
- The Benefits of Understanding Behaviour
- Classic Motivational Theories
- Why Maslow was Wrong
- Culture and Motivation
DAY 4
Work-life, Recognition and Retention
- Understanding the Work-life Balance
- Recognition Strategies that Work
- How to Retain Valuable Workers
- Advantages and Disadvantages of Pay-for-Performance
- Why You Need Flexible Benefits
DAY 5
Reward: Looking forward
- Developments in Reward
- Reaching Generation Z
- Bench-marking Basics
- Nationalization Issues in Reward
- Personal Action Planning
- On successful completion of this training course, GLOMACS Certificate with eligible Continuing Professional Education credits (CPE) from National Registry of CPE Sponsor and Re-Certification credits from HR Certification Institute (HRCI), will be awarded to the delegates
Endorsed Education Provider
The use of this seal confirms that this activity has met HR Certification Institute’s® (HRCI®) criteria for recertification credit pre-approval.
GLOMACS is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org
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GLOMACS Training & Consultancy
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