Impact Amplified with HR Defined

LIVE Session 7 Overview: Total Rewards and Compensation Management

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This session focuses on the strategic design and management of total rewards systems to attract, retain, and motivate employees. It emphasizes the integration of financial and non-financial rewards to align employee goals with organizational success.

Key Topics Covered

  • Total Rewards: Comprehensive packages including salary, benefits, incentives, and perks.
  • Compensation Strategies: Pay strategies (lag, match, lead) and decisions around wage levels, structures, and individual pay.
  • Job Evaluation: Methods like ranking, point factor systems, and job classification to ensure fair and equitable pay structures.
  • Pay Metrics: Tools like comp-ratio, red circle rates, and green circle rates for monitoring and managing pay equity.
  • Incentive Plans: Variable pay systems such as bonuses, commissions, gainsharing, and employee stock ownership plans (ESOPs).
  • Motivational Theories: Applying Maslow's Hierarchy, Expectancy Theory, and Equity Theory to design rewards systems that drive performance.

    • This session equips HR professionals with tools to design reward systems that align employee performance with organizational objectives, ensuring fairness, motivation, and competitive advantage.

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    Impact Amplified with HR DefinedBy HRDefined
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