Course details
Successful management and motivation of employees is clearly linked to employee reward systems. There is much correlation between organisational success and effective reward systems, demonstrating that how employees are rewarded should be linked directly to their overall value to the organisation.
This conference, Compensation Packages and Salary Structures focuses on the essential elements of employee reward, proposes an holistic approach to reward systems and provides delegates with sufficient input to get started in this fascinating area of HR.
CONFERENCE OBJECTIVES
- Discuss the concepts of reward systems
- State the elements of reward systems
- State the purpose of reward systems from the organisational and employee perspectives
- Compare different types of salary and pay structures
- Consider the impact of performance related pay
- State the uses of different types of benefits and allowances
- List factors impacting on International pay and expatriate rewards
CONFERENCE SUMMARY
This programme will allow participants to explore a complete overview of the topic. From the initial introduction we will explore various issues in sufficient detail to allow participants to consider the implementation of new modern approaches into their organisations and weigh up the potential benefits and advantages of each approach. The highly practical approach will enable participants to focus on issues that impact most on them and their organisations.
CONFERENCE OUTLINE
Introduction to Reward Systems
- Introductions
- Objectives - for the seminar and personal
- Defining the roles of HR and line management
- Introduction to reward systems
- The elements of reward
- Reward Management
- Labour markets and economic theories
- Reward philosophies, strategies and policies
- Factors affecting pay levels
Salary Structures
- Definition of a salary structure
- Pay structures - purpose
- Graded pay structures
- Broad-banding
- Individual job range structures
- Job family structures
- Pay curves
- Spot rate structures
- Pay spines
- Integrated pay structures
Rewarding Individuals and Teams
- Performance related pay
- PRP as a motivator
- Performance management and reward
- Blue collar incentives
- Skill and competency based pay
- Team rewards
- The link to organisational performance
Benefits Allowances and Pensions
- Non financial rewards
- Benefits and allowances
- Pension schemes
- Employee benefits strategy and policies
- Flexible benefit systems
- Location and subsistence allowances
- Overtime and shift payments
- Stand-by and call-out allowances
International and Expatriate Considerations
- International pay
- Expatriates rewards
- Home or host based approach
- Managing reward systems
- Consolidation exercise
- Review of whole course
- Developing personal development plans
- Programme review, summary and feedback
Course Location
About PetroTech
Knowledge
The adage that “knowledge” is power holds very true in this industry. In order to maximize results we are constantly updating and upgrading ourselves. This commitment to ongoing skills development is one of the reasons we are success, the belief that there is a “better way to do things” is what motivates us each and every day. By aligning with us you are going to benefit from our years of expertise in real world scenarios. Classroom learning is great but there is no substitute to real world experience which is what we are bringing to the table.
Quality
Billionaire investor Warren Buffett said “price is what you pay but quality is what you get” and that expression is very true. With use we understand that your time is very valuable and you only want the best and most current industry related knowledge which is what we bring to the table. Instead of giving you massive amounts of inaccurate or outdated information you get precisely what you want, the most current knowledge so you can make truly informed decisions that will directly impact productivity and your bottom line. When results are what you are looking for then the choice is clear, we are your partners in success.
Innovation
Technology has revolutionized the way knowledge is disseminated in throughout the world, what use to take months or even years to reach the masses can be done in a few hours ! In order to remain relevant and viable we need to embrace innovations. The challenge with innovation is knowing when to implement it and what type of return you can expect from it. Instead of risking your time and resources we have the answers for you, Since we are at the vanguard of the industry whenever there is a fruitful innovation we will be there providing you with the information needed to make the right decision.
Respect
We understand you may have unique need so we provide a tailored made (bespoke for our U.K. friends) approach that will address your questions in the most conducive manner possible. Respect to us means putting your interests, your needs at the forefront of our mind. You will see how genuine we are and that you not just “some customer” you are our partner in success just as much as we are your partner in success. We firmly believe in the “golden rule”, treat others with graciousness, courtesy and respect. Come experience the difference that quality and respect makes and you will truly be amazed.
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