Salary structuring can be a tough balancing act as you need to design one that meets organisational objectives and goals whilst sustaining major motivators and key competencies in job roles. Implementing salary structures, remuneration and variable pay schemes can be a challenging one. To determine salary structures, remuneration and variable pay schemes, you need credible information and thorough consideration to be able to make an informed decision.
With this in mind, this two-day training programme – Salary Structuring, Remuneration and Variable Pay Schemes has been designed to guide you through the fundamentals, principles and design of salary structures, remuneration and variable pay schemes.
As you learn and understand the relevant principles and methodologies, you will then be able to interpret salary structuring, remuneration and variable pay schemes and link it to other areas of human resources. This workshop will benefit human resource and remuneration professionals who are interested in getting a constructive approach to designing and implementing salary structures and variable pay schemes that work.
Introducing you to Remuneration Strategy
- Showing you how how to develop a remuneration strategy
- Understanding the drivers of remuneration strategy
Overview of Salary Structures
- Recognising the role of salary structures
- Examining how salary structures have developed in South Africa and overseas
Linking Your Salary and Remuneration Structures to Organisational objectives/goals
- Defining the types of salary structures
- Assessing the effectiveness of your organisation's salary structure
- Meeting your organisational objectives/goals with an appropriatesalary structure
- Knowing when to consider a new salary structure
- Selecting a salary structure that meets and contributes to organisational objectives and across the various functions
- Common failures/pitfalls in salary/remuneration structures
Grading your Salary Structure
- Designing, grading and salary structures
- Changing or modifying salary structures
- Managing progression within and between grades
- Overcoming the challenges of changing, grading and salary structures
Broadbanding
- Exploring alternative broadbanding models
- Knowing the pros and cons of broadbanding frameworks
- Implementing broadbanding frameworks - pitfalls and challenges
- Benchmarking broadbanded pay structures
Implementing New Salary Structures
- Examining the role of salary surveys in salary structure design
- Negotiating with staff about salary structures
- Benchmarking and matching roles in the new structure
- Managing employee communication
- Overcoming challenges in implementing new salary structures
Integrating Salary Structures and Variable Pay Schemes with Wider HR Initiatives
- Linking salary structures to competencies
- Recognising what role does variable pay have in salary structures?
- Developing performance and variable pay linkages
- Managing rewards expectations
Overview of Variable Pay Schemes
- Identifying nature and purpose of variable pay schemes
- Designing variable pay schemes around the key performance measures and desired competencies
- Knowing short term variable pay schemes
- Looking into Long term variable pay schemes
- Inspecting common variable pay methodologies in the private and public sectors
Choosing a Suitable Variable Pay Scheme
- Providing you with Simple steps to help determine variable pay schemes suitable for your organisation
- Using the variable pay scheme as a strategic tool to enhance organisational competitiveness
- learning how variable pay schemes help organisations attract and retain talent and promote long term employment security
- Overcoming Challenges in developing variable pay schemes
Implementing Variable Pay Schemes
- Identifying incentives for achievements
- Recognising what factors to consider in the design and implementation of variable pay schemes
- Analysing key decision points and critical success factors
- Managing the implementation process - practical do's and don'ts
Integrating Non-Monetary Rewards and Incentives into Overall Remuneration and Variable Rewards Schemes
- Adopting a total remuneration approach
- Do non-monetary rewards support good organizational behaviour?
- Do non-monetary rewards improve motivation towards organisational goals?
- Tailoring non-monetary rewards to improve employee satisfaction, motivation and company performance
Linking Pay to Performance Management
- Defining effective performance management for your organisation
- The link between pay for performance and organizational ROI Opportunities
- Aligning employee effort to the organisational mission
- Attracting and retaining top performers and managers
- Developing performance metrics that maximises profit
- Achieving a balance between cash and non-cash rewards
- Measuring, tracking, reviewing and rating performance
Retention of key staff
- Looking at global trends
- Investigating what works and what doesn’t
