Compensation, Benefits and Total Rewards Certification Training

Payroll is the number one expense for every company. Therefore, getting this right should be the number one priority for any organisation.

In today's competitive environment, top talent is costly and mobile. Therefore, to avoid the inevitable retention issues or price-wage inflation, organisations are faced with the need to review their compensation packages and take a broader total reward strategic approach. The impact of Covid-19 across the world has changed the perception of pay and reward for employers and employees alike. Working from home, once a rarity, is part of the new normal for many employees. To adapt to the demands of a post-Covid world, companies are adopting a ‘total reward approach, which takes a holistic and all-encompassing approach to the way that employees are paid, or rewarded for joining (and staying) with your organisation. Whilst salaries are important, they are not the only factor that attracts top talent in case study after case study across the world, the employee-manager relationship & career growth opportunities are seen to be equally important to both employee attraction and retention. Holistic reward structures include the basic metrics of salaries or pay, medical insurance, leave periods etc., and expand these benefits on offer to new or existing employees to include a positive work environment & office culture, the possibility of hybrid working from home, training and learning opportunities, career growth, job rotation, corporate perks and a wide range of non-financial incentives.

But a compensation & benefits structure that attracts one person may not be suitable for another. For example, school fees payments may be a great benefit for middle-aged employees with 3 kids; but useless to an unmarried 22 year old fresh graduate. Therefore, organisations need to adopt a flexible approach to their total reward strategy that is tailored to the needs of their employees. This course will identify how to create a total reward structure to meet these objectives and covers the full scope of compensation, including legal rights & practices, and uses global best practice and case studies to explore compensation & benefits strategy, designing and administering a compensation structure, and communicating compensation plans to your organisation.

This course is learner centric and focusses on practical skills. It is activity-based, with each training session offering a range of activities designed to engage and involve delegates in the learning process. Following adult learning theory, each module allows participants to explore, analyse and assess the issues and explore and evaluate possible solutions. The workshop has been designed to accommodate different learning preferences so that activists, theorists, pragmatists and reflectors can all benefit from the learning experience. The facilitators encourage open learning and discussion, passing on not only their own extensive experience but encouraging learning through sharing the knowledge and experience of the delegates. The course contains a wealth of practical examples and case studies as well as some simple tools and techniques that delegates can apply readily within their own organisation.

Enroll now and enhance your competence and knowledge.

Merit Global is a SHRM Recertification Provider.

This training is also accredited by Society for Human Resource Management (SHRM) for continuous learning 12 professional development credits (PDCs) certificate.