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ICTD International Centre for Training and Development

Designing a Compensation Benefit Scheme & Ensuring Satisfactory Performance

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Description

Employee benefits are optional, non-wage compensation provided to employees in addition to their normal wages or salaries. These types of benefits may include group insurance (health, dental, vision, life etc.), disability income protection, retirement benefits, daycare, tuition reimbursement, sick leave, vacation (paid and non-paid), funding of education, as well as flexible and alternative work arrangements.

Course Objectives

  • Explain performance management – definitions, aims and developments.
  • Develop tangible and intangible measures of performance.
  • Establish business based objectives – including SMART targets and measures.
  • Explain the performance management cycle and how to manage it.
  • Complete the performance management cycle including end of year reviews, using competencies and the various rewards programs.
  • As a result of attending this workshop delegates will have developed a clearer understanding of Reward philosophy and strategy
  • Have a better understanding of how the component parts of reward strategy fit together
  • To explore some of the issues surrounding the effective management of the human resource
  • To understand why ‘staff’ are the most expensive resource of the organization
  • To evaluate ‘new’ practices that might benefit your organization

Course Outline

Module 1:

Performance Management – Introduction and Definitions

  • Objectives of Performance Management
  • Key Terms and Uses
  • Corporate Values - Their Importance
  • The Nokia Story
  • The Annual Performance Cycle – Overview
  • Performance Management – The Mistakes
  • Great Performance Management!

Establishing Effective Objectives

  • Cascading – Vision, Mission and Strategies
  • Performance Criteria – 3 Types
  • The Impact of Critical Success Factors on Performance
  • Key Result Areas
  • Key Performance Indicators (KPIs) and Units of Measure
  • Financial and Non-Financial KPIs
  • SMART Criteria – Establishing Individual Goals and Measures
  • Measuring the Semi-Tangible Factors/Competencies

Module 2:

Managing Performance

  • Statistics on People and Performance
  • Continuous Reviews and Assessments
  • Performance Gaps
  • Why Things Go Wrong with Performance
  • Common Causes of Poor Performance
  • Measuring Performance – Scoring Systems
  • Performance Motivators
  • Tips for Improving Performance
  • Importance of Communication in Performance Management

The Importance of Coaching

  • Coaching Responsibilities
  • Poor Performance Counseling
  • Benefits of Good Coaching
  • Characteristics of a Good Coach
  • Elements of a Good Coaching Session
  • Good Habits of Effective Listeners
  • Diagnosing Performance Problems
  • Five Steps of Coaching for Optimal Performance

Module 3

Conducting Effective Performance Appraisals

  • Planning Performance Appraisals
  • Preparing for the Appraisal
  • Avoiding the "But" Trap
  • Objective not Subjective
  • Conducting Effective Appraisal Meetings
  • Common Appraisal Errors
  • Roles of Employees and Managers

Other Dimensions in Performance Management

  • Competency-Based Performance Management
  • Performance Management – It’s Not Just About Pay
  • Forced Ranking Systems
  • Multi-Rater Assessments

Module 4

Compensation and Benefits - Good Organizational Practice

  • Philosophy of reward
  • Pay structures and systems
  • The psychological contract
  • Reward strategies
  • Job grades
  • Career mapping
  • Job evaluation
  • Pay surveys

Compensation and Benefits - in Context: Motivation Models

  • Performance management
  • Competency frameworks
  • Performance related pay
  • Money and motivation
  • Team rewards
  • Upward appraisal
  • 360 appraisal
  • Contingent pay

Module 5

Equality and Diversity

  • Recognition schemes
  • Discrimination and diversity
  • Equal pay
  • Equal pay audits
  • Job analysis

Current Good Practice

  • Flexible benefits
  • National minimum wage
  • Sales staff
  • Profit sharing
  • Case study
  • Review of learning
  • Action planning

Course Methodology

A variety of methodologies will be used during the course that includes:

  • (30%) Based on Case Studies
  • (30%) Techniques
  • (30%) Role Play
  • (10%) Concepts
  • Pre-test and Post-test
  • Variety of Learning Methods
  • Lectures
  • Case Studies and Self Questionaires
  • Group Work
  • Discussion
  • Presentation

Who should attend

  • Line managers and supervisors who are held accountable for the performance of the organization and its employees and Human Resources professionals who are responsible for the design and implementation of performance management systems.
  • Human Resources staff who are responsible for the administration and management of benefits and reward
  • Compensation and Benefits specialists who are new to the area or are looking for a refresher program
  • More senior HR staff who are interested in the ‘Strategic’ value of the Compensation and Benefits area
  • Line managers who are responsible for managing and motivating staff – and need a better understanding of how to manage remuneration

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