Developing a Reward Strategy
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Identify the major factors that need to be taken into account when developing an effective reward strategy for your organisation.
This two-day Developing a Reward Strategy course provides a practical introduction to the process of reward strategy development through action planning, case studies and group discussions. You'll gain the skills, theory and specialist knowledge needed to implement effective reward strategies, and associated processes, to build on your organisation’s success. As part of the programme you'll build the first steps to develop the reward strategy for your organisation.
This course can make a huge difference to you and your organisation in a number of ways. You'll learn to improve employee and organisational performance with a competitive reward strategy to gain maximum return from your reward investment.
What is a reward strategy?
- objectives and success measures
Understanding the reward environment
- business environment and organisational needs
- HR environment
- employee motivation and needs
- organisation values
Reward strategy design
- total reward
- strategy development
- links with other HR programmes
- developing the plan, tools, communication, success measures
- the change process
- overview of reward tools and techniques (as appropriate for the group)
- total reward
- programme options
- success measures
Evidence-based strategy design
- understanding the framework
- evidence-based success criteria
- Guiding principles
Reward strategy development
- the process of developing a reward strategy
- current practice
Implementing your reward strategy
- the paradoxes
- barriers to success
- learning from extensive case studies
- develop the first building blocks for your reward strategy.
Who should attend
Developing a Reward Strategy is perfect for you if you’re a senior HR or reward practitioner with responsibility for remuneration strategy, policy and development. The course is suitable for those in the private, public and voluntary sectors. You’ll discover the theoretical and practical issues in developing a reward strategy, and how to develop your own reward strategy unique to your organisational circumstances.