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Description

Explore the internal and external environment in which reward needs to be managed when developing effective reward programmes

This wide-ranging Reward in Context course reflects on the impact modern reward management has on company reward schemes, regardless of your company’s size. This course is practical and interactive; using case studies to deliver specialist knowledge deemed critical to aligning reward strategy with the business; HR and organisational strategy. It addresses the reward environment in which the organisation operates and looks at the resources required to manage reward schemes.

Benefits

By the end of the Reward in Context course you will be able to:

  • align reward policies and strategy with the business, HR and organisational strategy
  • identify the reward environment in which the organisation operates
  • take a planned approach to managing change in relation to reward
  • assess the impact of corporate governance on executive reward and the operation of the remuneration committee
  • explain the requirements of equal pay legislation
  • determine the resources required to support and manage reward schemes
  • identify the key risk factors related to reward.

Programme

HR and Reward strategy

  • business, HR and reward strategy
  • guiding principles and reward philosophy
  • the impact of scale and sector
  • the psychological contract, motivation and engagement.

Managing Reward

  • market intelligence and awareness of competitive practice
  • employment and discrimination law as it applies to reward programmes, including international differences
  • line manager involvement and responsibilities
  • diversity and equal pay.

Communicating reward

  • importance, levels and methods of communication
  • employee and line management involvement .

Change Management

  • mergers and acquisitions
  • due diligence and data rooms
  • post-acquisition harmonisation
  • public sector change processes in focus
  • key change management considerations.

Executive remuneration

  • as an influence on the pay environment
  • the role of the remuneration committee
  • the UK Corporate Governance Code, NAPF, ABI and RREV, European and international regulations
  • annual report of the remuneration committee
  • effective use of independent advisers
  • conducting remuneration committee meetings
  • international and sector comparisons.

Managing risk

  • identifying the major risks in reward
  • action plans to manage risk.

The reward function

  • alternative approaches to reward function design
  • using reward consultants effectively
  • career paths.

Action planning

Who should attend

The Reward in Context course is for you if you’re an HR generalist, or reward practitioner, with an interest in (or responsibility for) maximising the effectiveness of reward polices and strategies in line with broader organisation contexts. It covers important aspects of reward such as executive pay and the remuneration committee.

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