Total Rewards and Compensation Strategy Leadership Training Course: Designing Competitive and Equitable Compensation Frameworks

Introduction

In today's dynamic talent market, a strategically designed Total Rewards system is far more than just salary; it's a powerful tool for attracting, motivating, and retaining top talent while aligning employee contributions with organizational goals. As companies navigate intense competition for skilled professionals and increasing demands for pay equity and transparency, leaders must master the art and science of crafting compensation frameworks that are not only competitive but also fair, sustainable, and reflective of their unique business strategy. This 5-day intensive training course is meticulously designed for HR professionals, senior leaders, and compensation specialists seeking to elevate their expertise in Total Rewards. Participants will gain the strategic insights and practical tools necessary to design, implement, and manage compensation and benefits programs that drive performance, foster engagement, and secure a significant competitive advantage in the war for talent.

This comprehensive program delves into the intricate components of Total Rewards, from base pay and variable compensation to comprehensive benefits, well-being programs, and non-financial recognition. Participants will learn how to conduct robust market pricing, develop pay structures, address pay equity challenges, and measure the return on investment of their rewards strategies. The course emphasizes practical application through real-world case studies and interactive exercises, empowering attendees to create a holistic and equitable Total Rewards philosophy that supports their organization's culture, enhances employee value proposition, and directly contributes to achieving critical business objectives and long-term success.

Duration: 5 days

Target Audience:

  • HR Directors and Managers
  • Compensation and Benefits Specialists
  • Total Rewards Leaders
  • HR Business Partners
  • Senior Leaders and Executives (CFOs, CHROs)
  • Talent Acquisition Leaders
  • Consultants specializing in Compensation & Benefits

Objectives:

Upon completion of this course, participants will be able to:

  • Understand the strategic role of Total Rewards in attracting, motivating, and retaining talent.
  • Design and implement competitive and equitable compensation structures.
  • Develop effective variable pay programs aligned with business performance.
  • Manage comprehensive benefits and well-being programs strategically.
  • Analyze market data and ensure compliance with compensation regulations and best practices.

Course Modules:

  1. Strategic Total Rewards: Connecting Compensation to Business Strategy
  • Defining Total Rewards: Beyond just pay.
  • The strategic imperative of Total Rewards in attracting and retaining talent.
  • Linking Total Rewards philosophy to organizational strategy, culture, and values.
  • Understanding employee value proposition (EVP) and its role in Total Rewards.
  • The impact of market dynamics and economic trends on compensation strategy.
  1. Base Pay Structures and Design
  • Job analysis, job descriptions, and job evaluation methodologies.
  • Designing effective pay structures: Pay grades, salary ranges, and broad bands.
  • Conducting market pricing and compensation benchmarking.
  • Managing geographic pay differentials and remote work compensation.
  • Principles of pay equity and transparency in base pay.
  1. Variable Pay Programs: Incentive and Performance-Based Compensation
  • Types of variable pay: Short-term incentives (bonuses), long-term incentives (LTI), sales commissions.
  • Designing effective individual, team, and organizational incentive plans.
  • Linking variable pay to key performance indicators (KPIs) and business outcomes.
  • Understanding equity compensation (stock options, RSUs) and their role.
  • Communicating variable pay plans effectively and ensuring fairness.
  1. Comprehensive Benefits and Well-being Strategies
  • Overview of mandatory and voluntary benefits programs (health, retirement, leave).
  • Designing competitive and cost-effective benefits packages.
  • The growing importance of employee well-being programs (physical, mental, financial).
  • Leveraging benefits to enhance employee experience and engagement.
  • Managing benefits administration and vendor relationships.
  1. Executive Compensation and Governance
  • Unique considerations for executive compensation design.
  • Linking executive pay to long-term shareholder value and ESG performance.
  • Role of the compensation committee and independent directors.
  • Regulatory compliance and disclosure requirements for executive pay.
  • Best practices in executive severance and golden parachutes.
  1. Global Compensation and International Mobility
  • Navigating global compensation challenges: cultural, legal, and economic differences.
  • Designing compensation strategies for multinational organizations.
  • Managing expatriate and international assignee compensation.
  • Understanding global tax implications and social security agreements.
  • Ensuring compliance with diverse international labor laws.
  1. Pay Equity, Transparency, and Compliance
  • Understanding the drivers and impact of the gender pay gap and other equity issues.
  • Conducting pay equity audits and identifying potential disparities.
  • Developing strategies to address and close pay gaps.
  • Navigating pay transparency regulations and best practices in communication.
  • Compliance with relevant labor laws and anti-discrimination legislation.
  1. ROI of Total Rewards and Future Trends
  • Measuring the return on investment (ROI) of various Total Rewards components.
  • Using people analytics to assess the effectiveness and impact of compensation programs.
  • Communicating the value of Total Rewards to employees and leadership.
  • Emerging trends: Personalized rewards, AI in compensation, pay for skills.
  • Adapting Total Rewards strategy for the future of work (e.g., gig economy, hybrid models).

CERTIFICATION

  • Upon successful completion of this training, participants will be issued with Macskills Training and Development Institute Certificate

TRAINING VENUE

  • Training will be held at Macskills Training Centre. We also tailor make the training upon request at different locations across the world.

AIRPORT PICK UP AND ACCOMMODATION

  • Airport pick up and accommodation is arranged upon request

TERMS OF PAYMENT

Payment should be made to Macskills Development Institute bank account before the start of the training and receipts sent to info@macskillsdevelopment.com

 

Total Rewards And Compensation Strategy Leadership Training Course: Designing Competitive And Equitable Compensation Frameworks in Latvia
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