2018 Reward Academy. Drive growth and performance in your organisation

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1 2018 Reward Academy Drive growth and performance in your organisation

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3 2018 Reward Academy Drive growth and performance in your organisation Table of contents Introduction... 2 General programme Reward Management Training...4 Specialist programmes Sales Effectiveness and Rewards...6 Reward Leadership Programme...8 Bespoke in-company training Reward Academy 1

4 Introduction HR and reward functions are being challenged to take an increasingly strategic role in their businesses, and to ensure that costs are managed and maximum return on investment is delivered. To achieve this, HR departments need to ensure that they have the right skills and experience in place to deliver effective people programmes. A critical component of this is being able to understand the respective roles of reward management programmes within a strategic HR framework, and how these can be integrated to deliver the people strategy. The Reward Academy is Willis Towers Watson s institute for knowledge development and transfer, which focuses the many years of theoretical and practical experience of our consultants in educational and training courses. Willis Towers Watson s Reward Academy takes all of the key elements of our Reward function and presents each workshop within the context of an integrated reward management framework. Each workshop will enable attendees to gain a blend of practical experience and essential theory, delivered by experienced practitioners both from within Willis Towers Watson and from the wider industry. This, combined with opportunities to network with peers in practical group exercises, will provide detailed and current insights into specialty areas that are of interest to your organisation. We deliver the workshops through a proven formula that combines fundamental principles with practical tools and techniques, drawing extensively on real-life case studies. The workshops provide participants with the opportunity to share experiences, ensuring delegates return to their organisations better equipped to meet today s challenges. 2 willistowerswatson.com

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6 Reward Management Training Introduction Willis Towers Watson s research consistently finds that organisations with reward and talent management programmes that support their business goals are more likely to be high performing. Just as a business cannot stand still, neither can a rewards model. An effective Total Rewards programme aligns with business strategy and gives shape to the broader employee experience, which defines the give and get between employer and employee. What does this programme cover? Led by Willis Towers Watson consultants, this one and a half day course provides a high-level overview of all aspects of reward management. In each of the sessions we will draw on emerging insights and research in the area, case studies and real-life examples, and discuss what this means for your organisation and how to put the learnings into practice. Who should attend? Junior to mid-level reward specialists Reward managers who are new to their roles or looking to refresh their knowledge on the subject and learn about recent developments HR generalists who are new to reward, or who are looking to improve their awareness and understanding of the subject Willis Towers Watson s Total Rewards model Career and environmental rewards Performance-based rewards Foundational rewards Total Rewards Philosophy and strategy Programme design Programme delivery 4 willistowerswatson.com

7 Agenda Day one Introduction Workshop objectives Agenda for both days Session 1: Reward strategy Introduction to reward Developing a reward strategy and principles Day two Session 5: Performance management Role of performance management Session 6: Linking performance to pay Pay for performance and incentive plan design Review and close Session 2: Career architecture Job levelling and work architecture: the underpin to rewards Session 3: Base pay Base pay programme design and management Session 4: Benefits Wider benefits and employee communication Evening drinks Dates and times May 2018: Day 1: 9.30am to 4.30pm, with evening drinks from 5.00pm Day 2: 9.30am to 1.00pm October 2018: Day 1: 9.30am to 4.30pm, with evening drinks from 5.00pm Day 2: 9.30am to 1.00pm Location Willis Towers Watson 51 Lime St London EC3M 7DQ Course fees The course provided a good overview of Reward and I felt the exercises were very useful. EDF Energy 1,500 inclusive of materials, lunch and evening drinks on Day 1 What should I do now? To book a place on this programme, please register online at Great environment, very friendly and approachable and knowledgeable consultants. Liked the variety in the delivery. Royal Bank of Scotland 2018 Reward Academy 5

8 Sales Effectiveness and Rewards Introduction What does this programme cover? Various studies show that 70% to 80% of organisations review their sales incentive plans annually. The frequent reviews aim to reflect the continuous change and evolution of the sales strategy what do we want to sell, to whom and how? With this in mind, this one-day programme will start by providing an overview of the strategic context of sales. Discussions will be held about the different distribution models and the impact of these models on sales roles and sales compensation plans. The workshop will then concentrate on a robust methodology for assessing the effectiveness of sales plans, identifying the opportunities for improvement, redesigning the plans and successfully implementing them. Participants will be introduced to analytical tools such as pay-for-performance analysis, total cash benchmarking and performance-to-quota analysis in order to examine the behaviour created by existing plans. They will also work through the core plan design parameters that establish the alignment between sales incentive plans with the sales strategy. We will introduce a case study during the day to practise the tools and techniques provided. Who should attend? Experienced compensation and benefits, or HR specialists in charge of reviewing/designing sales compensation plans Sales effectiveness or sales operations managers in charge of reviewing/designing sales compensation plans Sales or finance directors who have traditionally designed sales incentive plans, but are interested in adopting a robust methodology to improve internal processes Agenda Introduction Workshop objectives and agenda Sales forces what is so special about them? Introduction to sales compensation key terms, concepts and trends Elements of a sales compensation programme Eligibility Target compensation Mix and leverage Measures and weighting Measurement period Payment frequency Formula and credits Sales plan design key phases Situation assessment stakeholder/field views, pay data analysis, quota process, sales strategy and process, sales roles Solution design eligibility, mix, upside, measures, financial impact Implementation communication, training Bringing it together Real-life case studies Group exercise Workshop review and questions 6 willistowerswatson.com

9 Date and time June/July Dates to be confirmed. Location Willis Towers Watson 51 Lime St London EC3M 7DQ Course fees 1,000 inclusive of materials and lunch What should I do now? To register your interest in this programme, please visit rewardacademy Very useful and interactive session. Design element was excellent. Prudential Hit the mark for my needs good orientation to what s involved. Pearson Very helpful and thought-provoking useful tips. EDF Energy Reward Academy 2018 Reward Academy 7

10 Reward Leadership Programme A Willis Towers Watson programme under the sponsorship of The Remuneration Group focused on executive and senior management compensation. Programme purpose The programme aims to support the development of reward specialists and HR generalists in the area of executive compensation, providing relevant technical training, sharing senior practitioners experience and insights, and offering a wider context through research and discussion. The programme also supports the development of attendees own personal networks. Who should attend? The target audience is HR, reward or compensation managers who already have some experience in executive/senior management remuneration, as well as heads of reward who would like to strengthen their executive compensation knowledge. 8 willistowerswatson.com

11 Format The programme comprises eight three-hour sessions. Each session is hosted by a Group Reward Director (and Remuneration Group member) from a leading FTSE 100 company who co-presents with senior members of Willis Towers Watson s Executive Compensation consulting team. Other guest speakers are also invited to present in some sessions, to provide advanced technical or experiential input from the Boardroom. Each session will comprise: Pre-read material Technical content and case studies (led by Willis Towers Watson) and real-life examples/discussion (led by the Group Reward Director sponsoring the session) Handouts of all course material Excellent general overview and discussion on current trends. IMI plc Well-delivered and prompt. WPP plc Really good split between internal and external which helped the audience and discussion. WS Atkins plc Dates and location April July 2018 April sessions: Willis Towers Watson 71 High Holborn London WC1V 6TP June-July sessions: Willis Towers Watson 51 Lime St London EC3M 7DQ Breakfast 8.30am Session 9.00am to 12.00pm Course fees 3,800 inclusive of materials and breakfast For members of The Remuneration Group, 2,800 inclusive of materials and breakfast What should I do now? To book a place on this programme, please register online at Reward Academy 9

12 2018 programme Session 1: Why executive compensation is different and latest trends Tuesday, 10 April 2018 What is executive reward and why is it different? Background to current structure and levels Underlying theories (for example, agency theory) and research What does all this mean in terms of managing executive pay internally and externally? Current debates (for example, performance versus simplicity; external market versus internal relativities) High-level overview of the latest reporting regulations and trends Facilitators: Damian Carnell Willis Towers Watson Paul Townsend Willis Towers Watson Session 2: Internal and external governance, including financial services specifics Tuesday, 24 April 2018 Dynamics of working with the Remuneration Committee Effective Remuneration Committee processes Historical context to UK governance Current UK governance framework and recent developments, including the latest Green Paper and the variety of shareholder points of view Communicating with shareholders Managing disclosure in light of latest disclosure requirements Session 3: Managing fixed pay, executive recruitment, termination and transaction Tuesday, 8 May 2018 How the management of executive base pay is different from broad-based reward Using market data in an executive context Executive pensions and other benefits Dynamics of executive recruitment and management of ongoing contractual liabilities Legal framework and dynamics of executive termination Transaction rewards due diligence and integration of acquisitions; retention Facilitators: Richard Latham Willis Towers Watson Laura Coughlan Willis Towers Watson Session 4: Pay for performance short-term incentives, including financial services specifics Tuesday, 22 May 2018 Overview of short-term incentive arrangements Range/choice of performance measures Calibration and target setting Institutional investor views Market trends, including practices in financial services sector Managing disclosures Facilitators: Jessica Norton Willis Towers Watson Laura O Kane Willis Towers Watson Facilitators: Hazel Rees Willis Towers Watson Jane O Reilly Willis Towers Watson Neil Sharpe Linklaters 10 willistowerswatson.com

13 Very engaging speakers articulate and used lots of examples to illustrate points. BP plc Session 5: Pay for performance long-term incentives, including financial services specifics Tuesday, 5 June 2018 Overview of long-term incentive arrangements Range/choice of long-term incentive vehicles Range/choice of performance measures and long-term target setting Institutional investor views Market trends, including practices in financial services sector Managing disclosure Amending plans Facilitators: Alasdair Wood Willis Towers Watson Victoria Foden Willis Towers Watson Session 6: Fair pay agenda, diversity, gender pay Tuesday, 19 June 2018 Introducing the fair pay agenda within the context of the broader organisation and the remit of the Remuneration Committee The spectrum of approaches we see companies currently taking, from regulatory compliance to embedding fair pay in their employee proposition The role of the Remuneration Committee and how to balance any changes with an already busy annual cycle What fair pay means in practice and key learnings from real-life examples in working with clients developing a fair pay strategy with clients on a local and global basis Facilitators: Tamsin Sridhara Willis Towers Watson Sophie Ogunlesi Willis Towers Watson Session 7: Tax, accounting and valuation Tuesday, 3 July 2018 Introduction to valuation of incentive awards covering accounting fair value, economic expected value and perceived value Overview of IFRS accounting for remuneration-related expenses with a focus on equity-based awards Taxation of executive arrangements, including UK pension tax Facilitators: Alex Little Willis Towers Watson Jun Hu Willis Towers Watson Hannah Needle Tapestry Session 8: Managing international reward, programme wrap-up Thursday, 19 July 2018 Managing international reward Developing a global reward and governance framework Managing pay for a global executive cadre Challenges in managing global reward frameworks Integrating management of risk into reward Addressing globally mobile employees (Note: this session is not primarily about expatriate pay.) Programme wrap-up The future of executive compensation Handout of graduation certificates Facilitators: Gary Luck Willis Towers Watson Richard Belfield Willis Towers Watson Further information For further information, please contact tracademy@willistowerswatson.com 2018 Reward Academy 11

14 Bespoke in-company training We compile bespoke training packages that are unique to your organisation. All training courses can be tailored to meet your own business requirements and company culture. If you would like to discuss tailoring an HR training course to yourself or your department, or would like additional information on any of these programmes, please visit /2018rewardacademy. Training requirements vary greatly between organisations. For this reason, the content and focus of reward training workshops can be tailored to specific issues and skills gaps for specific organisations. This will help ensure that the time and investment is maximised, and can often prove cost-effective for large groups. The tailored nature of this approach also involves being flexible on the location of delivery. 12 willistowerswatson.com

15 Willis Towers Watson offers integrated solutions Communication and change management We combine expertise in change management, organisational effectiveness and communication to drive employee engagement and help align behaviour with business results. Mergers and acquisitions We help you identify the issues, assets, liabilities, risks and opportunities surrounding culture, change management, communication, compensation and benefits during a merger or acquisition. Data services We are your global centre of excellence for compensation, benefits and employment practices information. Employee surveys We design and administer employee surveys, and apply benchmark data and advanced analytics to develop practical insights about improving employee engagement, shaping a high-performance culture and achieving optimal return on talent investments. Rewards We provide the data, tools, strategy, design and execution support essential to ensure your pay and other reward programmes are cost-effective and deliver the behaviour and performance you need. Sales effectiveness and rewards We collaborate with you to drive profitable growth designing incentive plans, increasing productivity and identifying traits of top sales performers. Executive compensation Whether we work with management, the board or both, clients depend on us to apply our experience to help them balance the interests of key stakeholders and reach pay arrangements that stand up to close scrutiny from shareholders, regulators and others. We bring your organisation expert analytical resources, best-in-class competitive data, and a global staff of dedicated executive pay consultants. HR and talent management technology Talent management and organisational alignment We help you develop integrated programmes and processes to engage and develop leaders and employees, and align their behaviours with the critical drivers of business performance for your organisation. Further information For further information, please contact tracademy@willistowerswatson.com We deliver a truly integrated talent management approach: best-in-class technology combined with proven talent management strategy and design. HR function effectiveness We help accelerate your transition to a high-performance HR function one that adds measurable value to both the top and bottom line Reward Academy 13

16 About Willis Towers Watson Willis Towers Watson (NASDAQ: WLTW) is a leading global advisory, broking and solutions company that helps clients around the world turn risk into a path for growth. With roots dating to 1828, Willis Towers Watson has 40,000 employees serving more than 140 countries. We design and deliver solutions that manage risk, optimise benefits, cultivate talent, and expand the power of capital to protect and strengthen institutions and individuals. Our unique perspective allows us to see the critical intersections between talent, assets and ideas the dynamic formula that drives business performance. Together, we unlock potential. Learn more at willistowerswatson.com. Willis Towers Watson 51 Lime St London EC3M 7DQ Towers Watson Limited (trading as Willis Towers Watson) is authorised and regulated by the Financial Conduct Authority in the UK. The information in this publication is of general interest and guidance. Action should not be taken on the basis of any article without seeking specific advice. To unsubscribe, eu.unsubscribe@willistowerswatson.com with the publication name as the subject and include your name, title and company address. willistowerswatson.com/social-media Copyright 2018 Willis Towers Watson. All rights reserved. WTW-HP willistowerswatson.com