GR1 Total Rewards Management

Transcription

1 GR1 Total Rewards Management Course Overview This basic-level course is specifically designed to be the first course in the Global Remuneration Professional (GRP) certification course sequence. Participants are introduced to the total rewards model and its three components: remuneration, benefits and the work experience. Emphasis is given to the concept of the total rewards design process. Finally, participants are introduced to the general skills needed by the HR professional to become an effective strategic business partner. Intended Audience This course is intended for those new to the compensation and benefits field or for generalists with limited exposure to compensation and benefits functions seeking a basic overview of total rewards. Course Outline MODULE 1 Introduction to Total Rewards Begins the discussion of total rewards management by defining total rewards and looking at the process of developing a total rewards strategy. The evolution of rewards The total rewards model The total rewards approach The total rewards strategy MODULE 2 Compensation Explains compensation, including the elements of a base pay structure and discusses its importance in total rewards design. Elements of compensation Building a job worth hierarchy Components of a base pay structure Types of base pay Types of pay adjustments Variable pay MODULE 3 Benefits Details the various components of benefits that are available for total rewards design. Benefits Elements of benefits Factors influencing benefits Income protection programs Pay for time not worked programs MODULE 4 Work-Life Explains the elements of work-life and details the work-life portfolio. Work-life The work-life professional The work-life portfolio Continued on next page

2 GR1 Total Rewards Management continued MODULE 5 Performance and Recognition Discusses both the performance management process and approaches to showing recognition in organizations. Performance and recognition Performance management Performance management process phases Phases 1 through 4 Recognition programs MODULE 6 Development and Career Opportunities Discusses learning opportunities to enhance present jobs as well as those to support future career plans and various types of development and career opportunities. Development and career opportunities Conduct annual development and career opportunities discussion Phases 5 Learning opportunities Types of development and career opportunities MODULE 7 Total Rewards Putting It All Together Explains the drivers for the total rewards strategy, including organizational culture, business strategy and the human resource strategy. The total rewards design process and design considerations are addressed. Revisiting the total rewards model Drivers of the total rewards strategy The total rewards strategy The total rewards design process Total rewards design considerations

3 GR2 Quantitative Methods Course Overview This basic-level course is one of the CCP/CBP common core courses offered by WorldatWork. It focuses on general quantitative concepts, basic statistical tools, the mathematics of total remuneration design and administration, mathematical modelling, and regression analysis. Participants learn to consider data from numerous sources, with an emphasis on problem solving and decision making. Intended Audience This course is intended for those individuals who are relatively new to the field as well as experienced practitioners who seek a basic treatment for applying statistics in total remuneration management. Participants will benefit most from this course if they are proficient in the concepts covered in Course GR1 Total Rewards Management. It is assumed that participants have had no formal exposure to statistics, but have had a basic algebra course. Course Outline MODULE 1 Statistics Data, Information and Levels of Measurement Introduces basic quantitative concepts and the four levels of measurement. Why HR professionals collect and use data Five key questions to ask about the variable of interest Levels of measurement MODULE 2 Percents and Related Issues Defines and compares percents, market index and compa-ratios. Percents Individual compa-ratio Department compa-ratio Market index Percent difference Range penetration Developing salary ranges Percents in benefits management MODULE 3 Time Value of Money Addresses the time value of money, including compound interest and the compound salary growth rate. Time value of money Compound interest and compound salary growth rate Constant midpoint progression Annuity payments MODULE 4 Statistics Collecting, Organising, Grouping and Displaying Data Introduces statistical analysis. Populations and samples Frequency distributions Organise, group and display data Continued on next page

4 GR2 Quantitative Methods continued MODULE 5 Statistics Lying with Statistics, Graphs and Displays Explains how to accurately display data. Recognising distorted data Mistakes that distort data MODULE 6 Statistics Measures of Central Tendency and/or Location Addresses measures of central tendency and measures of central location. Measures of central tendency Measures of location Percentile bars MODULE 8 Statistics Shapes of Distributions Addresses shapes of distributions. Interpreting distributions Normal distribution MODULE 9 Regression Analysis Introduces modelling and regression analysis. Regressions models in an HR environment Developing a regression model Cautions in the interpretation of correlations Multiple regression MODULE 7 Measures of Variability Discusses measures of variability. Measures of variability Range Standard deviation z-scores

5 GR3 Job Analysis, Documentation and Evaluation Course Overview This basic-level course examines the methods and processes that support job analysis, job documentation and job evaluation. Intended Audience This course is designed for the participant who understands the topics covered in Course GR1. The participant with several years of experience in the field will find the course valuable as a review of standard practice and theory, and as an update on current trends. Course Outline MODULE 1 Strategic Overview Provides a strategic overview of the concepts associated with job analysis, job documentation and job evaluation, and introduces terms that will be used throughout the course. The total rewards model Human resources strategy Building a base pay structure Terms and definitions MODULE 2 Job Analysis Examines job analysis and the planning and implementation required to carry it out. Job analysis Sources of job information Job analysis communication Possible sources of error MODULE 3 Job Documentation Covers job documentation, with an emphasis on the components and format of effective job descriptions. Types of job documentation Job descriptions Job description format Job description preparation MODULE 4 Market-Based Job Evaluation Begins the discussion of job evaluation, focusing on market-based job evaluation. Market-based job evaluation Considerations in data collection Survey formats Survey analysis issues Slotting Advantages and disadvantages of market pricing MODULE 5 Nonquantitative Job Evaluation Methods Introduces job content-based job evaluation, focusing on two nonquantitative approaches ranking and classification. Job content evaluation methods Ranking method Classification method Continued on next page

6 GR3 Job Analysis, Documentation and Evaluation continued MODULE 6 Quantitative Job Evaluation Methods Continues the discussion of job content-based job evaluation, focusing on two quantitative approaches job component and point factor. Job content evaluation methods Compensable factors Job component method Point factor method Quantitative plan summary MODULE 7 Selection and Implementation Issues Concludes the course with coverage of selection and implementation issues, including an introduction to the process of building a base pay structure. Selecting a job evaluation strategy Implementation issues Audit of job evaluation plans and practices Building a base pay structure

7 GR4 Base Pay Management Course Overview This intermediate-level course provides an in-depth discussion of the principles, design, implementation and evaluation of an employee base pay program. Exercises will show how to design a pay program that is fair, competitive and supportive of an organisation s remuneration strategy. Intended Audience This course is intended for emerging remuneration practitioners with limited experience in developing pay structures. Attendees should be able to apply concepts and techniques covered in courses GR1, GR2 and GR3. Knowledge of basic mathematical concepts such as mean, median, weighted average, compa-ratio, percentiles and calculating percents is suggested, as well as an understanding of the concept of regression analysis. Course Outline MODULE 1 The Role of Base Pay in Total Rewards Addresses the objectives of an employee total rewards program and its relationship to an organisation s business strategy. Evolution from pay to rewards The total rewards model The total rewards design process Remuneration philosophy and strategy Introduction to base pay Job evaluation methods Job worth hierarchy Role of the remuneration professional MODULE 2 Designing Base Pay Structures Addresses the design of base pay structures. Base pay structure Building a base pay structure Pay structure design considerations Pay structure design Broadbands MODULE 3 Practical Applications of Base Pay Structure Design Is a practice module that provides real world application of the concepts covered in Module 2. Exercise 1 Market pricing approach Discussion exercise 2 Point factor approach Discussion exercise 3 Integrating market data into point factor approach MODULE 4 Base Pay Implementation and Delivery Covers other factors affecting individual and group pay, including differentials and various pay actions. Pay approaches Job-based pay Person-based pay Differentials Pay actions Communicating pay actions Continued on next page

8 GR4 Base Pay Management continued MODULE 5 Costing Focuses on the key elements in costing base pay and other remuneration programs and the application of various costing techniques. Costing terms Costing impact Calculating base pay costs Costing methods Understanding remuneration costs MODULE 6 Merit Pay Presents the principles and techniques of merit pay systems including the development, utilisation and costing of merit-increase guideline charts. Principles of merit pay programs The base pay investment Merit increase guidelines MODULE 7 Administering and Evaluating Base Pay Programs Addresses the process for evaluating the effectiveness and efficiency of pay programs. It also covers HR s role in administration and maintenance. HR s role in administering and evaluating a base pay program Monitoring pay levels Compression Maintaining pay structures Base pay program review and audit

9 GR5 Performance Management Strategy, Design and Implementation Course Overview This intermediate-level course presents the key concepts associated with measuring and rewarding performance at the organisationwide, group and individual levels. Issues addressed include: organisational performance planning, business strategy, the performance management system and process, measurement, individual motivation and the link between rewards and performance. Intended Audience This course is intended for remuneration/hr practitioners and line managers who are designing and administering performance management systems, or who are responsible for developing and implementing a performance rewards strategy. Course Outline MODULE 1 The Performance Management System Introduces the topic by defining performance management and the performance management system. Introduction to performance management Organisational drivers Performance objectives Performance management process Evaluation/assessment Outcomes HR practices interlinked with performance management MODULE 2 Measuring Performance Focuses on performance measures, describing the different types of measures and the measures used at different organisational levels. Why do organisations measure performance? How are performance objectives identified? How do organisations measure progress? What do organisations measure? How is performance measured at different levels? How are measures selected? MODULE 3 Individual Performance and the Performance Appraisal Examines individual performance and the performance appraisal. The module details the different approaches to employee evaluation and some of the issues associated with performance appraisals. Performance by individuals The performance appraisal Evaluation approaches Sample performance appraisals Improving performance appraisals MODULE 4 Implementing Performance Management Covers the performance management process that supports implementation of the performance management system. It describes the steps in applying the process at different levels of the organisation and the importance of alignment within the performance management system. Performance management system implementation The performance management process Alignment Continued on next page

10 GR5 Performance Management Strategy, Design and Implementation continued MODULE 5 Linking Performance to Rewards Discusses the factors that motivate employee performance. It identifies the rewards that organisations use to motivate performance, tactics for allocating meaningful rewards and examples of performance reward strategies. Performance reward strategy What motivates employee performance? Linking pay to performance Linking base pay to performance Variable pay Motivating with other rewards Rewarding at different organisational levels MODULE 6 Performance Management System Evaluation Covers performance management system evaluation. It addresses the legal framework of performance management as well as key considerations when auditing a new or revised performance management system. Analysis of current system Legal framework of performance management Auditing rating scales Audit example

11 GR6 Variable Pay Incentives, Recognition and Bonuses Course Overview This intermediate-level course presents the fundamentals of variable pay. The course focuses on compensation strategy and variable pay, definitions and the design and implementation of incentive, recognition and bonus plans. Intended Audience Course GR6 is intended for HR practitioners responsible for designing, assessing or maintaining variable pay programs. Course Outline MODULE 1 Total Rewards and Variable Pay Presents variable pay as a component of total rewards. Variable pay in total rewards Categories of variable pay MODULE 2 Supporting Business Objectives through Variable Pay Discusses alignment of business objectives with business strategy and business lifecycle, and supporting those objectives with variable pay. Common business strategies Business objectives for achieving business strategies Business lifecycle Variable pay supports business objectives Variable pay in tandem with fixed pay MODULE 3 Types of Variable Pay Addresses the objectives, approaches and considerations related to the three categories of variable pay: incentives, bonuses and recognition. Incentive plans objectives, approaches and considerations Short-term incentive plans Long-term incentive plans Bonus plans objectives and considerations Referral bonus Hiring (sign-on) bonus Retention (stay) bonus Project completion bonus Recognition plans objectives and considerations Spot awards Managerial recognition Nominations Organizationwide recognition MODULE 4 Developing a Variable Pay Plan Phases 1 & 2 Addresses the first two phases in developing a variable pay plan: pre-design and design. It highlights internal and external factors that need to be considered in developing a variable pay plan. It then discusses the activities for designing the structure of the plan. Phase 1: Pre-Design Considering internal and external factors Obtaining management support Identifying the design team Phase 2: Design Determining plan objectives and plan type Defining eligibility Selecting performance measures Continued on next page

12 GR6 Variable Pay Incentives, Recognition and Bonuses continued MODULE 5 Developing a Variable Pay Plan Phase 3 Discusses the final phase in developing a variable pay plan: funding and distribution. It presents aspects to be considered in establishing target performance and payouts. It then provides an overview of funding and distribution of plan earnings. Phase 3: Funding and distribution Determining performance targets and payouts Funding the plan Distributing plan earnings Final approval MODULE 6 Implementation and Evaluation Covers key activities for implementing a plan, including the development of a communication plan. It then discusses how to evaluate the success of a variable pay plan. Plan implementation Selecting the implementation team Developing the communication plan Introducing the plan Coordinating plan administration Plan evaluation Determining plan effectiveness Why plans fail Potential evaluation outcomes

13 GR7 International Remuneration An Overview of Global Rewards Course Overview This basic-level course offers an overview of total remuneration and its role within global organisations. It includes summaries of national remuneration practices in various countries and regions of the world, a discussion of expatriate pay strategies, an analysis of the differing influence of governments on remuneration practices and the role of remuneration within the overall global management of human resources. Intended Audience This course is recommended for human resources generalists and specialists from all functions seeking a broad understanding of total remuneration policy and practices around the world. It serves as an overview of global practices in total remuneration. It also serves as an introduction to global strategy. Course Outline MODULE 1 Globalisation, Remuneration and Total Rewards Begins the course with an examination of some reasons why companies globalise and the impact of globalisation on remuneration and total rewards programs. Globalisation The global business environment Total remuneration MODULE 2 Influences on Reward Systems Provides an overview of cultural issues and looks at other regional influences that affect the design and delivery of global rewards. Influences on total rewards The impact of culture Other influences Government controls Influence of technology Rewards planning Common-sense global practices MODULE 3 Global Remuneration Practices Outlines some of the primary similarities and differences that practitioners will need to examine when developing a remuneration strategy. Elements of remuneration Factors to consider in remuneration Base pay delivery Variable pay delivery Executive remuneration Common-sense global practices Summary of remuneration challenges Continued on next page

14 GR7 International Remuneration An Overview of Global Rewards continued MODULE 4 Global Benefits Practices Provides an overview of benefits in different regions of the world that may serve as a starting point for developing a global benefits strategy. Benefits Influences on global benefits planning Global benefits strategy Government programs Company programs Global benefits trends Examples of country-specific rewards MODULE 5 The Global Work Experience Focuses on the third component of total rewards, the work experience, and its effect on attraction, retention and motivation throughout the world. The global work experience Global employee assistance programs Attraction and retention MODULE 6 Managing International Assignments Examines several approaches to remuneration and some of the other issues associated with managing international assignments. Definitions Evolution of international assignments International assignments Remuneration systems Retirement issues Other issues MODULE 7 Cross-Border Mergers and Acquisitions Provides an overview of some of the areas to assess and the required elements necessary to successfully combine cross-border companies in a business transaction. Definitions of key terms Cross-border mergers and acquisitions The role of HR The importance of culture Other global M&A issues Successful cross-border mergers and acquisitions MODULE 8 Group Exercise Is a group exercise that focuses on the considerations in integrating pay and benefits programs following a merger and acquisition. MODULE 9 The Future of Global Rewards Concludes the course with a look at emerging markets, trends in global remuneration and benefits and a summary of the issues covered throughout this course. Becoming a strategic partner Global trends in total rewards Global performance management Emerging markets Developing a global action plan The future of globalisation

15 GR9 Strategic Communication in Total Rewards Course Overview This intermediate-level course provides a general overview of communication theory and fundamentals. Participants are introduced to a seven-step process for communicating total rewards (compensation, benefits and work experience) programs, which includes detailed explanation of strategies for selecting appropriate communication media. Emphasis is given to both the strategic and tactical elements of designing, implementing and managing a communication campaign. Intended Audience Course GR9 is designed for those experienced in the employee compensation and benefits fields or for those who would like to broaden their total rewards perspective. Participants who have mastered the concepts in WorldatWork Courses T1, C1, C4, B1, B2 and B3 would benefit most, as the course is highly participative and discussion-oriented. This course is strategic in nature and is designed for participants who need to focus primarily on the design and direction of communication. Course Outline MODULE 1 Communication and Total Rewards Introduces participants to the total rewards model and discusses the rationale for effective communication from both the employee and employers perspective. The total rewards model Influences on total rewards Power of communication Employee perspective Employer perspective Branding Top management buy-in The bottom line MODULE 2 Communication Principles Presents various theoretical models of communication and walks through the seven steps of the communication process. Fundamental of communication Communication models Shannon-Weaver Model Osgood and Dance Circular Model Schramm s Model Behavior Pyramid The communication process MODULE 3 Media Considerations Explains characteristics and selection criteria for the following four types of communication media: written, verbal, electronic and audio or visual. Written and print communication Verbal communication Electronic communication Audio/visual communication Media selection MODULE 4 Communicating Total Rewards Programs Identifies current issues in communicating compensation, benefits and work experience programs and outlines the requirements for basic compliance. Total rewards communication Compensation communication Benefits communication Work experience communication Continued on next page

16 GR9 Strategic Communication in Total Rewards continued MODULE 5 Putting It Into Action Discusses planning and managing the communication campaign and provides general tips for effective communication. Planning the communication campaign Managing the communication campaign Keys to effective communication when outsourcing Working with an internal communications department General tips for success Special issues

17 GR17 Market Pricing Conducting a Competitive Pay Analysis Course Overview This two-day course provides a consistent and effective methodology for market-pricing benchmark jobs within an organization. Participants have an opportunity to develop their data utilization skills through classroom practicum exercises. On the third morning, an optional certification exam covers the content of this course. Intended Audience This course is designed for compensation professionals with an interest in/or responsibility for identifying competitive rates of pay, job evaluation and compensation program development. Course Outline MODULE 1 Total Rewards and the Compensation Function Reviews common compensation program strategies, base pay structure design, and the establishment and use of a job worth hierarchy. The total rewards model Compensation philosophy and strategy Base pay structure Job worth hierarchy MODULE 2 Business Strategy and Market Pricing Defines market pricing and relevant terminology, and discusses how market pricing can support an organization s business strategy.. Market pricing and business strategy Terminology Market pricing steps Market pricing Market pricing advantages and disadvantages MODULE 3 Survey Data Reviews data sources, data collection options, salary survey formats and the use of job matching. Data sources Data collection Survey formats Job matching MODULE 4 Collecting Survey Data Discusses the data represented in the salary surveys and how that data will help the practitioner develop the market rate for benchmark jobs. This module also describes documentation and why that process is important. Survey selection Data integrity Multiple survey sources Statistical data points Documentation MODULE 5 Utilizing Survey Data Covers topics on aging, blending, weighting and slotting. Statistical analysis tools are also covered. Utilizing survey data Aging data Blending and weighting Regression Internal versus external equity MODULE 6 National Plastics and Rubber Manufacturing A Case Study

18 Course GR17 Number Course Market Name Pricing Course Conducting subtitle a Competetive Pay Analysis continued MODULE 7 Exceptions and Special Situations Discusses exceptions: special situations that might come up during market pricing. Total compensation Incentives MODULE 8 Communication Covers the topic of communication and how it relates to market pricing. Communication with employees and upper management Organizationwide communication Communication and survey sources