Strategic Compensation For Leaders

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  • Private Class Price is Per Day not Per Pax
  • Send 1 or 20 pax for the same price
  • HDRF Claimable(SBL)

Private Class from

2400/day

(2 Days)

BENEFITS

Upon completion of this programme, the participants will be able to :

  • Describe how employee compensation practices strategically align with overall HR strategy.
  • Learn the importance of compensation philosophy
  • Know how HR decision supports strategy
  • Able to link compensation and motivation
  • Learn and apply compensation strategies
  • Understand Key Steps In Formulating a Total Compensation Strategy
  • Able to develop A Total Compensation Strategy: Four Steps

INTRODUCTION

Compensation is one of the most important HRM functions. It can help to reinforce the organisation's culture and key values and to facilitate the achievement of its strategic business objectives. An organisation's compensation policies and practices, by rewarding desired results, can reinforce employee behaviour that realises its strategic business objectives. Compensation is a formidable communicator and can be a powerful instrument for change and a major determinant of the culture of an organisation. Reward systems by themselves will not change a culture; they can help reinforce a desired culture. If there is any significant mismatch between compensation and organisational strategy, it is likely to result in major barriers to the achievement of strategic business objectives. For many organisations, employee compensation is the biggest single cost of doing business.

METHODOLOGY

This stimulating program will maximizes the understanding and learning through Lecture, case studies, games, role play and CD clips

AUDIENCE

This program is suitable for HR Professionals and Functional Managers

Level for Managers and above

Strategic Compensation Planning
  • The compensation Philosophy and Strategy
  • Linking Compensation to the Business Mission and Strategy
  • Linking Compensation to Organizational Objectives
  • Common Strategic Compensation Goals
  • Compensation Strategy & Firm Performance
  • What are the Best Practices
Strategic Versus Tactical Decisions
  • Competitive Strategy Choices
  • Tactical Decisions That Support the Firm's Strategy
  • Compensation Professionals' Goals
  • How HR Professionals Fit into the Corporate Hierarchy
  • How the Compensation Function Fits into HR Departments
  • Stakeholders of the Compensation System
Compensation And Motivation
  • How Does Compensation Motivate People
  • Linking Motivation With Strategy
Compensation Strategies
  • Three Compensation Strategies
  • Similarities and Differences in Strategies
  • What are the Strategic Choices
  • Support Business Strategy
  • Tailor the Compensation System to the Strategy
  • Five Strategic Guidelines for Compensation Choices
  • The Pay Model Guides Strategic Pay Decisions
Formulating A Strategy
  • Key Steps In Formulating a Total Compensation Strategy
  • Developing A Total Compensation Strategy: Four Steps
    • Step 1 : Assess total compensation implications
    • Step 2 : Map a total compensation strategy
    • Step 3 : Implement strategy
    • Step 4 : Reassess
  • Sources of Competitive Advantage: Three Tests
  • Best Practices” Versus “Best Fit”?
  • Evidence from research
  • What are Virtuous and Vicious Circles

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