Move your business forward with results-driven pay plans

INTRODUCTION

A smart approach to variable pay ensures increased employee motivation and higher workforce engagement that delivers extraordinary organisational performance and results.

In this course, you will learn how to design and manage effective programmes for recognition, bonuses and incentives that meet your organisation’s goals by motivating employees to perform their best.

FORMAT

• Delivered by an experienced instructor.
• Live-streamed course (Zoom) with a small number of participants in a virtual classroom style.
• This is an interactive programme so that you will be able to consider the issues discussed in the context of your organisation and your experience.
• Slides, discussion and very short exercises will be used.

WHAT YOU WILL LEARN

• Common business strategies and how to align them with variable pay programmes.
• The different types of variable pay plans – including incentive plans, bonus plans, and recognition plans – and how they work.
• Internal and external factors affecting variable pay.
• A systematic process for designing a variable pay plan that includes three phases: pre-design; design; and funding and distribution.
• How to implement, communicate, and evaluate variable pay for programme effectiveness.

WHO SHOULD ATTEND

• This course is ideal for professionals who are responsible for designing, assessing, and maintaining variable pay plans, including HR and finance teams.
• Entry- to mid-level HR and reward professionals interested in understanding compensation programmes.
• If you have several years of experience in reward, you will find this course gives you a valuable review of standard practice and theory, along with an update on current trends in compensation.

ENTRY CRITERIA

We recommend taking Improving Performance with Variable Pay as the fourth course toward your CCP and GRP certification.

To get the most out of the course, you will need to have working knowledge of the WorldatWork total rewards model, the total rewards regulatory landscape and base pay systems.

LENGTH OF STUDY

You should plan to spend approximately nine hours in a virtual class and six hours on self-guided work. Prework may be required in preparation for the first day of class.