Developing an effective compensation strategy

Reward Management

This course is designed for HR professionals who manage or want to gain a further understanding of reward design principles. Given the need to attract and retain the best talent, HR has been under pressure to implement creative reward schemes that support organisational strategic objectives and manage operational costs.

Participants will gain a detailed understanding of the components of a pay structure: salary as part of total remuneration, grading options, pay ranges, pay progression mechanisms, and ‘traditional pay’ versus ‘new’.

The course will provide participants with tools to effectively manage and design reward programmes.

This course will cover:

  • Developing an effective compensation strategy
  • Understanding internal pay relationships
  • Using market data to make reward decisions, including understanding market conditions to
  • Determine market positioning
  • Developing the overall compensation architecture and salary structure(s)
  • Launching a communication plan for ongoing implementation

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Korn Ferry Products
33 South 6th Street
Suite 4900
Minneapolis, MN 55402