Personnel management – Total rewards

Overview

Total rewards include everything an employee perceives as valuable as a result of the employment relationship. These include all financial and non-financial incentives, such as salaries and allowances, holidays, health and welfare benefits, employee insurance, retirement schemes and additional remuneration. These rewards help attract, motivate and retain employees. HR professionals have organizational and fiduciary responsibilities in designing, managing, and maintaining total reward systems and programs aligned with organizational strategies and objectives.

This course presents the strategic framework for total rewards. You will learn about the pay structure and systems and about employee compensation programs. You will also learn about the legal and global considerations for total rewards. The content of this course is based on the Competence and Knowledge Corps (BoCK), 2015 of the Society for Human Resource Management (SHRM). While the course helps students prepare for the SHRM-CP / SCP certification exams, it is equally useful for human resources professionals who want to develop skills to improve their workplace effectiveness and career advancement.

Objectives

• Identify the role of the UK in managing total rewards
• Sequencing the steps in developing a total rewards strategy
• Identifying the role of the UK in administering the regulatory framework of salaries and allowances
• Demonstrating understanding of the role of the UK in designing and implementing a strategic framework for total rewards -key in the job analysis • recognition of job evaluation methods
• recognition of the elements of a pay structure
• differentiation between types of pay systems
• differentiation between types of salary adjustment and variations
• demonstration of understanding the role of the UK in the design and implementation of pay systems
• Identifying the characteristics of employee benefits
• Recognizing the stages of a compensation needs assessment process
• Recognizing examples of common employee compensation programs
• Recognizing values used to calculate employee allowances
• Demonstrate an understanding of the role of the UK in the design and implementation of allowances and requirements