WorldatWork Course T1: Total Rewards Management

Total Rewards Management

Learn what is required to formulate a rewards program that has the power to attract, motivate, engage, and retain - total rewards.  Participants are introduced to the total rewards model and each of its components.  Emphasis is given to the six elements of total rewards: compensation, benefits, work-life effectiveness, recognition, performance management, and talent development.

■ Gain an understanding of total rewards management.
■ Discover the six elements of total rewards.
■ Understand the critical role of the main drivers - organizational culture, business strategy, and human resources strategy.
■ Learn the process of designing a successful total rewards strategy.

What You Will Learn

Introduction to Total Rewards

• The evolution of rewards
• The total rewards model
• External influences
• Drivers of total rewards strategy
• Elements of total rewards strategy
• The total rewards strategy
• The total rewards approach

Compensation

• Compensation
• Factors influencing compensation
• Base pay structure design
• Base pay structure
• Base pay
• Differential pay
• Variable pay

Benefits

• Benefits
• Factors influencing benefits
• Income protection programs
• Pay for time not worked programs

Work-Life Effectiveness

• Work-life effectiveness
• The work-life professional
• Work-life portfolio

Recognition

• Recognition
• The value of recognition programs
• Using recognition to drive results
• Recognition plan types
• Recognition programs

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