Compensation and Reward Systems

Aims of the course

- to gain knowledge about different pay components and their integreation into coherent compensation systems.
- to understand strategic approach to designing a compensation system.
- to learn about the process and key issues in desining an effective pay for performance system at individual, group and company level,
- to understand specifics regarding compensation of special groups of employees,
- to learn how to apply theoretical concepts to a case study of designing a compensation system for a company.

Course syllabus

1. Basic terms and elements of compensation and reward systems
1.1. Elements of total compensation
1.2. Compensation model
2. Designing compensation and reward strategy
3. Determining base salary
3.1 Job evaluation techniques.
3.2. Internal consistency
4. Pay for performance programs
4.1. Individual pay for performance
4.2. Group pay for performance
4.3. Company pay for perfromance
5. Compensation and reward systems for groups of employees
5.1. Management
5.2. Experts
5.3. Sales People
6. Rewards and recognition
6.1. Formal reward and recognition programs
6.2. Informal reward and recognition programs

Course director(s)