Learn trends in compensation design and nuances that make a plan more strategically and financially aligned.
Top talent is becoming harder and harder to identify, hire, motivate, and retain in the current economy. Many C-suite executives state that this is one of the primary obstacles or risks to the achievement of a company's business plan for the year. Compensation has long been used as a tool to create a differentiated employee value proposition that attracts, motivates, and retains the necessary talent. However, many organizations' compensation programs have wandered away from competitive practices or been outshined by innovative approaches in hot markets. This presentation will help the persons responsible for the assessment and design of their company's compensation programs to better understand how to ensure competitiveness, create more powerful programs, and implement compensation plans that are truly engaging. We will discuss trends in compensation design and nuances that make a plan more strategically and financially aligned, but also powerful tools in talent management. In addition, the finer points of plan administration that help support employee engagement will be covered.
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Why Lorman?
Over 38 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
Total Rewards Overview and Philosophy
- Employment and Market Brand
- Work Content
- Career Development
- Benefits (Indirect Financial Rewards)
- Cash and Equity (Direct Financial Rewards)
Competitiveness Benchmarking
- Survey Selection
- Role Matching
- Total Direct Compensation
- Target Total Cash
- Pay Mix
Eligibility
- Level and Structure
- Control Over Business Results
- Culture and Inclusive Alignment
Metrics and Formula Design
- Alignment to Growth and Profitability
- Alignment to Corporate and Individual Performance
- Common Formula Pros and Cons
Communications and Assessment
- Before Hire and After Hire
- Beginning of Year, Mid-Year, and End of Year
- Actual Payout Relative to Corporate, Individual Performance
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More Program Information
Why Lorman?
Over 38 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on February 28, 2024.
Call 1-866-352-9540 for further credit information.
- ASA 1.0
- This program may qualify for 1.0 continuing education hour(s) towards maintaining your ASA credential. Please contact ASA for more information at [email protected]. Please retain proof of attendance in the event your CE record is audited.
HR Certification Institute 1.0
- This E-Learning program has been pre-approved for 1.0 (General) recertification credit hours toward aPHR®, aPHRi(TM), PHR®, PHRca®, SPHR®, GPHR®, PHRi(TM), and SPHRi(TM) recertification through HR Certification Institute® (HRCI®). For more information about certification or recertification, please visit the HR Certification Institute website at www.hrci.org.
SHRM 1.0
- Lorman Education Services is recognized by SHRM to offer Professional Development Credits (PDCs) for the SHRM-CPSM or SHRM-SCPSM. This program is valid for 1.0 PDC(s) for the SHRM-CP or SHRM-SCP.
To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.
- Those applying for AIA and HRCI must view 100% of the program and answer the questions following the program.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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More Program Information
Why Lorman?
Over 38 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Scott Sands
Simon, Kucher & Partners
- Senior Partner and Sales Effectiveness Practice leader for Simon-Kucher, a global sales and marketing consulting firm with 2,000 employees
- 30 years of consulting experience across multiple industries
- Consulted with hundreds of companies in technology, life sciences, financial services, manufacturing, distribution, and business services industries
- Has published and spoken at events on six continents
- M.B.A. degree, focus in marketing and organizational effectiveness, The University of Texas; B.E. degree in electrical engineering and mathematics, Vanderbilt University
- Can be contacted at [email protected] or 404-276-7876
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More Program Information
Why Lorman?
Over 38 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
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