Staff costs constitute the largest single expense item for most organisations. Faced with an increasingly competitive marketplace, shrinking margins and mounting budgetary pressures, one of the key challenges for organisations is: how do we extract maximum value, and achieve optimal effect, from every dollar spent on staff? A significant part of the answer lies in having a comprehensive Rewards framework, aligned to corporate goals and values, integrated with the wider HR platform, and effectively managed with the objectives of driving performance and strengthening employee engagement.
This module has twin goals: to provide a comprehensive understanding of the conceptual basis for effective Rewards frameworks and programmes (with emphasis on Compensation and Benefits), and impart an appreciation of the practical issues and considerations to be borne in mind when introducing Rewards interventions in real-world settings. Themes explored will include alignment, integration, engagement, ownership and communication. The setting will be interactive and experiential, and participants will have the opportunity through hypothetical case studies to apply learning acquired.