Master Total Rewards New Approach to Compensation & Benefits

Introduction

Are you an HR professional looking to revolutionize your organization's approach to employee rewards? The Master Total Rewards New Approach to Compensation & Benefits course might be the key to unlocking your potential in this field. This comprehensive online program delves into the latest strategies for designing and implementing Total Rewards systems that not only attract but also motivate and retain top talent. With a focus on aligning rewards with business objectives, this course promises to equip you with the tools needed to enhance organizational effectiveness through advanced Total Rewards strategies.

Course Details

Course Curriculum Overview

The Master Total Rewards course is structured around 16 in-depth lessons, covering everything from the basics of Total Rewards to advanced topics like global rewards and executive compensation. Here’s a snapshot of the curriculum:

Introduction to Total Rewards: An overview of Total Rewards components and the role of specialists.
Developing a Total Rewards Strategy: How to link reward strategies to business goals and company culture.
Designing Total Rewards Elements: Processes for analyzing, designing, implementing, and communicating reward elements.
Compensation and Job Evaluation Basics: Understanding job analysis, salary structures, and market alignment.
Salary Market Reviews: Conducting market comparisons and utilizing data for compensation decisions.
Job Grading and Pay Structures: Establishing grading systems and developing base pay structures.
Sales Compensation Fundamentals: Designing reward systems tailored for sales teams.
Executive Compensation and Global Rewards: Approaches to rewarding top managers and managing global reward systems.
Linking Pay to Performance: Integrating compensation with performance metrics like KPI, MBO, and OKR.
Cash Incentives Programs: Implementing various incentives schemes, including referral and retention incentives.
Benefits and Work-Life Balance: Strategic planning of employee benefits and promoting work-life balance.
Total Rewards Budgeting: Budgeting for salaries, incentives, benefits, and related expenses.
Evaluating Total Rewards Effectiveness: Auditing and measuring the impact of reward systems.
Recognition Programs: Developing programs to acknowledge and reward employee achievements.
Total Rewards and Employer Branding: Connecting reward systems with EVP and employer brand communication.
Career Management and Corporate Culture: Incorporating career development and cultural elements into Total Rewards.

Key Learning Outcomes

Upon completing this course, you will be able to:

Design comprehensive Total Rewards systems aligned with business goals.
Create competitive compensation and benefits packages.
Integrate performance metrics into pay and reward strategies.
Evaluate and optimize Total Rewards effectiveness within organizations.

Target Audience and Prerequisites

This course is tailored for:

HR Professionals seeking to deepen their expertise in employee reward systems.
Compensation and Benefits Specialists aiming to expand their knowledge to encompass comprehensive Total Rewards strategies.
Business Leaders and Managers looking to understand and implement effective reward systems.
HR Consultants seeking to offer clients advanced solutions in employee motivation and retention.

No prior experience is required, making this course accessible to anyone eager to learn and implement advanced Total Rewards strategies.

Course Duration and Format

The course spans 8 hours of on-demand video content, complemented by 22 downloadable resources. It is accessible on mobile and TV, with closed captions and audio descriptions for a more inclusive learning experience. Upon completion, participants receive a certificate of completion.

Instructor Background

The course is led by Mike Pritula, a top-rated HR expert and founder of PapaHR. With a 5.0 instructor rating and over 7,340 students across his 29 courses, Mike brings a wealth of knowledge and practical experience to the table. His expertise in developing Total Rewards strategies is unmatched, making him the perfect guide for this journey.

Benefits & Applications

Practical Skills Gained

By enrolling in this course, you will gain hands-on skills in:

Analyzing and designing Total Rewards systems.
Conducting salary market reviews and job evaluations.
Budgeting for Total Rewards and measuring their effectiveness.
Developing recognition programs and integrating career development into reward systems.

Real-World Applications

The skills learned in this course have direct applications in:

Enhancing employee satisfaction and retention through well-designed reward systems.
Aligning organizational rewards with strategic business objectives.
Improving performance management by linking pay to performance metrics.
Crafting competitive compensation packages to attract top talent.

Career Relevance

For HR professionals and compensation specialists, mastering Total Rewards is crucial for career advancement. This course not only enhances your skill set but also provides a certificate of completion that can boost your professional credentials.

Industry Alignment

The Total Rewards strategies taught in this course are aligned with current industry trends, ensuring that you are equipped with the latest tools and techniques to stay competitive in the HR field.

Standout Features

Unique Course Elements

This course stands out with its:

50% More Material: Compared to the previous version, offering deeper insights into Total Rewards.
Practical Application: Homework assignments with personalized feedback to apply concepts in real-world scenarios.
Interactive Community: A dedicated Telegram