COURSE OBJECTIVE: To ensure that salary structures and variable pay schemes fully integrate with the goals and needs of organisations

“Very relaxed style - willing to address the needs of the group and individual.”

Ian Kennedy, HR Manager, Livestock Improvement

Salary structuring can be a tough balancing act as you need to design one that meets organisational objectives and goals whilst sustaining major motivators and key comptencies in job roles.

Implementing salary structures, remuneration and variable pay schemes can be a challenging one. To determine salary structures, remuneration and variable pay schemes, you need credible information and thorough consideration to be able to make an informed decision.

With this in mind, this two-day training programme - Salary Structuring, Remuneration and Variable Pay Schemes has been designed to guide you through the fundamentals, principles and design of salary structures, remuneration and variable pay schemes. As you learn and understand the relevant principles and methodologies, you will then be able to interpret salary structuring, remuneration and variable pay schemes and link it to other areas of human resources.

This course will benefit human resource and remuneration professionals who are interested in getting a constructive approach to designing and implementing salary structures and variable pay schemes that work. Through the trainer’s expertise and industry experience, you will emerge from this course with the ability to design and implement salary structures that will add value to both your organisation and employees!

SEVEN GREAT REASONS TO ATTEND

1. Identify and select a salary structure that meets and contributes to organisational objectives and across the various functions

2. Learn to change or modify salary structures

3. Benchmark and match roles in the new salary structure

4. Develop performance and variable pay linkages

5. Choose a suitable variable pay scheme

6. Design variable pay schemes around the key performance measure and desired competencies

7. Identifying challenges/pitfalls in salary structures and variable pay schemes 

Day One

Overview of Salary Structures

• The role of salary structures

• How salary structures have developed in NZ and overseas

Linking Salary & Remuneration Structures to Organisational Objectives/goals

• Definition and types of salary structures

• Assessing the effectiveness of your organisation’s salary structure

• How salary structures relate to major motivators and key competencies in job roles

• Meeting organisational objectives/goals with an appropriate salary structure

• When to consider a new salary structure

• Selecting a salary structure that meets and contributes to organisational objectives and across the various functions

• Common failures/pitfalls in salary/remuneration structures

Grading Salary Structures

• Designing, grading and salary structures

• Changing or modifying salary structures

• Managing progression within and between grades

• The challenges of changing, grading and salary structures

Broadbanding

• Exploring alternative broadbanding models

• The pros and cons of broadbanding frameworks

• Implementing broadbanding frameworks - pitfalls and challenges

• Benchmarking broadbanded pay structures

Implementing New Salary Structures

• The role of salary surveys in salary structure design

• Negotiation with staff about salary structures

• Benchmarking and matching roles in the new structure

• Managing employee communication

• Challenges in implementing new salary structures

Integrating Salary Structures and Variable Pay Schemes with Wider HR Initiatives

• Linking salary structures to competencies

• What role does variable pay have in salary structures?

• Developing performance and variable pay linkages

• Managing rewards expectations

Day Two

Overview of Variable Pay Schemes

• The nature and purpose of variable pay schemes

• Designing variable pay schemes around the key performance measures and desired competencies

• Short term variable pay schemes

• Long term variable pay schemes

• Common variable pay methodologies in the private and public sectors

Choosing a Suitable Variable Pay Scheme

• Simple steps to help determine variable pay schemes suitable for your organisation

• Using the variable pay scheme as a strategic tool to enhance organisational competitiveness

• How variable pay schemes help organisations attract and retain talent and promote long term employment security

• Challenges in developing variable pay schemes

Implementing Variable Pay Schemes

• Identifying incentives for achievements

• Factors to consider in the design and implementation of variable pay schemes

• Analysing key decision points and critical success factors

• Managing the implementation process - practical do’s and don’ts

Integrating Non-Monetary Rewards and Incentives into Overall Remuneration and Variable Rewards Schemes

• Adopting a total remuneration approach

• Do non-monetary rewards support good organisational behaviour?

• Do non-monetary rewards improve motivation towards organisational goals?

• Tailoring non-monetary rewards to improve employee satisfaction, motivation and company performance

Linking Pay to Performance Management

• Defining effective performance management for your organisation

• The link between pay for performance and organisational ROI

• Opportunities

- Aligning employee effort to the organisational mission

- Attracting and retaining top performers and managers

• Challenges

- Developing performance metrics that maximises profit

- Achieving a balance between cash and non-cash rewards

• Measuring, tracking, reviewing and rating performance