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Compensation Design Tips To Attract And Motivate Employees

Webinar: ID# 1042390
Recorded On-Demand
About This Course:
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.What You'll Learn: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
  • 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
Compensation Design Tips To Attract And Motivate Employees
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