This workshop covers the fundamentals of compensation systems, including: the importance of compensation and rewards for organizational success, compensation system components (base pay, performance-based pay and benefits), legal considerations, as well as non-financial rewards and other aspects of total reward systems. A strategic framework for compensation is developed and relevant theoretical explanations offered on why compensation may (or may not) motivate desired employee behaviours.
Participants will also get an opportunity to design the base pay structure for an organization. This includes doing the job evaluations, conducting market pay research, and developing the resultant pay grades and ranges.
The components of compensation systems: base pay, pay-for-performance and benefits
The importance of using a strategic approach in designing compensation systems
Relevant compensation theories
Relevant laws related to organizational compensation systems in Canada
Who should attend:
HR Professionals involved/interested in their organization’s compensation function; those aspiring to become compensation experts; HR professionals studying for certification-based examinations; those involved in pay equity – including employees in both the private and public sectors; union officials.