How to Develop an Effective Incentive Plan

Course Overview

An effective incentive plan ensures employees focus their efforts on those areas that are critical to business success and assist in promoting a pay for performance culture.

This full day remuneration training course will provide participants with the skills and knowledge to develop an effective incentive plan including the steps involved in how to design, implement, communicate and review an incentive plan. Participants will also learn how to design incentive plans that are equitable and reflect individual contribution through appropriate levels of reward to ensure that employees are motivated to meet and exceed their objectives.

 

Learning Objectives
  • Understand the relationship that variable pay has with respect to total rewards
  • Understand the benefits an effective incentive program can bring to an organisation
  • Outline the different types of variable pay programs
  • Know how to develop an effective variable pay plan to suit specific organisational requirements and business needs

Who Should Attend

This course is suitable for managers, human resources and remuneration and benefits professionals who are responsible for the development and ongoing management of both short-term and long-term variable reward programs within their organisation.

Summary of Course Content
  • Total Rewards – the big picture
  • Components of total reward
  • Variable pay defined
  • The benefits of variable pay
  • Types of variable pay programs
  • How to develop an effective company-wide variable pay plan
  • How to develop an effective variable pay plan for a specific function/job family
  • Latest trends in the area of variable reward programs

Sydney, Melbourne, Adelaide, Perth, Brisbane and Hobart

Cost

AUD $990.00 (plus GST)

Course dates:

We will be conducting the Remuneration and Benefits: Core Components and Strategies course in:

Sydney, Melbourne, Brisbane and Perth.
Please contact us to register your interest in attending the next training program is being held in your state or email us at: This email address is being protected from spambots. You need JavaScript enabled to view it..