Creating and Setting Up an Incentive-Based Rewards System

Who is the workshop intended for?

The training program “Creating and setting up an incentive reward system” is primarily intended for HR practitioners whose main responsibility is the design and maintenance of the reward system as well as the development and upgrade of other advanced HR functions. In addition to them, operational management can also benefit from the workshop because it will bring them closer to the tasks and responsibilities of HR in designing a fair and effective reward system and emphasize their role in objectively evaluating the performance of subordinates.

Training objectives

The basic goal of the training program is to explain how to create and set up a stimulating reward system and how it participates in the realization of the overall financial goals of the organization through a strong impact on the employee performance management system. The training program will explain the basic elements, principles and methodology in building a system and explain the concept of ‘full compensation’. The case study will analyze the practical implications of the system, and propose both applicable and feasible solutions related to other elements of the human resource management system. In addition to the structured presentation of the lecturers, which will set the framework for further activities of the group, key ideas and concepts will be analyzed through constant interaction and exchange of experiences. It will be done by using case studies and targeted analyzes, encouraging group discussion and team presentations with constant moderation of lecturers.

Workshop content

• what are the basic goals of a coherently set reward system
• how to objectively evaluate the importance and weight of individual positions in the organization
• which are the organizational and which are the individual criteria of success (realization)
• linking financial reward with employee performance
• how is the reward system related to the value system of the organization
• how can the motivation of “new” generations of employees influence changes in approach
• applying the fixed-wage system, the variable wage system and their mix
• what can a comparative analysis of wages among market competitors serve for?
• what is a “full compensation” system and how is it related to the elements of the HRM system
• how are rewards affected by changing circumstances in talent acquisition
• what are the limitations of classical reward systems in times of crisis
• how to communicate the reward system to different generations.

DURATION: ONE DAY TRAINING PROGRAM

Human resources

Creating and setting up an incentive-based rewards system