Overview
This course is designed to equip human resources professionals in developing and improving the use of variable pay to support annual business results. While management may oppose raising fixed costs such as base salary and allowances, owners and leaders of organizations generally embrace the use of variable pay which is generally self-funded when designed properly, and can significantly change employee behaviors, alignment of effort, motivation and attraction/retention of higher-performing talent.
The course covers the basic concepts in terminology surrounding variable pay including pay mix, types of incentives, team versus individual, line of sight, eligibility, performance measures and metrics, target setting and incentive plan diagnostics. The course focuses on corporate bonuses, sales compensation, profit sharing and gainsharing designs, and covers affective communication of incentives as well. Ample time is provided for open discussion including discussion of participant incentive challenges at work.
Who should attend?
The course will be highly beneficial for those with responsibility for managing designing, administering or reviewing incentive compensation plans including corporate bonuses, sales compensation or other forms of variable pay. Participants should have at least 2 years of experience doing compensation and benefits within a generalist or specialist role.
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FAQ
The client has the right to cancel his/her registration in the event.
There is a 50% liability on all conference registrations once made, whether the booking was made through our website or via e–mail/ telephone/ fax.
If the client cancels with more than 8 weeks’s advance notice, GLC shall be entitled to an amount equivalent to 50% of the conference fee and 16 EUR administration charge. In case the client has already made his/her payment, this will be deducted from the conference fee GLC has already received and the remainder will be refunded. If no conference fee has been received prior to the cancellation request, GLC will issue an invoice for the cancellation fee (the amount equivalent to 50% of the conference fee and 16 EUR administration charge), which the client must pay immediately upon receipt. No refunds are available for cancellations received with 8 week’s (or less) advance notice or in case the client fails to attend the conference. In these cases, the full amount of the conference fee must be paid.
- Get the timing right.
Many people are afraid to request for training budget, because they can’t seem to find the “perfect time” to do it. Well, there’s no perfect time to ask for it, but there are definitely some moments that are better than others. For instance, if your boss is about to take a two week vacation, he/she might be in a good mood. If he/she just lost a major account, may not be wise at that juncture. - Make a case for yourself
When you ask for budget, you should be prepared with specific details and explanations about what is in it for the company and you’re superior. If you go into a meeting and just say, “I want to get budget for a conference,” it’s likely that your request won’t be taken seriously. If you want to plan ahead, then you should be prepared to explain the following points:
1. Start by stating your accomplishments
2. Show that you’re ready for more responsibility and eager to learn
3. Describe:
a) How this event will increase your productivity?
b) How you will need less supervision
c) How you can bring back the knowledge to the company
4. Follow up