Compensation is an eventual part of the exit process for employees. This course will help managers learn how to discuss compensation issues, rewards, as well as company benefits with individual employees.
Maintain the image of your organization by having ample understanding of compensation.
- Understanding how to tag compensation to performance and rewards
- Learn the 'Compensation Rule of Thumb' and when rewards should be tweaked for those who have "gone above and beyond"
- Understand the step process of handing out compensation
- Learn how to approach this delicate matter with the right mentality
This course qualifies for PMI Professional Development Units (PDU)
1. Know the Market Range Compensation
2. How to assess performance and rewards
3. Linking Performance and Rewards
4. Recognizing those who went above and beyond
5. Benefits Discussion
6. Compensation Rule of Thumb
7. Evaluating Performance in the Right Way
Help employees know what the compensation market range is for their role
Discuss with your employees how individual performance impacts rewards and compensation
Create a clear link between performance delivered and rewards received
Identify who needs to be rewarded for working hard and going above and beyond what’s required
Conduct a benefits discussion with your team
Determine if each employee’s compensation package is within market range
Determine if you're doing the right things when evaluating an employee's performance