Beyond base pay, many employers find it challenging to determine how to compensate their employees to maximize performance and retention. This training session teaches managers or those responsible for this HR function how to effectively determine base pay as well as the other considerations that need to be taken into account when creating an effective compensation strategy for your team.

Instructional Objectives:

The following topics will be covered:

  • The key components of an effective compensation strategy;
  • How compensation impacts your company’s culture;
  • Non-compensation-related considerations which influence how to compensate staff;
  • The effectiveness of perks and incentives;
  • How to determine base pay; and
  • The compensation strategy pitfalls small businesses must avoid to optimize performance and retention of their employees.

Measurable Learning Outcomes:

By the end of this course participants will:

  • Have a solid understanding of the key pitfalls to avoid when designing their compensation strategy;
  • Understand how to effectively research base salaries for a variety of positions;
  • Have enough knowledge to fine-tune or begin designing the compensation strategy for their employees.

This program builds competencies in the following areas:

Duration: 8 Hours

Format: Group Training