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WorldatWork Course C12 - Virtual
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WorldatWork Course C12 - Virtual

C12 - Variable Pay - Improving Performance with Variable Pay

 Export to Your Calendar 8/6/2020 to 8/7/2020
When: August 6 & 7, 2020
8:30AM - 5:00PM
Where: National Safety Council Training Center
11620 M Circle
Omaha, Nebraska  68137

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As a WorldatWork Local Network member, HRAM, is able to offer local practitioners networking advantages along with educational and association fundraising opportunities.  HRAM’s dedication to enhancing your member experience includes our partnership with WorldatWork to bring Total Rewards certification courses to our area at the highest discounted rate possible. 

Variable Pay - Improving Performance with Variable Pay (C12)

Master Variable Pay Plans that Support Your Organization’s Business Objectives 

Variable pay compensation can improve employee motivation and performance along with positively impacting your organization’s goals for profitability and productivity. This course will teach you the fundamentals of variable pay with a focus on compensation strategy.

In this course you will cover:

  • Identifying common business strategies and objectives for achieving them.
  • Aligning variable pay programs with business strategy.
  • The three categories of variable pay.
  • Examining internal and external factors affecting variable pay plans.
  • The activities for designing variable pay compensation strategy, including funding and distributing plan earnings.
  • How to implement, communicate and evaluate the success of variable pay compensation and benefits plans.

This course is ideal for the human resources professional responsible for designing, assessing and maintaining variable pay plans.

In the course, you’ll learn the fundamentals of variable pay programs, including:

Supporting the Business Objective through Variable Pay

Learn about the elements of compensation, business strategy and how that drives business objectives, the business lifecycle and how variable pay helps achieve business objectives.

Types of Variable Pay

Dive into the three categories of variable pay programs, including Incentive plans, bonus plans and recognition plans:

  • Incentive plans covers short-term incentive plans, including profit-sharing, performance-sharing and individual performance-based plans.
  • Long-term incentive plans covers equity- and non-equity based plans.
  • For bonus plans, learn about referral bonus, hiring (sign-on) bonus, retention (stay) bonus and project completion bonus.
  • For recognition plans, understand spot awards, managerial recognition, nominations and organization-wide recognition.

Developing a Variable Pay Plan: Phases 1 and 2

In Phase 1, discover internal and external factors impacting variable pay plans, how to obtain management support and identify a variable pay design team. In Phase 2, learn about plan objectives and plan types, how to define eligibility and select performance measures.

Developing a Variable Pay Plan: Phases 3

In Phase 3, you’ll learn about funding and distribution by determining performance targets and payouts, funding the variable pay plan, distributing plan earnings and obtaining final approval.

Implementation and Evaluation

Bring your learning together with this final unit on how to implement the variable pay program including selecting the implementation team, developing the communication plan, introducing the plan and coordinating the plans administration. You will also learn how to evaluate the plan’s effectiveness, why variable pay plans fail and potential evaluation outcomes.

Variable pay plans support and impact your organization’s business goals and objectives. Understanding this form of compensation strategy is an essential skill for today’s HR compensation professional. This course will empower you with the knowledge you need to design, implement and evaluate variable pay plans.

REGISTER ONLINE AT WORLDATWORK

*Discounts available for HRAM members. HRAM offers the lowest rate possible. Be sure to note on your registration form that you are a HRAM member.

 Course & Exam Package Fees – Includes tuition, course materials and certification exam

 HRAM Member  $1,350 USD*
 WorldatWork Member  $1,495 USD
 Non-Member  $2,200 USD
 >>>Register today!

 *Other association member price may vary all pricing subject to change.

 *HRAM provides lunch, snacks, coffee and water are provided for attendees.


DISCOUNTS for WorldatWork Products

Local Network Promo Code: The 2020 promo code is LNPROMO2020.  This code entitles your members to preferred pricing on WorldatWork products. When used, the code provides a revenue share back to the Local Network Association, HRAM.  Please note the promo code does not apply to ALL products.  Eligible products will reflect a price reduction when the promo code is used in the shopping cart.

Thank you to our HRAM Sponsors and Partners

Human Resource Association of the Midlands

Rockbrook Village
11060 Oak Street, Suite 5    Omaha, NE 68144
P 402.932.1007    F 402.932.1095

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