Beyond Base Pay - Using Incentives to Drive Performance
** Nonprofit and public sector employees are eligible for a 15% discount on tuition for this course.
** If you need an alternative to registering online or are a member of the ILR Alumni Association, please click here for information on registration procedures.
As the pressure to “do more with less” increases, many organizations are searching for ways to more efficiently utilize compensation budgets to achieve their strategic goals. Directly linking pay to performance is one of the key solutions currently being discussed. Understanding how to link pay to performance, creating an appropriate compensation philosophy, and knowing what types of incentive pay are most effective for which groups of employees are critical to the success of incentive and merit pay programs.
This two-day course will outline how to build the appropriate contextual framework for developing, implementing, and evaluating performance-based incentive and merit pay systems. Multiple, real-world scenarios illustrate how to achieve business objectives and strategic ambitions. Emphasis is placed on customized action plans, rather than “one size fits all” solutions.
While this course can be taken on a stand-alone basis, the Institute for Compensation Studies (ICS) Advanced Certificate in Performance Pay, Metrics and Practice Alignment is given to recognize completion of the four courses in the certificate curriculum.
Who Should Attend?
This course is designed for compensation practitioners, analysts, managers and experienced HR professionals and business partners who want to improve their capabilities and insight across a broad spectrum of pay-for-performance considerations.
Class size is limited to facilitate interaction with faculty, stimulate peer-professional exchange, and create a participatory learning experience.
What is the Course Curriculum?
Designed in collaboration with senior faculty at Cornell University’s ILR School, this course offers the perfect blend of academic study and practical application. The course content includes case studies to illustrate key concepts, and is underpinned by an evidence-based, social science approach.
Topics addressed in this course include:
- Supporting your business strategy with a performance-based compensation system
- Aligning organization, group and employee goals with performance measures
- Assessing different types of variable pay and equity programs
- Funding considerations and trade-offs
- Framing the efficacy and return of a performance-based pay system
This program has been submitted to the HR Certification Institute for review.
Note: The information presented in this seminar is for educational purposes and should not be interpreted as legal advice.
How will my organization and I benefit?
Participants will leave the course with an improved capacity to analyze, execute and influence practice and policy with respect to variable compensation. Organizations can benefit through improved alignment of individual and group efforts with organizational goals, and a richer understanding of variable compensation programs and the practical cost implications.