There is recognition of a strong link between the growth and performance of an enterprise and its reward system. Studies and experience have shown that some reward systems raise productivity and create value while others destroy value and kill organisations.
Once the framework for “Performance Management” has been set it is important to back it with an appropriate Reward System to drive performance beyond the average. It seeks to use the Reward System to drive the creation of strong value for organisations.
In this country for instance, it has become advantageous to be a member of a trade union because union power has often been used to extract premium from employers even when organisations are facing difficult market conditions and growth and profitability are under intense pressure. Though this is changing the pace is slow and managers do not always understand the factors that should underpin this change.
This Programme will help you deal with this dichotomy, build transparency into your reward system and create the motivation for higher performance and increased productivity.
Using Reward System to Drive Productivity and Growth will assist organisations to make the important shift away from reward systems that are driven by history and employee demands unrelated to productivity and value generation to reward systems that create value and grow companies for the benefit of all stakeholders. The module covers:
1. Building the right organisational culture;
2. Making reward a value creation tool rather than simply a monetary contract;
3. Defining what should determine the reward system;
4. Transforming the reward system into a business opportunity;
5. Using the reward system to stimulate growth and improve productivity;
6. Defining the link between the reward, the individual and his/her performance;
7. Helping the organisation link rewards to performance at individual, team and corporate levels.
There will be presentations and group discussions. The programme will make use of case studies, exercises and presentations by speakers.
This is a very useful programme for Business Executives, HR professionals, Managers and Public Sector leaders