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GR6: Variable Pay: Incentives, Recognition and Bonuses

Variable Pay — Improving Performance with Variable Pay

Designing for Results

This intermediate-level course presents the fundamentals of variable pay. The course focuses on compensation strategy and variable pay, definitions and the design and implementation of incentive, recognition and bonus plans.

  • Learn about the three categories of variable pay.
  • Identify common business strategies and objectives for achieving them.
  • Examine internal and external factors.
  • Discuss the activities for designing the structure of the plan.
  • Find out aspects to consider in establishing target performance and payouts.
  • Learn about funding and distribution of plan earnings.
  • Discover how to implement, communicate and evaluate the success of your plan.
What You Will Learn  |  More Info  |  Who Should Register  |  How to Register


Learning Options

 

Course Schedules
Jun 06 - 08
12:00 PM
The Hague, Netherlands
Course & Exam
Course Only
Jun 11 - 12
8:30 AM
Saint Petersburg, FL
Course & Exam
Jun 13 - 14
8:30 AM
Philadelphia, PA
Contact Sponsor
Jun 14 - 15
8:30 AM
Seattle (Bellevue), WA
Course & Exam
Course Only
Jun 15 - 17
9:00 AM
(This course is taught in Mandarin)
Shanghai, Peoples Rep. of China
Contact Sponsor
Jul 10 - 12
8:30 AM
London, United Kingdom
Contact Sponsor
Jul 17 - 18
8:30 AM
Los Angeles (Long Beach), CA
Course & Exam
Course Only
Jul 23 - 24
8:30 AM
New York, NY
Course & Exam
Course Only
Jul 23 - 25
8:30 AM
Causeway Bay (Hong Kong), SAR, Hong Kong
Contact Sponsor
Aug 06 - 07
8:30 AM
Columbus, OH
Course & Exam
Course Only
Aug 14 - 15
8:30 AM
Toronto, ON
Course & Exam
Course Only
Aug 16 - 17
8:30 AM
Richmond, VA
Course & Exam
Course Only
Aug 27 - 29
8:30 AM
Capetown (Cape Town), South Africa
Contact Sponsor
Sep 10 - 12
9:00 AM
Singapore, Singapore
Contact Sponsor
Sep 13 - 15
8:30 AM
(This course is taught in Spanish)
Buenos Aires, Argentina
Contact Sponsor
Sep 17 - 18
8:30 AM
Orlando (Lake Buena Vista), FL
Contact Sponsor
Sep 19 - 21
8:30 AM
(This course is taught in Spanish)
Madrid, Spain
Contact Sponsor
Sep 19 - 20
8:30 AM
Milwaukee (Pewaukee), WI
Course & Exam
Course Only
Sep 21 - 23
8:30 AM
(This course is taught in Spanish)
Mexico City (Distrito Federal, CP), Mexico
Contact Sponsor
Sep 24 - 25
8:30 AM
Houston, TX
Course & Exam
Course Only
Oct 11 - 12
8:30 AM
San Francisco, CA
Course & Exam
Course Only
Oct 16 - 17
8:30 AM
Detroit (Troy), MI
Course & Exam
Course Only
Oct 22 - 24
9:00 AM
Melbourne, VC, Australia
Course & Exam
Oct 29 - 31
8:30 AM
Sydney, NSW, Australia
Course & Exam
Nov 12 - 13
8:30 AM
Austin, TX
Course & Exam
Course Only
Dec 04 - 05
8:30 AM
Bangalore, India
Course & Exam
Course Only
 

 

What You Will Learn  

Total Rewards and Variable Pay

  • Elements of compensation
  • Categories of variable pay

Supporting Business Objectives through Variable Pay

  • Business strategy
  • Business strategy drives business objectives
  • Business lifecycle
  • Variable pay helps achieve business objectives

Types of Variable Pay

  • Incentive plans
    • Short-term incentive plans
      • Profit-sharing plans
      • Performance-sharing plans
      • Individual performancebased plans
    • Long-term incentive plans
      • Equity- and nonequitybased plans
  • Bonus plans
    • Referral
    • Hiring (sign-on) bonus
    • Retention (stay) bonus
    • Project completion bonus
  • Recognition plans
    • Spot awards
    • Managerial recognition
    • Nominations
    • Organizationwide recognition

Developing a Variable Pay Plan — Phases 1 and 2

  • Phase 1: Pre-Design
    • Considering internal and external factors
    • Obtaining management support
    • Identifying the design team
  • Phase 2: Design
    • Determining plan objectives and plan type
    • Defining eligibility
    • Selecting performance measures

Developing a Variable Pay Plan — Phase 3

  • Phase 3: Funding and distribution
    • Determining performance targets and payouts
    • Funding the plan
    • Distributing plan earnings
  • Final approval

Implementation and Evaluation

  • Plan implementation
    • Selecting the implementation team
    • Developing the communication plan
    • Introducing the plan
    • Coordinating plan administration
  • Plan evaluation
    • Determining plan effectiveness
    • Why plans fail
    • Potential evaluation outcomes
Who Should Register  
Course GR6 is designed for HR professionals responsible for designing, assessing or maintaining variable pay programs.
 
How to Register  
 
More Information  
 Course Credits
CCP: Required
GRP: Required
Recertification: 2 course, .5 Exam
CEUs: 1.5 Course, .3 Exam
CPEs: 16
CFP: 8
CPT: 12 points
PHR/SPHR/GPHR recertification hours: 16 (classroom)
 Course Book Amendments
 Terms and Conditions

Please note: If you are purchasing an exam option, you must schedule and complete the computer-based exam within 120 days from the first day of a live instructor-led class or from date of purchase for all self-paced learning packages. Your eligibility expires after 120 days; however, 30-day exam extensions are available for a $150 USD fee when purchased before the original access expires. It is recommended that you complete your exam in a timely manner as exams may be updated without notification. Instructions for scheduling your computer-based exam will be provided at purchase. Learn more at www.worldatwork.org/cbt. Self-study materials and all e-learning product purchases are nonreturnable.

WorldatWork classroom locations offer e-course materials technology to participants. Your certification course materials (and BAII calculator, if applicable) will be available for pick up on site the day of the course. For two-day courses, you may access the e-course materials PDF two weeks prior to the course start date or upon registration if you register within two weeks of the course.

E-learning course purchasers now have the option of print or e-course materials. Those who choose the e-course materials option will receive the materials electronically for the length of your e-learning program. Those who choose the print version of the course materials will receive it  5-7 days after date of purchase. 30-day extensions of e-learning access are available for a fee if purchased before original access expires.

Blended Learning e-course materials can be found within the product and will be available for the length of the course.

Please visit www.worldatwork.org/seminars to download course material amendments, view class rosters and to find out what to bring to your class.

*Join now and receive the best value. This includes both a one-year WorldatWork Premier membership and course registration. Add the course to your cart and then click "Join Now" before proceeding to check out.

 

 

 

 
Certification Exam: GR6
Certification Paths
Global Remuneration Professional
This is a required exam to obtain a GRP.
 
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