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1 0 1 0 1 torkornoo, e. k. (2014). toc. a manual of compensation & total rewards management.update mode1.5

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I am working on “A Manual of Compensation and Total Rewards Management”, a practitioner-oriented manual. A copy of the DRAFT outline or Table of Contents is attached or available.
It is intended to accomplish the following objectives, among others:
1. Provide a reference document for my EMBA and MBA students at KNUST School of Business (Ghana) where I facilitate learning (notice I did not say ‘teach’) as adjunct faculty;
2. Provide lots of opportunities for skill-building through problem-solving based on cases I have developed (and continue to develop) with a focus on emerging markets, and emerging issues : what I sometimes like to call ‘Rewards in the Jungle’);
3. Help develop a small cadre of ‘new school’ rewards professionals and practitioners in Ghana (and West Africa) as part of a decade of initiatives (details available) in this direction;
4. Leave a small ‘legacy’ before I move on to other things in life and beyond;
5. Provide practical alternatives and solutions to some of the troublesome omissions and commissions of rewards practices in Ghana;
6. Offer some alternative language and solutions to the growing Tower of Babel (and broader concomitant effects) in Rewards in Ghana as evidenced by the myriads of issues with Ghana public sector Single Spine Pay Policy and its implementation; and (you may stop reading at this point….:) unless you want to understand one of my passions…
7. Present some practical alternatives to Ghana’s failed Public School System –the highest consumers of Ghana Government revenues, and perhaps one of our greatest National Security Threats with their yearly production into the streets of hundreds of thousands of students who cannot read, ‘rite, reason, or do ‘rithmetic. Government in Ghana keep pouring money into the wrong things – they continue to pay teachers more and more for the wrong things, teachers complain more and more about the inadequacy of their rewards, whilst more and more children fail at increasingly higher rates.

With Ghana’s failed Public Schools, It is clearly not how much we pay, but HOW we pay. Sadly do not pay, or hold anybody fully accountable, for ‘improved student achievement’, and yet that is the very reason for the existence of the schools! We have lost our way. Besides, why are governments in Ghana still in this business of trying to run schools after years of years of evidence of increasing levels of failure (never mind increasing spending). The evidence of alternatives to success are clear: that private schools in Ghana, with less qualified teachers, are producing better results for students, and filling most of the places in the best universities in Ghana, and beyond. In fact most white collar employees, policy makers, and teachers themselves avoid sending their own children to public schools, especially at the basic schools level. It is a vote of no confidence in the Ghana Education Service.

A copy of the DRAFT outline or Table o

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1 0 1 0 1 torkornoo, e. k. (2014). toc. a manual of compensation & total rewards management.update mode1.5

  1. 1. DRAFT. Table of Contents. A Manual of Compensation and Total Rewards Management By E. K. Torkornoo COPYRIGHT@2011, 2014. E. K. TORKORNOO. All Rights Reserved. This material may not be stored, reproduced, transmitted, quoted, or used in any form, format, part, or portion in any medium, mode, means without the express written permission of the author. For permission to use, please contact the author, Mr. E. K. Torkornoo by Email: ekt2010associates@gmail.com; Or On Phone: +233-24-267-7015; OR +233-50-332-7127. This version printed on Thursday, October 23, 2014 Page 1 of 61 A Manual Of Compensation And Total Rewards Management By E. K. Torkornoo, M.Sc.(Econs) (London) Certified Compensation Professional (CCP)
  2. 2. DRAFT. Table of Contents. A Manual of Compensation and Total Rewards Management By E. K. Torkornoo COPYRIGHT@2011, 2014. E. K. TORKORNOO. All Rights Reserved. This material may not be stored, reproduced, transmitted, quoted, or used in any form, format, part, or portion in any medium, mode, means without the express written permission of the author. For permission to use, please contact the author, Mr. E. K. Torkornoo by Email: ekt2010associates@gmail.com; Or On Phone: +233-24-267-7015; OR +233-50-332-7127. This version printed on Thursday, October 23, 2014 Page 2 of 61 Table of Contents
  3. 3. DRAFT. Table of Contents. A Manual of Compensation and Total Rewards Management By E. K. Torkornoo COPYRIGHT@2011, 2014. E. K. TORKORNOO. All Rights Reserved. This material may not be stored, reproduced, transmitted, quoted, or used in any form, format, part, or portion in any medium, mode, means without the express written permission of the author. For permission to use, please contact the author, Mr. E. K. Torkornoo by Email: ekt2010associates@gmail.com; Or On Phone: +233-24-267-7015; OR +233-50-332-7127. This version printed on Thursday, October 23, 2014 Page 3 of 61 Section Section Name Topics / Sub Topics (Note: The topics are provided as an indicative guide to help understand the scope of the subject matter. Assessment will only be based on topics treated in class – Not on all the topics listed). A. Introduction, Importance, And ‘Hot’ Developments in Compensation & Total Rewards 1. Introduction, Importance, And ‘Hot’ Developments in Compensation & Total Rewards 1.1. Welcome To the ‘Hottest’ Field in Talent and Human Resource Management Today: Compensation and Total Rewards Management / Or Why Total Rewards Are Hot 1.2. Total Rewards: Strategic Route To The Top In HR, and Beyond 1.3. Total Rewards: The Most Comprehensive Approach To Talent Management 1.4. Pay For Performance: A Global Search For New Answers 1.5. Ghana’s Economic Survival: Percentage of National Budget Going To Pay Government Employees Salaries in Ghana: Risen Sharply To 70%; But Government Employee Want More 1.6. Ghana & The Single Spine Saga: Nobody Seems to Want To Get Married to The Single Spine 1.7. Ghana’s Failed Education System Gives Worse Results Even As We Spend More on Pay For Teachers: Problem With How (not How Much) We Pay Teachers 1.8. How Runaway Rewards And Incentives Contributed to The Global Financial Meltdown 1.9. Regulatory And Stakeholder Vigilance on Executive Compensation 1.10. Microsoft Drops Bell Curves and Stack Ranking Suspected as Causes of Weak Innovation, Poor Collaboration, etc. 1.11. Denominating Pay In Dollars: Lucky If You Get It in Ghana 1.12. The Age of Consolidation, Monetization, Dollarization, etc. 1.13. Global Labor In Search Of Petro-Dollars and Expatriate Assignments 1.14. What Do Employees Want: From Fried Rice Generation to Baby Boomers? 1.15. In Search Of The Magic Wand: From Job Satisfaction To Sustainable Engagement
  4. 4. DRAFT. Table of Contents. A Manual of Compensation and Total Rewards Management By E. K. Torkornoo COPYRIGHT@2011, 2014. E. K. TORKORNOO. All Rights Reserved. This material may not be stored, reproduced, transmitted, quoted, or used in any form, format, part, or portion in any medium, mode, means without the express written permission of the author. For permission to use, please contact the author, Mr. E. K. Torkornoo by Email: ekt2010associates@gmail.com; Or On Phone: +233-24-267-7015; OR +233-50-332-7127. This version printed on Thursday, October 23, 2014 Page 4 of 61 Section Section Name Topics / Sub Topics (Note: The topics are provided as an indicative guide to help understand the scope of the subject matter. Assessment will only be based on topics treated in class – Not on all the topics listed). B. Working Definitions And Language of Compensation and Total Rewards 2. Working Definitions And Language of Compensation and Total Rewards 2.1. Beware of Arcane, Anachronistic, Ancient, And Amateur / Pedestrian Terminology And Usage 2.2. The Tower Of Babel Afflicting The Single Spine Pay Policy In Ghana 2.3. What Is Total Rewards? A WorldatWork Reference 2.4. WorldAtWork Glossary 2.5. Other Definitions in Rewards Surveys and Reports By Major Consulting Companies 2.6. Emerging Terms And Language of Rewards 2.6.1. Terms From The New World of Executive Compensation and Rewards C. The Context And Environment of Compensation and Total Rewards 3. The Context And Environment of Compensation and Total Rewards 3.1. Legal, Regulatory, And Governance 3.1.1. External Legal, Regulatory, And Governance 3.1.2. Internal Legal, Regulatory, And Governance 3.1.2.1. Board Oversight & Committees 3.1.2.2. Other Internal Governance and Regulatory 3.2. Economic Context of The Firm And Rewards 3.2.1. Competition, Profitability, Etc. 3.2.2. Supply and Demand of Talent 3.2.3. Inflation, Cost of Living, Exchange Rates, Etc. 3.2.4. Profitability, Other Economic Metrics 3.3. Socio-Demographic Context of The Organization 3.4. Cultural, Historical, & Legacy Factors And Rewards 3.5. Other Context And Environment of Rewards 3.5.1. Technology & Data Management Context 3.5.2. Political Context of Rewards 3.5.3. Geography, Footprint, Locations, Etc. 3.5.4. Other Context And Environment of Rewards
  5. 5. DRAFT. Table of Contents. A Manual of Compensation and Total Rewards Management By E. K. Torkornoo COPYRIGHT@2011, 2014. E. K. TORKORNOO. All Rights Reserved. This material may not be stored, reproduced, transmitted, quoted, or used in any form, format, part, or portion in any medium, mode, means without the express written permission of the author. For permission to use, please contact the author, Mr. E. K. Torkornoo by Email: ekt2010associates@gmail.com; Or On Phone: +233-24-267-7015; OR +233-50-332-7127. This version printed on Thursday, October 23, 2014 Page 5 of 61 Section Section Name Topics / Sub Topics (Note: The topics are provided as an indicative guide to help understand the scope of the subject matter. Assessment will only be based on topics treated in class – Not on all the topics listed). D. Strategic Context: Company Strategy, HR Strategy, Rewards Strategy … 4. Strategic Context: Company Strategy, HR Strategy, Rewards Strategy … 4.1. Company Strategy Context 4.2. HR Strategy Context 4.3. Rewards Strategy Context 4.3.1. General Rewards Strategy Direction 4.3.2. Employee Segmentation In Rewards Strategy 4.3.3. Rewards Differentiation in Rewards Strategy 4.3.4. Employee Value Proposition (EVP) In Rewards Strategy 4.3.5. Performance - Rewards Links In Rewards Strategy 4.3.6. Talent Management and Rewards Strategy 4.3.7. Other Dimensions And Aspects of Rewards Strategy E. Psychology, Motivation, Behavior Context of Compensation and Total Rewards 5. Psychology, Motivation, Behavior Context of Compensation and Total Rewards 5.1. Introduction 5.2. A General Model (Of Mind, Motivation, Movement, and Money) 5.3. Equity Theory & Implications For Compensation & Total Rewards 5.4. Expectancy Theory & Implications For Compensation & Total Rewards 5.5. Skinner’s Reinforcement Theory & Implications For Compensation & Total Rewards 5.6. McGregor’s Theory X And Theory Y And Implications For Compensation & Total Rewards 5.7. Herzberg’s Two Factor Theory And Implications For Compensation & Total 5.8. Locke’s Goal Setting Theory And Implications For Compensation & Total 5.9. Employee Satisfaction, Engagement, And Behavior 5.10. Other Theories Related to Compensation & Total Rewards
  6. 6. DRAFT. Table of Contents. A Manual of Compensation and Total Rewards Management By E. K. Torkornoo COPYRIGHT@2011, 2014. E. K. TORKORNOO. All Rights Reserved. This material may not be stored, reproduced, transmitted, quoted, or used in any form, format, part, or portion in any medium, mode, means without the express written permission of the author. For permission to use, please contact the author, Mr. E. K. Torkornoo by Email: ekt2010associates@gmail.com; Or On Phone: +233-24-267-7015; OR +233-50-332-7127. This version printed on Thursday, October 23, 2014 Page 6 of 61 Section Section Name Topics / Sub Topics (Note: The topics are provided as an indicative guide to help understand the scope of the subject matter. Assessment will only be based on topics treated in class – Not on all the topics listed). F. Framework & Models of Compensation and Total Rewards 6. Framework & Models of Compensation and Total Rewards 6.1. A Systems View 6.1.1. Inputs into Compensation and Total Reward Programs 6.1.2. Throughputs in Compensation and Total Reward Programs 6.1.3. Outputs in Compensation and Total Reward Programs 6.1.4. Feedback in Compensation and Total Reward Programs 6.1.5. The Environment in Compensation and Total Reward Programs 6.1.6. Closed or Open Systems? 6.2. Total Rewards Model from WorldatWork (The Leading Association for Professional in Total Rewards) 6.2.1. Context of Total Rewards (Business Strategy, Organization Culture, HR Strategy, External Influences, Geography) 6.2.2. Five Elements of Total Reward Strategy 6.2.3. The Desired Behaviors 6.2.4. The Exchange Relationship (What Employer Provides, What Employee Provides), 6.2.5. Employee / Employer State of Being 6.2.6. The Evolution of Total Rewards: Total Rewards in Year 2000 versus Year 2006 6.3. E. K. Torkornoo’s Hierarchy of Performance (And Rewards) 6.3.1. A Model For Diagnosis of Problems 6.3.2. A Model For Prescribing Structured Solutions
  7. 7. DRAFT. Table of Contents. A Manual of Compensation and Total Rewards Management By E. K. Torkornoo COPYRIGHT@2011, 2014. E. K. TORKORNOO. All Rights Reserved. This material may not be stored, reproduced, transmitted, quoted, or used in any form, format, part, or portion in any medium, mode, means without the express written permission of the author. For permission to use, please contact the author, Mr. E. K. Torkornoo by Email: ekt2010associates@gmail.com; Or On Phone: +233-24-267-7015; OR +233-50-332-7127. This version printed on Thursday, October 23, 2014 Page 7 of 61 Section Section Name Topics / Sub Topics (Note: The topics are provided as an indicative guide to help understand the scope of the subject matter. Assessment will only be based on topics treated in class – Not on all the topics listed). G. The Rewards Program: Overview Of The Cascade of Critical Decisions In Compensation And Total Rewards 7. The Rewards Program: Overview Of The Cascade of Critical Decisions In Rewards 7.1. Importance And Uses Of The Rewards Program 7.1.1. A Tool For Strategy, Planning, And Delivery of Solutions 7.2. The Rewards Program Elements - Overview 7.2.1. Rewards Philosophy 7.2.2. Rewards Strategy 7.2.3. Rewards System 7.2.4. Rewards Mix 7.2.5. Rewards (Competitive) Policy Line(s) 7.2.6. Rewards Structure 7.2.7. Rewards Implementation 7.2.8. Rewards Analytics: Metrics, Measurement, Reporting, And Action H. Strategic Goals, Operational Objectives, Ideal Characteristics Of Compensation & Total Rewards – Important Distinctions 8. Strategic Goals, Operational Objectives, Ideal Characteristics Of Compensation And Total Rewards – Important Distinctions 8.1. Why The Distinctions Are Important 8.2. Strategic Goals of Compensation And Total Rewards 8.3. Operational Objectives of Compensation And Total Rewards 8.4. Ideal Characteristics of Compensation And Total Rewards 8.4.1.Corporate Strategy Alignment 8.4.2. Contribution 8.4.3. Compliance And Equity 8.4.4. Consistency: Internal 8.4.5. Currency 8.4.6. Competitiveness: External 8.4.7. Continuity & Sustainability 8.4.8. Cost-Benefit Analysis / Efficiency / ROI 8.4.9. Customization 8.4.10. Community Alignment 8.4.11. Communication Effectiveness
  8. 8. DRAFT. Table of Contents. A Manual of Compensation and Total Rewards Management By E. K. Torkornoo COPYRIGHT@2011, 2014. E. K. TORKORNOO. All Rights Reserved. This material may not be stored, reproduced, transmitted, quoted, or used in any form, format, part, or portion in any medium, mode, means without the express written permission of the author. For permission to use, please contact the author, Mr. E. K. Torkornoo by Email: ekt2010associates@gmail.com; Or On Phone: +233-24-267-7015; OR +233-50-332-7127. This version printed on Thursday, October 23, 2014 Page 8 of 61 Section Section Name Topics / Sub Topics (Note: The topics are provided as an indicative guide to help understand the scope of the subject matter. Assessment will only be based on topics treated in class – Not on all the topics listed). 8.4.12. Change Management Impact 8.4.13. Other Characteristics I. The Rewards Program – Intermediate Details: Rewards Philosophy and Rewards Strategy 9. The Rewards Program – Intermediate Details: Rewards Philosophy and Rewards Strategy 9.1. Overview of The Rewards Program Revisited 9.2. Rewards Philosophy 9.2.1. Rewards Philosophy Implications For Management Style 9.2.2. Theory X Rewards Philosophy 9.2.3. Theory Y Rewards Philosophy 9.2.4. Other Manifestations of Rewards Philosophy 9.2.5. Foresight Versus Hindsight Rewards Philosophy 9.2.6. Rewards Philosophy Statement 9.2.7. Case Studies & Exercises In Rewards Philosophy 9.3. Rewards Strategy: Revisit, Statement, 9.3.1. Cascade from Rewards Philosophy 9.3.2. Corporate – HR – Rewards Strategy Links 9.3.3. Factors Affecting Rewards Strategy 9.3.3.1. Stage of Development 9.3.3.2. Culture 9.3.3.3. Industry / Sector 9.3.3.4. Economics, Demand and Supply, Competition & Positioning 9.3.3.5. Socio-Demographic 9.3.3.6. Political 9.4. Special Dimensions of Strategy 9.4.1. Employee Segmentation 9.4.2. Employee Value Proposition 9.4.3. Differentiated Rewards 9.4.4. Rewards Strategy Statement
  9. 9. DRAFT. Table of Contents. A Manual of Compensation and Total Rewards Management By E. K. Torkornoo COPYRIGHT@2011, 2014. E. K. TORKORNOO. All Rights Reserved. This material may not be stored, reproduced, transmitted, quoted, or used in any form, format, part, or portion in any medium, mode, means without the express written permission of the author. For permission to use, please contact the author, Mr. E. K. Torkornoo by Email: ekt2010associates@gmail.com; Or On Phone: +233-24-267-7015; OR +233-50-332-7127. This version printed on Thursday, October 23, 2014 Page 9 of 61 Section Section Name Topics / Sub Topics (Note: The topics are provided as an indicative guide to help understand the scope of the subject matter. Assessment will only be based on topics treated in class – Not on all the topics listed). 9.5. Strategy Options – Overview 9.5.1. Traditional Organizations 9.5.2. Entrepreneurial Organizations 9.6. Strategic Analysis In Rewards 9.6.1. Units of Analysis in Rewards Strategy 9.6.2. Levels of Analysis in Rewards Strategy 9.6.3. Rewards Strategy Time Horizons 9.6.4. PEST Analysis 9.6.5. Scenario Planning 9.6.6. Five Forces Analysis 9.6.7. Market Segmentation 9.6.8. SWOT Analysis 9.7. Case Studies & Exercises in Rewards Strategy J. The Rewards Program – Intermediate Details: Rewards Systems 10. The Rewards Program – Intermediate Details: Rewards Systems 10.1. Definition 10.2. Overview 10.2.1.1. Job Based Reward Systems 10.2.1.2. Person-Based (Skill-based, Knowledge-Based, Competency-based,…) Reward Systems 10.2.1.3. Performance-Based Reward Systems 10.2.1.4. Hybrid Reward Systems 10.2.2. Job-Based Reward Systems 10.2.2.1. When and Why to Use Job-Based Pay Systems 10.2.2.2. Primary basis for Pricing Jobs in Job-Based Pay Systems 10.2.2.3. Methods, Moments and Madness in Job-Based Pay Systems 10.2.3. Person-Based (Skill-based, Knowledge-Based, Competency-Based …) Reward Systems
  10. 10. DRAFT. Table of Contents. A Manual of Compensation and Total Rewards Management By E. K. Torkornoo COPYRIGHT@2011, 2014. E. K. TORKORNOO. All Rights Reserved. This material may not be stored, reproduced, transmitted, quoted, or used in any form, format, part, or portion in any medium, mode, means without the express written permission of the author. For permission to use, please contact the author, Mr. E. K. Torkornoo by Email: ekt2010associates@gmail.com; Or On Phone: +233-24-267-7015; OR +233-50-332-7127. This version printed on Thursday, October 23, 2014 Page 10 of 61 Section Section Name Topics / Sub Topics (Note: The topics are provided as an indicative guide to help understand the scope of the subject matter. Assessment will only be based on topics treated in class – Not on all the topics listed). 10.2.3.1. When and Why to Use Person-Based Pay 10.2.3.2. Systems 10.2.3.3. Primary basis for Pricing in Person-Based Pay Systems 10.2.3.4. Methods, Moments and Madness in Person-Based Pay Systems 10.2.4. Performance-Based Reward Systems 10.2.4.1. When and Why to Use Performance-Based Pay Systems 10.2.4.2. Primary basis for Pricing Jobs in Performance-Based Pay Systems 10.2.4.3. Methods, Moments and Madness in Performance-Based Pay Systems 10.2.5. Case Studies & Exercises in Rewards Systems K. The Rewards Program – Intermediate Details: Special Note on Performance- Based Rewards Systems & Pay Increases 11. The Rewards Program – Intermediate Details: Special Note on Performance- Based Rewards Systems & Pay Increases 11.1. What Is Performance? Really! 11.2. A Hierarchy of Performance 11.3. When and Why to Use Performance-Based Pay Systems 11.4. Primary basis for Pricing in Performance-Based Pay Systems 11.5. Pure Performance-Based Pay Systems 11.6. Hybrid Pay Systems Emphasizing Performance-Based Pay 11.7. Examples of Performance-Based Pay Systems 11.7.1. Sales Compensation as a Model for Performance-Based Pay 11.7.2. Piece Work in Both Blue Collar and White Collar Environments 11.7.3. Individual Bonus and Incentive Systems 11.7.4. Team Group-Based Bonus and Incentive Systems 11.7.5. Some Organization-Wide Performance-Based Pay Plans 11.7.5.1.1. Profit Sharing 11.7.5.1.2. Gainsharing
  11. 11. DRAFT. Table of Contents. A Manual of Compensation and Total Rewards Management By E. K. Torkornoo COPYRIGHT@2011, 2014. E. K. TORKORNOO. All Rights Reserved. This material may not be stored, reproduced, transmitted, quoted, or used in any form, format, part, or portion in any medium, mode, means without the express written permission of the author. For permission to use, please contact the author, Mr. E. K. Torkornoo by Email: ekt2010associates@gmail.com; Or On Phone: +233-24-267-7015; OR +233-50-332-7127. This version printed on Thursday, October 23, 2014 Page 11 of 61 Section Section Name Topics / Sub Topics (Note: The topics are provided as an indicative guide to help understand the scope of the subject matter. Assessment will only be based on topics treated in class – Not on all the topics listed). 11.7.6. Methods, Moments and Madness in Performance-Based Pay Systems 11.7.7. Pay Increase Processes Related to Different Pay Systems 11.7.7.1. Pay Increase in Job-Based Pay Systems 11.7.7.2. Pay Increase in Person / Skill / Knowledge-Based Pay Systems 11.7.7.3. Pay Increase in Performance-Based Pay Systems 11.7.7.4. Pay Increase in Hybrid Pay Systems L. The Rewards Program – Intermediate Details: Rewards Mix 12. The Rewards Program – Intermediate Details: Rewards Mix 12.1. Rewards Mix (Elements, Components) 12.1.1. Rewards Mix Simplified: 12.1.1.1. Base Versus Variable 12.1.2. Other Definitions of 12.2. Rewards Mix: A Strategic Approach 12.3. Rewards Mix As Behavior & Performance Drivers 12.3.1. Determinants of What Should be Included in Pay Mix 12.3.2. Pay Mix and Units of Analysis: Some Aspects 12.3.2.1. Compensation 12.3.2.1.1. Fixed Compensation 12.3.2.1.1.1. Base Pay 12.3.2.1.1.2. Basic Pay Versus Base Pay: Nomenclature and Definitions 12.3.2.1.1.3. Allowances: Fixed 12.3.2.1.1.4. Allowances: Special Purpose & Contingent Allowances 12.3.2.1.1.5. Other Cash Elements and Allowances 12.3.2.1.1.6. Guaranteed Cash 12.3.2.1.2. Variable Compensation 12.3.2.1.2.1. Short Term Incentives 12.3.2.1.2.2. Long Term Incentives
  12. 12. DRAFT. Table of Contents. A Manual of Compensation and Total Rewards Management By E. K. Torkornoo COPYRIGHT@2011, 2014. E. K. TORKORNOO. All Rights Reserved. This material may not be stored, reproduced, transmitted, quoted, or used in any form, format, part, or portion in any medium, mode, means without the express written permission of the author. For permission to use, please contact the author, Mr. E. K. Torkornoo by Email: ekt2010associates@gmail.com; Or On Phone: +233-24-267-7015; OR +233-50-332-7127. This version printed on Thursday, October 23, 2014 Page 12 of 61 Section Section Name Topics / Sub Topics (Note: The topics are provided as an indicative guide to help understand the scope of the subject matter. Assessment will only be based on topics treated in class – Not on all the topics listed). 12.3.2.1.2.2.1. Cash 12.3.2.1.2.2.2. Equity / Share / Stock Compensation 12.3.2.1.2.2.3. Other 12.3.2.1.2.3. Other Variable Cash 12.3.2.2. Employee Benefits As Valuable Rewards Mix 12.3.2.3. Work Life Balance As Valuable Rewards Mix 12.3.2.4. Development and Career Opportunities As Valuable Rewards Mix 12.3.2.5. Developments in Rewards Mix 12.3.2.5.1. Pay Consolidation and Pay Monetization in Ghana: What, Why, Who, For Whom, When, How, So What? 12.3.3. Pay Mix in Different Type of Settings 12.3.3.1.1. By Type of Organization & Strategy 12.3.3.1.2. Traditional Organizations 12.3.3.1.3. Transitional Organizations 12.3.3.1.4. Entrepreneurial Organizations 12.3.3.1.5. By Role Level and Risk 12.3.3.1.6. Pay Mix In Sales Roles By Degree of Persuasion 12.3.3.1.7. Other Kinds of Mix M. The Rewards Program – Intermediate Details: Rewards (Competitive) Policy Line 13. The Rewards Program – Intermediate Details: Rewards (Competitive) Policy Line 13.1. Meaning of Pay Policy 13.2. Units of Analysis and Comparison In Rewards Policy Line Decisions 13.3. Typical Units of Comparison In Rewards Policy Line Decisions 13.3.1.1. Fixed Compensation Elements 13.3.1.2. Variable Compensation Elements 13.3.1.3. Total Cash Versus Target Total Cash 13.3.1.4. Total Value versus Target Total Value
  13. 13. DRAFT. Table of Contents. A Manual of Compensation and Total Rewards Management By E. K. Torkornoo COPYRIGHT@2011, 2014. E. K. TORKORNOO. All Rights Reserved. This material may not be stored, reproduced, transmitted, quoted, or used in any form, format, part, or portion in any medium, mode, means without the express written permission of the author. For permission to use, please contact the author, Mr. E. K. Torkornoo by Email: ekt2010associates@gmail.com; Or On Phone: +233-24-267-7015; OR +233-50-332-7127. This version printed on Thursday, October 23, 2014 Page 13 of 61 Section Section Name Topics / Sub Topics (Note: The topics are provided as an indicative guide to help understand the scope of the subject matter. Assessment will only be based on topics treated in class – Not on all the topics listed). 13.3.1.5. Other Units of Analysis and Comparison Rewards Policy Line Decisions 13.4. Level of Analysis In Rewards Policy Line Decisions – Choosing Comparators 13.4.1. The Game of Apples and Oranges 13.4.2. Cherry Picking Versus Real Comparisons 13.4.3. Scope, Geography, Industry, Level, Etc. 13.5. Rewards Policy Line Broad Alternatives And Rationale For Using Them 13.6. Multiple Policy Lines: Whether, When, Why And How To Use Them 13.7. Match; Lead; Lag; Lead-lag Rewards Policy Line Decisions 13.8. Rewards Surveys and Studies: The Dos And Don’ts Of Benchmarking and ‘Best Practices’ 13.9. Salary Surveys and Rewards (Competitive) Policy Line 13.9.1. Choosing Surveys 13.9.2. Choosing Comparators 13.9.3. Choosing Variables 13.9.4. Choosing Statistical Measures 13.9.5. Showing How You Compare 13.9.6. Showing Where You Want To Be For Target Employees 13.9.7. Other Policy Line Decisions in Using Surveys 13.9.8. Cases & Exercises in Rewards (Competitive) Policy Line N. The Rewards Program – Intermediate Details: Rewards Structure 14. Rewards Structure 14.1. Rewards Structure Versus Pay Structure: Is There A Difference? 14.2. Use and Misuse Of The ‘Structure’ in Rewards 14.3. Overview of Goals, Uses, and Nature of Rewards Structure 14.4. Rewards Structure and Employee Behavior 14.5. Rewards Structure Versus Pay System: Which Drives Which? 14.6. Rewards Structure, Pay Structure, Pay Ladders, Pay Spines as Hierarchies of The Value of Jobs and Work 14.7. Methods for Determining The Value of Jobs and Work
  14. 14. DRAFT. Table of Contents. A Manual of Compensation and Total Rewards Management By E. K. Torkornoo COPYRIGHT@2011, 2014. E. K. TORKORNOO. All Rights Reserved. This material may not be stored, reproduced, transmitted, quoted, or used in any form, format, part, or portion in any medium, mode, means without the express written permission of the author. For permission to use, please contact the author, Mr. E. K. Torkornoo by Email: ekt2010associates@gmail.com; Or On Phone: +233-24-267-7015; OR +233-50-332-7127. This version printed on Thursday, October 23, 2014 Page 14 of 61 Section Section Name Topics / Sub Topics (Note: The topics are provided as an indicative guide to help understand the scope of the subject matter. Assessment will only be based on topics treated in class – Not on all the topics listed). 14.7.1.1. Traditional Job Evaluation – Overview 14.7.1.1.1. Types of Job Evaluation 14.7.1.1.2. Compensable Factors 14.7.1.1.3. Distinctions: Position, Job, Job Class, Job Class Series, Job Family 14.7.1.1.4. Job Analysis: Scope, Focus, Processes, Data Collection 14.7.1.1.5. Job Descriptions: Dimensions and Elements 14.7.1.1.6. Using Job Evaluation Systems & Instruments 14.7.1.1.7. Comparisons – Job Hierarchies 14.7.1.1.8. Job Grades / Bands 14.7.1.1.9. Constructing the Pay Structure 14.7.1.1.10. Key Data Elements of Pay Structure 14.7.1.1.10.1. Pay Range: Minimum, Maximum, 14.7.1.1.10.2. Range Spread: Significance And Uses 14.7.1.1.10.3. Range Penetration 14.7.1.1.10.4. Pay To Max: A New Measure 14.7.1.1.10.5. Mid Point: Significance And Uses 14.7.1.1.10.6. Mid Point Progression: : Significance And Uses 14.7.1.1.10.7. Compa-ratio: : Significance And Uses 14.7.1.1.10.8. Other Element of Pay Structure 14.7.1.2. Market-Referenced Job Pricing (Market Pricing) – Overview 14.7.1.2.1. Before You Look at Surveys: Decisions, Decisions, Decision 14.7.1.2.1.1. Job Families to Cover in Market Pricing 14.7.1.2.1.2. Selecting Benchmark Jobs for Market Pricing 14.7.1.2.1.3. Verifying Job Descriptions for Market Pricing 14.7.1.2.2. Market Surveys Sources and Challenges 14.7.1.2.2.1. Sources of Surveys 14.7.1.2.2.2. Number of Survey Sources required for Reliability 14.7.1.2.2.3. Survey Quality Indicators
  15. 15. DRAFT. Table of Contents. A Manual of Compensation and Total Rewards Management By E. K. Torkornoo COPYRIGHT@2011, 2014. E. K. TORKORNOO. All Rights Reserved. This material may not be stored, reproduced, transmitted, quoted, or used in any form, format, part, or portion in any medium, mode, means without the express written permission of the author. For permission to use, please contact the author, Mr. E. K. Torkornoo by Email: ekt2010associates@gmail.com; Or On Phone: +233-24-267-7015; OR +233-50-332-7127. This version printed on Thursday, October 23, 2014 Page 15 of 61 Section Section Name Topics / Sub Topics (Note: The topics are provided as an indicative guide to help understand the scope of the subject matter. Assessment will only be based on topics treated in class – Not on all the topics listed). 14.7.1.2.3. Matching Your Jobs to Those in the Survey 14.7.1.2.3.1. Content, Level and Scope Dimensions 14.7.1.2.3.2. Data Dimensions 14.7.1.2.3.2.1. Number of companies reporting 14.7.1.2.3.2.2. Number of Survey Jobs per Benchmark Job 14.7.1.2.3.2.3. Data Elements / Variables In Use 14.7.1.2.3.2.4. Quality of Data 14.7.1.2.3.2.5. Data Cuts (Industry, Scope, etc.) 14.7.1.2.3.3. Adjusting The Data: Techniques For Fine-Tuning 14.7.1.2.3.3.1. Aging the Data 14.7.1.2.3.3.2. Geographic Adjustments 14.7.1.2.3.3.3. Adjusting for Composite (Multiple survey sources) 14.7.1.2.3.3.3.1. Average Versus Weighted Average 14.7.1.2.4. Market Pricing in a World without regular, reliable, third-party surveys: 14.7.1.2.4.1. The Pros And Cons Of Calling Around 14.7.1.2.4.2. The Pros And Cons Of Using “Club Data” 14.7.1.2.4.3. Data Elements available 14.7.1.2.4.4. Pros and Cons of Data Available 14.7.1.2.4.5. Consulting Firms And Providers of Market Surveys 14.7.2. Pay Structure Issues 14.7.2.1. Single Spine Versus Multiple Spine in Pay Structure 14.7.2.2. Organization Culture and Fit / Misfit of Pay Structure 14.7.2.3. Restriction of Range 14.7.2.4. Pay Compression 14.7.2.5. Managing the Basis for Progression through The Range 14.7.2.6. Overemphasis on Base Pay 14.7.2.7. Managing / Mismanaging Control Points
  16. 16. DRAFT. Table of Contents. A Manual of Compensation and Total Rewards Management By E. K. Torkornoo COPYRIGHT@2011, 2014. E. K. TORKORNOO. All Rights Reserved. This material may not be stored, reproduced, transmitted, quoted, or used in any form, format, part, or portion in any medium, mode, means without the express written permission of the author. For permission to use, please contact the author, Mr. E. K. Torkornoo by Email: ekt2010associates@gmail.com; Or On Phone: +233-24-267-7015; OR +233-50-332-7127. This version printed on Thursday, October 23, 2014 Page 16 of 61 Section Section Name Topics / Sub Topics (Note: The topics are provided as an indicative guide to help understand the scope of the subject matter. Assessment will only be based on topics treated in class – Not on all the topics listed). 14.7.2.8. Other Issues 14.7.3. The Limits of Pay Structure Versus Total Rewards Structure: Frontiers Of Practice 14.7.4. Cases & Exercises in Rewards Structure 14.7.4.1. A Tower of Babel Creates Rocky Marriage to The Single Spine Pay Policy In Ghana 14.7.4.2. Other Cases And Exercises O. The Rewards Program – Intermediate Details: Rewards Structure, Salary Surveys, Rewards Studies Etc. 15. The Rewards Program – Intermediate Details: Rewards Structure, Salary Surveys, And Rewards Studies 15.1. Range of Salary Surveys, Rewards Studies, Etc. 15.1.1. Salary Surveys: A Survey of Surveys 15.1.1.1. Salary Budget Surveys 15.1.1.2. Industry Surveys 15.1.1.3. Occupational Surveys 15.1.1.4. General Industry Surveys 15.1.1.5. Regional / Geographical Surveys 15.1.1.6. Geographical Differentials Surveys 15.1.1.7. Other Surveys 15.1.2. Rewards Studies 15.1.2.1. Why Rewards Studies 15.1.2.2. Providers of Rewards Studies 15.1.2.3. Scope of Rewards Studies 15.1.2.4. Cases And Examples of Rewards Studies 15.2. Participating In Salary Surveys (Versus Simply Using Off-The- Shelf Surveys) 15.2.1. A Common Problem: Reservations About Sharing Sensitive Salary Information
  17. 17. DRAFT. Table of Contents. A Manual of Compensation and Total Rewards Management By E. K. Torkornoo COPYRIGHT@2011, 2014. E. K. TORKORNOO. All Rights Reserved. This material may not be stored, reproduced, transmitted, quoted, or used in any form, format, part, or portion in any medium, mode, means without the express written permission of the author. For permission to use, please contact the author, Mr. E. K. Torkornoo by Email: ekt2010associates@gmail.com; Or On Phone: +233-24-267-7015; OR +233-50-332-7127. This version printed on Thursday, October 23, 2014 Page 17 of 61 Section Section Name Topics / Sub Topics (Note: The topics are provided as an indicative guide to help understand the scope of the subject matter. Assessment will only be based on topics treated in class – Not on all the topics listed). 15.2.2. Effect Of Reservations About Sharing Sensitive Salary Information 15.2.3. A Common Solution: Third Party Surveys by Reputable Survey Service Providers 15.2.4. Why Participate In Salary Surveys 15.2.5. Pre-requisites for Participation: Internal Resources 15.2.6. Rules of Participation: Confidentiality, Plus More 15.2.7. Purpose and Timing of Salary Surveys 15.2.8. Selecting Your Salary Surveys 15.2.8.1. Is One Survey Enough? 15.2.8.2. A Strategic Portfolio Approach To Salary Surveys 15.2.9. Getting Your Data Ready 15.2.9.1. Job Documentation: Job Descriptions 15.2.9.2. Benchmark Jobs: Meaning And Significance 15.2.9.3. Matching Jobs To Market Benchmark Jobs; Major Activity 15.2.10. Completing Questionnaires: Salary and Other Rewards Data 15.2.11. Completing Questionnaires: Rewards Practices 15.2.12. Submitting Questionnaires 15.2.13. Answering Follow-Up Questions 15.2.14. What Happens Behind The Scenes: Compiling, Analyzing, Developing Salary Survey Reports and Access to Databases 15.2.15. Acquiring / Purchasing Survey Results When You Participated 15.2.15.1. Sponsored Surveys: 15.2.15.2. Non-Sponsored Surveys 15.2.15.3. Hard Copy Survey Reports 15.2.15.4. Soft-Copy Survey Reports 15.2.15.5. Access To Survey Databases 15.2.16. Using Survey Data: Selected Decisions and Activities 15.2.16.1.1.1. Deciding What You Want And Why: Begin With The End In Mind
  18. 18. DRAFT. Table of Contents. A Manual of Compensation and Total Rewards Management By E. K. Torkornoo COPYRIGHT@2011, 2014. E. K. TORKORNOO. All Rights Reserved. This material may not be stored, reproduced, transmitted, quoted, or used in any form, format, part, or portion in any medium, mode, means without the express written permission of the author. For permission to use, please contact the author, Mr. E. K. Torkornoo by Email: ekt2010associates@gmail.com; Or On Phone: +233-24-267-7015; OR +233-50-332-7127. This version printed on Thursday, October 23, 2014 Page 18 of 61 Section Section Name Topics / Sub Topics (Note: The topics are provided as an indicative guide to help understand the scope of the subject matter. Assessment will only be based on topics treated in class – Not on all the topics listed). 15.2.16.2. Selecting Scope, Slices, Or Cuts of Data In Salary Surveys 15.2.16.3. Selecting Comparators 15.2.16.4. Choosing Data Variables (Units of Analysis and Comparison) 15.2.16.5. Understanding Measures of Dispersion and Central Tendency 15.2.16.5.1. The Median Versus The Mean 15.2.16.6. Using Quartiles and Percentiles 15.2.16.7. Determining Salary Movements in the Market 15.2.16.8. Other Analytical Considerations 15.2.16.9. Developing Internal Reports And Proposals For Change To Management 15.2.16.9.1. Outline of Internal Reports And Proposals For Change 15.2.16.9.2. Links to Organization’s Vision, Mission, Strategy 15.2.16.9.3. Where We Stand 15.2.16.9.4. Incorporating Other Rewards Studies In Decision-Making 15.2.16.9.5. What We Need To Change And Why: Making The Business Case For Change 15.2.16.9.6. Costing The Alternative Positions in the light of Market Movements 15.2.16.9.7. Pro-Forma Implementation Plans 15.2.16.9.8. Projecting Desired Outcomes To Be Monitored: A Much Under-served Task 15.2.16.9.9. Managing Presentations To Management 15.2.16.9.10. Managing Presentations To Boards 15.2.16.9.11. Developing Implementation Plans 15.2.16.9.12. Resource Requirements Within The Compensation And Rewards Function of Human Resource Departments
  19. 19. DRAFT. Table of Contents. A Manual of Compensation and Total Rewards Management By E. K. Torkornoo COPYRIGHT@2011, 2014. E. K. TORKORNOO. All Rights Reserved. This material may not be stored, reproduced, transmitted, quoted, or used in any form, format, part, or portion in any medium, mode, means without the express written permission of the author. For permission to use, please contact the author, Mr. E. K. Torkornoo by Email: ekt2010associates@gmail.com; Or On Phone: +233-24-267-7015; OR +233-50-332-7127. This version printed on Thursday, October 23, 2014 Page 19 of 61 Section Section Name Topics / Sub Topics (Note: The topics are provided as an indicative guide to help understand the scope of the subject matter. Assessment will only be based on topics treated in class – Not on all the topics listed). P. The Rewards Program – Intermediate Details: Rewards Program Implementation / Administration 16. The Rewards Program – Intermediate Details: Rewards Program Implementation / Administration 16.1. Required Resources for The Implementation Of The Rewards Program 16.1.1. Budgets: Capital and Operating Budgets For The Implementation Of The Rewards Program 16.1.2. Organizational Unit & Organization Structure For Rewards Management 16.1.3. Technical Staff For Rewards Management 16.1.4. Technology Systems / Platforms 16.1.5. Specialized Software & Licenses Beyond Typical ERP 16.1.6. Surveys, Studies, Subscriptions, and Sources of Data 16.1.7. Professional Associations: Membership, Resources, Activities 16.1.8. Professional Development: Conferences, Seminars & Workshops 16.1.9. Consultancy Support Projects 16.1.10. Outsourced Rewards Implementation Operations 16.2. Alliances & Partnerships For The Implementation Of The Rewards Program 16.2.1. Internal Alliances & Partnerships: 16.2.2. External Alliances & Partnerships – Outsourced Services 16.2.3. Unions & Staff Associations And Their Roles in The Implementation Of The Rewards Program 16.3. Additional Tools For Rewards Program Implementation: 16.3.1. Policy and Procedures Documentation 16.3.2. User Manuals For Supervisors 16.3.3. Employee Manuals 16.3.4. Orientation, Learning & Development (Training Programs) Programs 16.3.5. Rewards Communications (Details Elsewhere In This Outline 16.4. Using Testing & Quizzes To Reinforce Mastery & Currency of Knowledge Of Rewards Programs, Policy & Procedures 16.5. A Special Note on Emerging Technology For The Implementation Of The
  20. 20. DRAFT. Table of Contents. A Manual of Compensation and Total Rewards Management By E. K. Torkornoo COPYRIGHT@2011, 2014. E. K. TORKORNOO. All Rights Reserved. This material may not be stored, reproduced, transmitted, quoted, or used in any form, format, part, or portion in any medium, mode, means without the express written permission of the author. For permission to use, please contact the author, Mr. E. K. Torkornoo by Email: ekt2010associates@gmail.com; Or On Phone: +233-24-267-7015; OR +233-50-332-7127. This version printed on Thursday, October 23, 2014 Page 20 of 61 Section Section Name Topics / Sub Topics (Note: The topics are provided as an indicative guide to help understand the scope of the subject matter. Assessment will only be based on topics treated in class – Not on all the topics listed). Rewards Program 16.6. A Special Note on Rewards Surveys, Studies, Subscriptions, and Other Sources of Data Q. The Rewards Program – Intermediate Details: Rewards Program Implementation / Administration – Focus on Rewards Communications 17. The Rewards Program – Intermediate Details: Rewards Program Implementation / Administration – Focus on Rewards Communications 17.1. Importance of Rewards Communications 17.2. The Complex Environment Of Rewards Communications: Opportunities, Issues, Technology, Social / Demographic, Cultural, Etc. 17.3. A Total Rewards Approach To Rewards Communications 17.4. The Strategic Communications Process – Overview 17.5. Annual Calendar in The Implementation Of The Rewards Program 17.6. Special Events in The Implementation Of The Rewards Program 17.7. Cases & Exercises in Rewards Communication R. The Rewards Program – Intermediate Details: Rewards Program Implementation / Administration With Focus on Outsourcing 18. The Rewards Program – Intermediate Details: Rewards Program Implementation / Administration With Focus on Outsourcing 18.1.1.1. Rationale For Outsourcing Some Rewards Programs 18.1.1.2. Types of Rewards Programs Typically Outsourced 18.1.1.3. Some Selected Issues To Consider Before Outsourcing: 18.1.1.3.1. Data Security and Confidentiality 18.1.1.3.2. Disaster Management & Service Continuity 18.1.1.3.3. Resources of Vendors 18.1.1.3.4. Other Issues 18.1.1.4. Vendors of Outsourced Rewards Solutions 18.1.1.5. Deciding What To Outsource 18.1.1.6. Vendor Vetting: Requests For Proposals 18.1.1.7. Vendor Vetting: Reviewing Proposals From Vendors 18.1.1.8. Vendor Selection and Contracting
  21. 21. DRAFT. Table of Contents. A Manual of Compensation and Total Rewards Management By E. K. Torkornoo COPYRIGHT@2011, 2014. E. K. TORKORNOO. All Rights Reserved. This material may not be stored, reproduced, transmitted, quoted, or used in any form, format, part, or portion in any medium, mode, means without the express written permission of the author. For permission to use, please contact the author, Mr. E. K. Torkornoo by Email: ekt2010associates@gmail.com; Or On Phone: +233-24-267-7015; OR +233-50-332-7127. This version printed on Thursday, October 23, 2014 Page 21 of 61 Section Section Name Topics / Sub Topics (Note: The topics are provided as an indicative guide to help understand the scope of the subject matter. Assessment will only be based on topics treated in class – Not on all the topics listed). 18.1.1.9. Vendor Relationship Management 18.1.1.10. Monitoring Performance of Vendors of Outsourced Rewards Solutions 18.1.1.11. Closing Vendor Relationships And Making Transition Arrangements S. Employee Benefits Program Management 19. Employee Benefits Program Management 19.1. A Total Rewards Approach To Employee Benefits 19.1.1. Component Elements of Employee Benefits 19.1.2. A Problem With Employee Benefits: Under Estimated, Under Communicated, Under Appreciated, Under Valued 19.1.3. The Cost Of Employee Benefits Programs: Total Cost, Relative Cost, Other Costs 19.1.4. The Value of Employee Benefits 19.1.5. Matching Employer and Employee Perspectives 19.2. Issues And Developments in Employee Benefits Programs 19.2.1. Rising Costs: Healthcare, Insurance, Etc. 19.2.2. Demographic & Psychographic Changes 19.2.3. Employee Choices, Preferences, Utilization, And Abuse Issues 19.2.4. Communication Issues And Developments: Electronic Communications 19.2.5. Management Issues 19.2.6. Other Issues And Developments 19.3. Managing Mandated Employee Benefits 19.4. Managing Optional Employee Benefits 19.5. Managing Open Enrolment Programs & Processes 19.6. Managing Terminal Benefits 19.7. Monitoring Impact Of Employee Benefits 19.8. Case Studies / Exercises in Employee Benefits Management
  22. 22. DRAFT. Table of Contents. A Manual of Compensation and Total Rewards Management By E. K. Torkornoo COPYRIGHT@2011, 2014. E. K. TORKORNOO. All Rights Reserved. This material may not be stored, reproduced, transmitted, quoted, or used in any form, format, part, or portion in any medium, mode, means without the express written permission of the author. For permission to use, please contact the author, Mr. E. K. Torkornoo by Email: ekt2010associates@gmail.com; Or On Phone: +233-24-267-7015; OR +233-50-332-7127. This version printed on Thursday, October 23, 2014 Page 22 of 61 Section Section Name Topics / Sub Topics (Note: The topics are provided as an indicative guide to help understand the scope of the subject matter. Assessment will only be based on topics treated in class – Not on all the topics listed). T. Work-Life Balance Program Management 20. Work-Life Balance Program Management 20.1. A Total Rewards Approach To Work Life Balance Programs 20.1.1. Emerging Game-Changer in Competitive Positioning 20.1.2. Value and Alignment With Employees 20.2. Elements of Work Life Balance Programs 20.2.1. Workplace flexibility 20.2.2. Paid and unpaid time off 20.2.3. Health and well-being 20.2.4. Caring for dependents 20.2.5. Financial support 20.2.6. Community involvement 20.2.7. Management involvement/culture change interventions 20.3. Emerging Issues And Solutions in Work-Life Balance Management 20.4. Managing Work Life Balance Programs 20.4.1. Customization of Programs 20.4.2. Current Trends U. Performance and Recognition Program Management 21. Performance and Recognition Program Management 21.1. Managing Performance Management 21.1.1. A Total Rewards Approach To Performance And Recognition Programs 21.1.2. Elements of Performance and Recognition Programs 21.1.3. CENTRAL QUESTION: Why Do Public and Private Sector Organizations Fail To Perform, and What can We Do to Fix the Problem For Good? 21.1.4. Re-Defining Performance – A New Lens for Looking at Organizations and The People Who Work in Them 21.1.5. Goals of Performance and Recognition Programs
  23. 23. DRAFT. Table of Contents. A Manual of Compensation and Total Rewards Management By E. K. Torkornoo COPYRIGHT@2011, 2014. E. K. TORKORNOO. All Rights Reserved. This material may not be stored, reproduced, transmitted, quoted, or used in any form, format, part, or portion in any medium, mode, means without the express written permission of the author. For permission to use, please contact the author, Mr. E. K. Torkornoo by Email: ekt2010associates@gmail.com; Or On Phone: +233-24-267-7015; OR +233-50-332-7127. This version printed on Thursday, October 23, 2014 Page 23 of 61 Section Section Name Topics / Sub Topics (Note: The topics are provided as an indicative guide to help understand the scope of the subject matter. Assessment will only be based on topics treated in class – Not on all the topics listed). 21.1.6. Performance and Recognition Policy and Planning 21.1.7. Performance Management 21.1.7.1. Diagnosis of Performance Issues and Dimensions 21.1.7.1.1. The “Garbage Can” Approach To Diagnosis 21.1.7.1.2. A Systems Approach To Diagnosis 21.1.7.1.3. A Structured Hierarchy of Performance Approach To Diagnosis 21.1.7.1.3.1. Level of Analysis in Performance Management 21.1.7.1.3.2. Unit of Analysis in Performance Management 21.1.7.2. Design of Performance Management Programs 21.1.7.3. Development of Performance Management Programs 21.1.7.4. Delivery / Deployment / Implementation of Performance Management 21.1.7.5. Data Management / Evaluation of Performance Management 21.1.7.6. Emerging Issues in Performance Management 21.2. Recognition Programs V. MINI-SEMINAR High Performance Organizations: Critical Must Haves 22. High-Performance Organizations: Achieving High Performance Through Leading-Edge Strategy And Tools In Compensation & Total Rewards Management: Critical 'Must Haves’ [A MINI SEMINAR] 22.1. What Is High Performance, and What Is The Importance of Compensation & Total Rewards Strategy to That End? 22.2. High Performance and Why Compensation & Total Rewards Programs Fail: ABCD ‘Factors’- Examples Of Fatally-Flawed Gambles, Histrionics…. And …Idiocy…, In The Pursuit Of (Distributive, Procedural, And Other…) ‘Justice’ 22.3. Compensation & Total Rewards Strategy, Levels Of Analysis, And The Hierarchy Of Performance 22.4. The Problem With Attraction, Retention, Motivation, And Skill Development As Goals, OR Serious Limitations With The Tentative, Tenuous, Troublesome, And Tired
  24. 24. DRAFT. Table of Contents. A Manual of Compensation and Total Rewards Management By E. K. Torkornoo COPYRIGHT@2011, 2014. E. K. TORKORNOO. All Rights Reserved. This material may not be stored, reproduced, transmitted, quoted, or used in any form, format, part, or portion in any medium, mode, means without the express written permission of the author. For permission to use, please contact the author, Mr. E. K. Torkornoo by Email: ekt2010associates@gmail.com; Or On Phone: +233-24-267-7015; OR +233-50-332-7127. This version printed on Thursday, October 23, 2014 Page 24 of 61 Section Section Name Topics / Sub Topics (Note: The topics are provided as an indicative guide to help understand the scope of the subject matter. Assessment will only be based on topics treated in class – Not on all the topics listed). A-R-M-S Race 22.5. Distinction Between ‘Elemental’ Versus Strategic Approach To Compensation & Total Rewards Management for High-Performance 22.6. ‘The’ Must Haves: Eight (8) Essentials For High-Performance Total Rewards Strategy As Evidenced Globally 22.7. High-Performance Total Rewards Strategy: Putting It All Together 22.8. Obtaining Buy-In For High-Performance Total Rewards Strategy 22.9. Implementation of High-Performance Total Rewards Strategy For Success: Some Considerations 22.10. Did Our Strategy Make An Impact? Leveraging Improved Measurement And Metrics Beyond The ‘Old School’, A-R-M-S Waving, And Other Tiresome Approaches W. Special Rewards Programs – Overview 23. Special Rewards Programs – Overview 23.1. A Total Rewards Approach To Special Rewards Programs 23.2. Executive Compensation and Rewards – An Overview 23.3. Equity / Share Compensation and Rewards – An Overview 23.4. Sales Compensation And Rewards – An Overview 23.5. Development and Career Opportunities / Career Paths, Planning And Succession – An Overview 23.5.1. Understanding Relational Rewards X. Rewards Analytics: Measurement, Metrics, and Markets 24. Rewards Analytics: Measurement, Metrics, and Markets 24.1. Importance Of Rewards Analytics: Measurement, Metrics, and Markets 24.2. Strategic Level Measures, Metrics, And Markets 24.2.1. Metrics Of Interest By Stakeholder Type 24.2.2. Total Rewards Measurement, Metrics, and Markets 24.2.3. Employee Segmentation Measurement, Metrics, and Markets
  25. 25. DRAFT. Table of Contents. A Manual of Compensation and Total Rewards Management By E. K. Torkornoo COPYRIGHT@2011, 2014. E. K. TORKORNOO. All Rights Reserved. This material may not be stored, reproduced, transmitted, quoted, or used in any form, format, part, or portion in any medium, mode, means without the express written permission of the author. For permission to use, please contact the author, Mr. E. K. Torkornoo by Email: ekt2010associates@gmail.com; Or On Phone: +233-24-267-7015; OR +233-50-332-7127. This version printed on Thursday, October 23, 2014 Page 25 of 61 Section Section Name Topics / Sub Topics (Note: The topics are provided as an indicative guide to help understand the scope of the subject matter. Assessment will only be based on topics treated in class – Not on all the topics listed). 24.2.4. Differentiated Rewards Measurement, Metrics, and Markets 24.2.5. Employee Value Proposition Measurement, Metrics, and Markets 24.2.6. Performance Measurement, Metrics, And Markets 24.2.7. Other Strategic Level Measurement, Metrics, and Markets 24.3. Operational Level Measures 24.3.1. Reward System Check: Are We Really A Performance-Based Organization? 24.3.2. Reward Mix Measures, Metrics, And Markets 24.3.3. Reward (Competitive) Policy Line Measures, Metrics, And Markets 24.3.4. Fixed Compensation Measurement, Metrics, and Markets 24.3.4.1. Elements of Fixed Compensation 24.3.4.2. Job Evaluation Programs (Details in Other Documentation) 24.3.4.3. Market Surveys, Studies, and Statistics 24.3.4.3.1. Job Descriptions & Profiles for Market Comparisons: Focus on Benchmark Jobs 24.3.4.3.2. Key Surveys, Studies, and Data Sources: Selection and Targeting 24.3.4.3.3. Selecting Comparators: 24.3.4.3.3.1. Using Scope Data 24.3.4.3.3.2. Other Measures 24.3.4.3.4. Matching Benchmark Jobs to Jobs In Key Surveys 24.3.4.3.5. Market Data Analysis 24.3.4.3.6. Pay Structure Construction Considerations Aligned To Strategy 24.3.4.3.7. Decision-Making And Adjustments Relative to Data from Market Surveys, Studies, and Statistics 24.3.4.3.7.1. Dating and Aging Data 24.3.4.3.7.2. Factoring-In Economic Data 24.3.4.3.8. Financial Impact Determination of Alternative Responses to Market Data 24.3.4.4. Other Base Pay Programs
  26. 26. DRAFT. Table of Contents. A Manual of Compensation and Total Rewards Management By E. K. Torkornoo COPYRIGHT@2011, 2014. E. K. TORKORNOO. All Rights Reserved. This material may not be stored, reproduced, transmitted, quoted, or used in any form, format, part, or portion in any medium, mode, means without the express written permission of the author. For permission to use, please contact the author, Mr. E. K. Torkornoo by Email: ekt2010associates@gmail.com; Or On Phone: +233-24-267-7015; OR +233-50-332-7127. This version printed on Thursday, October 23, 2014 Page 26 of 61 Section Section Name Topics / Sub Topics (Note: The topics are provided as an indicative guide to help understand the scope of the subject matter. Assessment will only be based on topics treated in class – Not on all the topics listed). 24.3.4.4.1. Relative Ratios of Fixed Pay Elements 24.3.5. Variable Pay Measurement, Metrics, and Markets 24.3.5.1. Units of Analysis in Variable Pay Measurement, Metrics, And Measurement 24.3.5.2. Ratio of Variable pay To Other Rewards 24.3.5.3. Business Strategy and KPIs 24.3.5.4. Cascade of KPIs 24.3.5.5. Short Term Incentives Measurement, Metrics, and Markets 24.3.5.6. Long Term Incentive Measurement, Metrics, and Markets 24.4. Employee Benefits Measurement, Metrics, and Markets 24.5. Work Life Balance Measurement, Metrics, and Markets 24.6. Performance And Recognition Measurement, Metrics, and Markets 24.7. Development and Career Opportunities Measurement, Metrics, and Markets 24.8. Other Measurement, Metrics, and Markets Y. Special Developments, Issues, and Topics 25. Special Developments, Issues, and Topics in Compensation and Total Rewards 25.1. Say On Pay Legislation and Trends 25.2. Pay For Performance Focus of Executive Compensation 25.3. 2008-2009 Global Financial Crises, Executive Compensation, Governance and Accountability – Time for Change 25.4. The GCC: The World of Work and Compensation in The Middle East’s Gulf Cooperation Council (GCC) Countries: Defying Conventional ‘Wisdom’ NOTE: This module is about ‘Special Developments…”. As such information here is fluid and changes with little or no notice.
  27. 27. DRAFT. Table of Contents. A Manual of Compensation and Total Rewards Management By E. K. Torkornoo COPYRIGHT@2011, 2014. E. K. TORKORNOO. All Rights Reserved. This material may not be stored, reproduced, transmitted, quoted, or used in any form, format, part, or portion in any medium, mode, means without the express written permission of the author. For permission to use, please contact the author, Mr. E. K. Torkornoo by Email: ekt2010associates@gmail.com; Or On Phone: +233-24-267-7015; OR +233-50-332-7127. This version printed on Thursday, October 23, 2014 Page 27 of 61 Section Section Name Topics / Sub Topics (Note: The topics are provided as an indicative guide to help understand the scope of the subject matter. Assessment will only be based on topics treated in class – Not on all the topics listed). Z. Appendices, Glossary, And References 26. Appendices, Glossary, And References 26.1. Appendices 26.2. Glossary of Rewards Terminology 26.3. References
  28. 28. DRAFT. Table of Contents. A Manual of Compensation and Total Rewards Management By E. K. Torkornoo COPYRIGHT@2011, 2014. E. K. TORKORNOO. All Rights Reserved. This material may not be stored, reproduced, transmitted, quoted, or used in any form, format, part, or portion in any medium, mode, means without the express written permission of the author. For permission to use, please contact the author, Mr. E. K. Torkornoo by Email: ekt2010associates@gmail.com; Or On Phone: +233-24-267-7015; OR +233-50-332-7127. This version printed on Thursday, October 23, 2014 Page 28 of 61 CHAPTER DETAILS
  29. 29. DRAFT. Table of Contents. A Manual of Compensation and Total Rewards Management By E. K. Torkornoo COPYRIGHT@2011, 2014. E. K. TORKORNOO. All Rights Reserved. This material may not be stored, reproduced, transmitted, quoted, or used in any form, format, part, or portion in any medium, mode, means without the express written permission of the author. For permission to use, please contact the author, Mr. E. K. Torkornoo by Email: ekt2010associates@gmail.com; Or On Phone: +233-24-267-7015; OR +233-50-332-7127. This version printed on Thursday, October 23, 2014 Page 29 of 61 Section Section Name Topics / Sub Topics (Note: The topics are provided as an indicative guide to help understand the scope of the subject matter. Assessment will only be based on topics treated in class – Not on all the topics listed). A. Introduction, Importance, And ‘Hot’ Developments in Compensation & Total Rewards 1. Introduction, Importance, And ‘Hot’ Developments in Compensation & Total Rewards 1.1. Welcome To the ‘Hottest’ Field in Talent and Human Resource Management Today: Compensation and Total Rewards Management / Or Why Total Rewards Are Hot 1.2. Total Rewards: Strategic Route To The Top In HR, and Beyond 1.3. Total Rewards: The Most Comprehensive Approach To Talent Management 1.4. Pay For Performance: A Global Search For New Answers 1.5. Ghana’s Economic Survival: Percentage of National Budget Going To Pay Government Employees Salaries in Ghana: Risen Sharply To 70%; But Government Employee Want More 1.6. Ghana & The Single Spine Saga: Nobody Seems to Want To Get Married to The Single Spine 1.7. Ghana’s Failed Education System Gives Worse Results Even As We Spend More on Pay For Teachers: Problem With How (not How Much) We Pay Teachers 1.8. How Runaway Rewards And Incentives Contributed to The Global Financial Meltdown 1.9. Regulatory And Stakeholder Vigilance on Executive Compensation 1.10. Microsoft Drops Bell Curves and Stack Ranking Suspected as Causes of Weak Innovation, Poor Collaboration, etc. 1.11. Denominating Pay In Dollars: Lucky If You Get It in Ghana 1.12. The Age of Consolidation, Monetization, Dollarization, etc. 1.13. Global Labor In Search Of Petro-Dollars and Expatriate Assignments 1.14. What Do Employees Want: From Fried Rice Generation to Baby Boomers? 1.15. In Search Of The Magic Wand: From Job Satisfaction To Sustainable Engagement
  30. 30. DRAFT. Table of Contents. A Manual of Compensation and Total Rewards Management By E. K. Torkornoo COPYRIGHT@2011, 2014. E. K. TORKORNOO. All Rights Reserved. This material may not be stored, reproduced, transmitted, quoted, or used in any form, format, part, or portion in any medium, mode, means without the express written permission of the author. For permission to use, please contact the author, Mr. E. K. Torkornoo by Email: ekt2010associates@gmail.com; Or On Phone: +233-24-267-7015; OR +233-50-332-7127. This version printed on Thursday, October 23, 2014 Page 30 of 61 Section Section Name Topics / Sub Topics (Note: The topics are provided as an indicative guide to help understand the scope of the subject matter. Assessment will only be based on topics treated in class – Not on all the topics listed). B. Working Definitions And Language of Compensation and Total Rewards 2. Working Definitions And Language of Compensation and Total Rewards 2.1. Beware of Arcane, Anachronistic, Ancient, And Amateur / Pedestrian Terminology And Usage 2.2. The Tower Of Babel Afflicting The Single Spine Pay Policy In Ghana 2.3. What Is Total Rewards? A WorldatWork Reference 2.4. WorldAtWork Glossary 2.5. Other Definitions in Rewards Surveys and Reports By Major Consulting Companies 2.6. Emerging Terms And Language of Rewards 2.6.1. Terms From The New World of Executive Compensation and Rewards
  31. 31. DRAFT. Table of Contents. A Manual of Compensation and Total Rewards Management By E. K. Torkornoo COPYRIGHT@2011, 2014. E. K. TORKORNOO. All Rights Reserved. This material may not be stored, reproduced, transmitted, quoted, or used in any form, format, part, or portion in any medium, mode, means without the express written permission of the author. For permission to use, please contact the author, Mr. E. K. Torkornoo by Email: ekt2010associates@gmail.com; Or On Phone: +233-24-267-7015; OR +233-50-332-7127. This version printed on Thursday, October 23, 2014 Page 31 of 61 Section Section Name Topics / Sub Topics (Note: The topics are provided as an indicative guide to help understand the scope of the subject matter. Assessment will only be based on topics treated in class – Not on all the topics listed). C. The Context And Environment of Compensation and Total Rewards 3. The Context And Environment of Compensation and Total Rewards 3.1. Legal, Regulatory, And Governance 3.1.1. External Legal, Regulatory, And Governance 3.1.2. Internal Legal, Regulatory, And Governance 3.1.2.1. Board Oversight & Committees 3.1.2.2. Other Internal Governance and Regulatory 3.2. Economic Context of The Firm And Rewards 3.2.1. Competition, Profitability, Etc. 3.2.2. Supply and Demand of Talent 3.2.3. Inflation, Cost of Living, Exchange Rates, Etc. 3.2.4. Profitability, Other Economic Metrics 3.3. Socio-Demographic Context of The Organization 3.4. Cultural, Historical, & Legacy Factors And Rewards 3.5. Other Context And Environment of Rewards 3.5.1. Technology & Data Management Context 3.5.2. Political Context of Rewards 3.5.3. Geography, Footprint, Locations, Etc. 3.5.4. Other Context And Environment of Rewards
  32. 32. DRAFT. Table of Contents. A Manual of Compensation and Total Rewards Management By E. K. Torkornoo COPYRIGHT@2011, 2014. E. K. TORKORNOO. All Rights Reserved. This material may not be stored, reproduced, transmitted, quoted, or used in any form, format, part, or portion in any medium, mode, means without the express written permission of the author. For permission to use, please contact the author, Mr. E. K. Torkornoo by Email: ekt2010associates@gmail.com; Or On Phone: +233-24-267-7015; OR +233-50-332-7127. This version printed on Thursday, October 23, 2014 Page 32 of 61 Section Section Name Topics / Sub Topics (Note: The topics are provided as an indicative guide to help understand the scope of the subject matter. Assessment will only be based on topics treated in class – Not on all the topics listed). D. Strategic Context: Company Strategy, HR Strategy, Rewards Strategy … 4. Strategic Context: Company Strategy, HR Strategy, Rewards Strategy … 4.1. Company Strategy Context 4.2. HR Strategy Context 4.3. Rewards Strategy Context 4.3.1. General Rewards Strategy Direction 4.3.2. Employee Segmentation In Rewards Strategy 4.3.3. Rewards Differentiation in Rewards Strategy 4.3.4. Employee Value Proposition (EVP) In Rewards Strategy 4.3.5. Performance - Rewards Links In Rewards Strategy 4.3.6. Talent Management and Rewards Strategy 4.3.7. Other Dimensions And Aspects of Rewards Strategy
  33. 33. DRAFT. Table of Contents. A Manual of Compensation and Total Rewards Management By E. K. Torkornoo COPYRIGHT@2011, 2014. E. K. TORKORNOO. All Rights Reserved. This material may not be stored, reproduced, transmitted, quoted, or used in any form, format, part, or portion in any medium, mode, means without the express written permission of the author. For permission to use, please contact the author, Mr. E. K. Torkornoo by Email: ekt2010associates@gmail.com; Or On Phone: +233-24-267-7015; OR +233-50-332-7127. This version printed on Thursday, October 23, 2014 Page 33 of 61 Section Section Name Topics / Sub Topics (Note: The topics are provided as an indicative guide to help understand the scope of the subject matter. Assessment will only be based on topics treated in class – Not on all the topics listed). E. Psychology, Motivation, Behavior Context of Compensation and Total Rewards 5. Psychology, Motivation, Behavior Context of Compensation and Total Rewards 5.1. Introduction 5.2. A General Model (Of Mind, Motivation, Movement, and Money) 5.3. Equity Theory & Implications For Compensation & Total Rewards 5.4. Expectancy Theory & Implications For Compensation & Total Rewards 5.5. Skinner’s Reinforcement Theory & Implications For Compensation & Total Rewards 5.6. McGregor’s Theory X And Theory Y And Implications For Compensation & Total Rewards 5.7. Herzberg’s Two Factor Theory And Implications For Compensation & Total 5.8. Locke’s Goal Setting Theory And Implications For Compensation & Total 5.9. Employee Satisfaction, Engagement, And Behavior 5.10. Other Theories Related to Compensation & Total Rewards
  34. 34. DRAFT. Table of Contents. A Manual of Compensation and Total Rewards Management By E. K. Torkornoo COPYRIGHT@2011, 2014. E. K. TORKORNOO. All Rights Reserved. This material may not be stored, reproduced, transmitted, quoted, or used in any form, format, part, or portion in any medium, mode, means without the express written permission of the author. For permission to use, please contact the author, Mr. E. K. Torkornoo by Email: ekt2010associates@gmail.com; Or On Phone: +233-24-267-7015; OR +233-50-332-7127. This version printed on Thursday, October 23, 2014 Page 34 of 61 Section Section Name Topics / Sub Topics (Note: The topics are provided as an indicative guide to help understand the scope of the subject matter. Assessment will only be based on topics treated in class – Not on all the topics listed). F. Framework & Models of Compensation and Total Rewards 6. Framework & Models of Compensation and Total Rewards 6.1. A Systems View 6.1.1. Inputs into Compensation and Total Reward Programs 6.1.2. Throughputs in Compensation and Total Reward Programs 6.1.3. Outputs in Compensation and Total Reward Programs 6.1.4. Feedback in Compensation and Total Reward Programs 6.1.5. The Environment in Compensation and Total Reward Programs 6.1.6. Closed or Open Systems? 6.2. Total Rewards Model from WorldatWork (The Leading Association for Professional in Total Rewards) 6.2.1. Context of Total Rewards (Business Strategy, Organization Culture, HR Strategy, External Influences, Geography) 6.2.2. Five Elements of Total Reward Strategy 6.2.3. The Desired Behaviors 6.2.4. The Exchange Relationship (What Employer Provides, What Employee Provides), 6.2.5. Employee / Employer State of Being 6.2.6. The Evolution of Total Rewards: Total Rewards in Year 2000 versus Year 2006 6.3. E. K. Torkornoo’s Hierarchy of Performance (And Rewards) 6.3.1. A Model For Diagnosis of Problems 6.3.2. A Model For Prescribing Structured Solutions
  35. 35. DRAFT. Table of Contents. A Manual of Compensation and Total Rewards Management By E. K. Torkornoo COPYRIGHT@2011, 2014. E. K. TORKORNOO. All Rights Reserved. This material may not be stored, reproduced, transmitted, quoted, or used in any form, format, part, or portion in any medium, mode, means without the express written permission of the author. For permission to use, please contact the author, Mr. E. K. Torkornoo by Email: ekt2010associates@gmail.com; Or On Phone: +233-24-267-7015; OR +233-50-332-7127. This version printed on Thursday, October 23, 2014 Page 35 of 61 Section Section Name Topics / Sub Topics (Note: The topics are provided as an indicative guide to help understand the scope of the subject matter. Assessment will only be based on topics treated in class – Not on all the topics listed). G. The Rewards Program: Overview Of The Cascade of Critical Decisions In Compensation And Total Rewards 7. The Rewards Program: Overview Of The Cascade of Critical Decisions In Rewards 7.1. Importance And Uses Of The Rewards Program 7.1.1. A Tool For Strategy, Planning, And Delivery of Solutions 7.2. The Rewards Program Elements - Overview 7.2.1. Rewards Philosophy 7.2.2. Rewards Strategy 7.2.3. Rewards System 7.2.4. Rewards Mix 7.2.5. Rewards (Competitive) Policy Line(s) 7.2.6. Rewards Structure 7.2.7. Rewards Implementation 7.2.8. Rewards Analytics: Metrics, Measurement, Reporting, And Action
  36. 36. DRAFT. Table of Contents. A Manual of Compensation and Total Rewards Management By E. K. Torkornoo COPYRIGHT@2011, 2014. E. K. TORKORNOO. All Rights Reserved. This material may not be stored, reproduced, transmitted, quoted, or used in any form, format, part, or portion in any medium, mode, means without the express written permission of the author. For permission to use, please contact the author, Mr. E. K. Torkornoo by Email: ekt2010associates@gmail.com; Or On Phone: +233-24-267-7015; OR +233-50-332-7127. This version printed on Thursday, October 23, 2014 Page 36 of 61 Section Section Name Topics / Sub Topics (Note: The topics are provided as an indicative guide to help understand the scope of the subject matter. Assessment will only be based on topics treated in class – Not on all the topics listed). H. Strategic Goals, Operational Objectives, Ideal Characteristics Of Compensation & Total Rewards – Important Distinctions 8. Strategic Goals, Operational Objectives, Ideal Characteristics Of Compensation And Total Rewards – Important Distinctions 8.1. Why The Distinctions Are Important 8.2. Strategic Goals of Compensation And Total Rewards 8.3. Operational Objectives of Compensation And Total Rewards 8.4. Ideal Characteristics of Compensation And Total Rewards 8.4.1. Corporate Strategy Alignment 8.4.2. Contribution 8.4.3. Compliance And Equity 8.4.4. Consistency: Internal 8.4.5. Currency 8.4.6. Competitiveness: External 8.4.7. Continuity & Sustainability 8.4.8. Cost-Benefit Analysis / Efficiency / ROI 8.4.9. Customization 8.4.10. Community Alignment 8.4.11. Communication Effectiveness 8.4.12. Change Management Impact 8.4.13. Other Characteristics
  37. 37. DRAFT. Table of Contents. A Manual of Compensation and Total Rewards Management By E. K. Torkornoo COPYRIGHT@2011, 2014. E. K. TORKORNOO. All Rights Reserved. This material may not be stored, reproduced, transmitted, quoted, or used in any form, format, part, or portion in any medium, mode, means without the express written permission of the author. For permission to use, please contact the author, Mr. E. K. Torkornoo by Email: ekt2010associates@gmail.com; Or On Phone: +233-24-267-7015; OR +233-50-332-7127. This version printed on Thursday, October 23, 2014 Page 37 of 61 Section Section Name Topics / Sub Topics (Note: The topics are provided as an indicative guide to help understand the scope of the subject matter. Assessment will only be based on topics treated in class – Not on all the topics listed). I. The Rewards Program – Intermediate Details: Rewards Philosophy and Rewards Strategy 9. The Rewards Program – Intermediate Details: Rewards Philosophy and Rewards Strategy 9.1. Overview of The Rewards Program Revisited 9.2. Rewards Philosophy 9.2.1. Rewards Philosophy Implications For Management Style 9.2.2. Theory X Rewards Philosophy 9.2.3. Theory Y Rewards Philosophy 9.2.4. Other Manifestations of Rewards Philosophy 9.2.5. Foresight Versus Hindsight Rewards Philosophy 9.2.6. Rewards Philosophy Statement 9.2.7. Case Studies & Exercises In Rewards Philosophy 9.3. Rewards Strategy: Revisit, Statement, 9.3.1. Cascade from Rewards Philosophy 9.3.2. Corporate – HR – Rewards Strategy Links 9.3.3. Factors Affecting Rewards Strategy 9.3.3.1. Stage of Development 9.3.3.2. Culture 9.3.3.3. Industry / Sector 9.3.3.4. Economics, Demand and Supply, Competition & Positioning 9.3.3.5. Socio-Demographic 9.3.3.6. Political 9.4. Strategy Options – Overview 9.4.1. Traditional Organizations 9.4.2. Entrepreneurial Organizations 9.5. Strategic Analysis In Rewards 9.5.1. Units of Analysis in Rewards Strategy
  38. 38. DRAFT. Table of Contents. A Manual of Compensation and Total Rewards Management By E. K. Torkornoo COPYRIGHT@2011, 2014. E. K. TORKORNOO. All Rights Reserved. This material may not be stored, reproduced, transmitted, quoted, or used in any form, format, part, or portion in any medium, mode, means without the express written permission of the author. For permission to use, please contact the author, Mr. E. K. Torkornoo by Email: ekt2010associates@gmail.com; Or On Phone: +233-24-267-7015; OR +233-50-332-7127. This version printed on Thursday, October 23, 2014 Page 38 of 61 Section Section Name Topics / Sub Topics (Note: The topics are provided as an indicative guide to help understand the scope of the subject matter. Assessment will only be based on topics treated in class – Not on all the topics listed). 9.5.2. Levels of Analysis in Rewards Strategy 9.5.3. Rewards Strategy Time Horizons 9.5.4. PEST Analysis 9.5.5. Scenario Planning 9.5.6. Five Forces Analysis 9.5.7. Market Segmentation 9.5.8. SWOT Analysis 9.5.9. Employee Segmentation 9.5.10. Employee Value Proposition 9.5.11. Differentiated Rewards 9.5.12. Rewards Strategy Statement 9.6. Case Studies & Exercises in Rewards Strategy
  39. 39. DRAFT. Table of Contents. A Manual of Compensation and Total Rewards Management By E. K. Torkornoo COPYRIGHT@2011, 2014. E. K. TORKORNOO. All Rights Reserved. This material may not be stored, reproduced, transmitted, quoted, or used in any form, format, part, or portion in any medium, mode, means without the express written permission of the author. For permission to use, please contact the author, Mr. E. K. Torkornoo by Email: ekt2010associates@gmail.com; Or On Phone: +233-24-267-7015; OR +233-50-332-7127. This version printed on Thursday, October 23, 2014 Page 39 of 61 Section Section Name Topics / Sub Topics (Note: The topics are provided as an indicative guide to help understand the scope of the subject matter. Assessment will only be based on topics treated in class – Not on all the topics listed). J. The Rewards Program – Intermediate Details: Rewards Systems 10. The Rewards Program – Intermediate Details: Rewards Systems 10.1. Definition 10.2. Overview 10.2.1.1. Job Based Reward Systems 10.2.1.2. Person-Based (Skill-based, Knowledge-Based, Competency-based,…) Reward Systems 10.2.1.3. Performance-Based Reward Systems 10.2.1.4. Hybrid Reward Systems 10.2.2. Job-Based Reward Systems 10.2.2.1. When and Why to Use Job-Based Pay Systems 10.2.2.2. Primary basis for Pricing Jobs in Job-Based Pay Systems 10.2.2.3. Methods, Moments and Madness in Job-Based Pay Systems 10.2.3. Person-Based (Skill-based, Knowledge-Based, Competency-Based …) Reward Systems 10.2.3.1. When and Why to Use Person-Based Pay 10.2.3.2. Systems 10.2.3.3. Primary basis for Pricing in Person-Based Pay Systems 10.2.3.4. Methods, Moments and Madness in Person-Based Pay Systems 10.2.4. Performance-Based Reward Systems 10.2.4.1. When and Why to Use Performance-Based Pay Systems 10.2.4.2. Primary basis for Pricing Jobs in Performance-Based Pay Systems 10.2.4.3. Methods, Moments and Madness in Performance-Based Pay Systems 10.2.5. Case Studies & Exercises in Rewards Systems
  40. 40. DRAFT. Table of Contents. A Manual of Compensation and Total Rewards Management By E. K. Torkornoo COPYRIGHT@2011, 2014. E. K. TORKORNOO. All Rights Reserved. This material may not be stored, reproduced, transmitted, quoted, or used in any form, format, part, or portion in any medium, mode, means without the express written permission of the author. For permission to use, please contact the author, Mr. E. K. Torkornoo by Email: ekt2010associates@gmail.com; Or On Phone: +233-24-267-7015; OR +233-50-332-7127. This version printed on Thursday, October 23, 2014 Page 40 of 61 Section Section Name Topics / Sub Topics (Note: The topics are provided as an indicative guide to help understand the scope of the subject matter. Assessment will only be based on topics treated in class – Not on all the topics listed). K. The Rewards Program – Intermediate Details: Special Note on Performance- Based Rewards Systems & Pay Increases 11. The Rewards Program – Intermediate Details: Special Note on Performance- Based Rewards Systems & Pay Increases 11.1. What Is Performance? Really! 11.2. A Hierarchy of Performance 11.3. When and Why to Use Performance-Based Pay Systems 11.4. Primary basis for Pricing in Performance-Based Pay Systems 11.5. Pure Performance-Based Pay Systems 11.6. Hybrid Pay Systems Emphasizing Performance-Based Pay 11.7. Examples of Performance-Based Pay Systems 11.7.1. Sales Compensation as a Model for Performance-Based Pay 11.7.2. Piece Work in Both Blue Collar and White Collar Environments 11.7.3. Individual Bonus and Incentive Systems 11.7.4. Team Group-Based Bonus and Incentive Systems 11.7.5. Some Organization-Wide Performance-Based Pay Plans 11.7.5.1.1. Profit Sharing 11.7.5.1.2. Gainsharing 11.7.6. Methods, Moments and Madness in Performance-Based Pay Systems 11.7.7. Pay Increase Processes Related to Different Pay Systems 11.7.7.1. Pay Increase in Job-Based Pay Systems 11.7.7.2. Pay Increase in Person / Skill / Knowledge-Based Pay Systems 11.7.7.3. Pay Increase in Performance-Based Pay Systems 11.7.7.4. Pay Increase in Hybrid Pay Systems
  41. 41. DRAFT. Table of Contents. A Manual of Compensation and Total Rewards Management By E. K. Torkornoo COPYRIGHT@2011, 2014. E. K. TORKORNOO. All Rights Reserved. This material may not be stored, reproduced, transmitted, quoted, or used in any form, format, part, or portion in any medium, mode, means without the express written permission of the author. For permission to use, please contact the author, Mr. E. K. Torkornoo by Email: ekt2010associates@gmail.com; Or On Phone: +233-24-267-7015; OR +233-50-332-7127. This version printed on Thursday, October 23, 2014 Page 41 of 61 Section Section Name Topics / Sub Topics (Note: The topics are provided as an indicative guide to help understand the scope of the subject matter. Assessment will only be based on topics treated in class – Not on all the topics listed). L. The Rewards Program – Intermediate Details: Rewards Mix 12. The Rewards Program – Intermediate Details: Rewards Mix 12.1. Rewards Mix (Elements, Components) 12.1.1. Rewards Mix Simplified: 12.1.1.1. Base Versus Variable 12.1.2. Other Definitions of Rewards Mix 12.2. Rewards Mix: A Strategic Approach 12.3. Rewards Mix As Behavior & Performance Drivers 12.3.1. Determinants of What Should be Included in Pay Mix 12.3.2. Pay Mix and Units of Analysis: Some Aspects 12.3.2.1. Compensation 12.3.2.1.1. Fixed Compensation 12.3.2.1.1.1. Base Pay 12.3.2.1.1.2. Basic Pay Versus Base Pay: Nomenclature and Definitions 12.3.2.1.1.3. Allowances: Fixed 12.3.2.1.1.4. Allowances: Special Purpose & Contingent Allowances 12.3.2.1.1.5. Other Cash Elements and Allowances 12.3.2.1.1.6. Guaranteed Cash 12.3.2.1.2. Variable Compensation 12.3.2.1.2.1. Short Term Incentives 12.3.2.1.2.2. Long Term Incentives 12.3.2.1.2.2.1. Cash 12.3.2.1.2.2.2. Equity / Share / Stock Compensation 12.3.2.1.2.2.3. Other 12.3.2.1.2.3. Other Variable Cash
  42. 42. DRAFT. Table of Contents. A Manual of Compensation and Total Rewards Management By E. K. Torkornoo COPYRIGHT@2011, 2014. E. K. TORKORNOO. All Rights Reserved. This material may not be stored, reproduced, transmitted, quoted, or used in any form, format, part, or portion in any medium, mode, means without the express written permission of the author. For permission to use, please contact the author, Mr. E. K. Torkornoo by Email: ekt2010associates@gmail.com; Or On Phone: +233-24-267-7015; OR +233-50-332-7127. This version printed on Thursday, October 23, 2014 Page 42 of 61 Section Section Name Topics / Sub Topics (Note: The topics are provided as an indicative guide to help understand the scope of the subject matter. Assessment will only be based on topics treated in class – Not on all the topics listed). 12.3.2.2. Employee Benefits As Valuable Rewards Mix 12.3.2.3. Work Life Balance As Valuable Rewards Mix 12.3.2.4. Development and Career Opportunities As Valuable Rewards Mix 12.3.2.5. Etc. 12.3.2.6. Developments in Rewards Mix 12.3.2.6.1. Pay Consolidation and Pay Monetization in Ghana: What, Why, Who, For Whom, When, How, So What? 12.3.3. Pay Mix in Different Type of Settings 12.3.3.1.1. By Type of Organization & Strategy 12.3.3.1.2. Traditional Organizations 12.3.3.1.3. Transitional Organizations 12.3.3.1.4. Entrepreneurial Organizations 12.3.3.1.5. By Role Level and Risk 12.3.3.1.6. Pay Mix In Sales Roles By Degree of Persuasion 12.3.3.1.7. Other Kinds of Mix
  43. 43. DRAFT. Table of Contents. A Manual of Compensation and Total Rewards Management By E. K. Torkornoo COPYRIGHT@2011, 2014. E. K. TORKORNOO. All Rights Reserved. This material may not be stored, reproduced, transmitted, quoted, or used in any form, format, part, or portion in any medium, mode, means without the express written permission of the author. For permission to use, please contact the author, Mr. E. K. Torkornoo by Email: ekt2010associates@gmail.com; Or On Phone: +233-24-267-7015; OR +233-50-332-7127. This version printed on Thursday, October 23, 2014 Page 43 of 61 Section Section Name Topics / Sub Topics (Note: The topics are provided as an indicative guide to help understand the scope of the subject matter. Assessment will only be based on topics treated in class – Not on all the topics listed). M. The Rewards Program – Intermediate Details: Rewards (Competitive) Policy Line 13. The Rewards Program – Intermediate Details: Rewards (Competitive) Policy Line 13.1. Meaning of Pay Policy 13.2. Units of Analysis and Comparison In Rewards Policy Line Decisions 13.3. Typical Units of Comparison In Rewards Policy Line Decisions 13.3.1.1. Fixed Compensation Elements 13.3.1.2. Variable Compensation Elements 13.3.1.3. Total Cash Versus Target Total Cash 13.3.1.4. Total Value versus Target Total Value 13.3.1.5. Other Units of Analysis and Comparison Rewards Policy Line Decisions 13.4. Level of Analysis In Rewards Policy Line Decisions – Choosing Comparators 13.4.1. The Game of Apples and Oranges 13.4.2. Cherry Picking Versus Real Comparisons 13.4.3. Scope, Geography, Industry, Level, Etc. 13.5. Rewards Policy Line Broad Alternatives And Rationale For Using Them 13.6. Multiple Policy Lines: Whether, When, Why And How To Use Them 13.7. Match; Lead; Lag; Lead-lag Rewards Policy Line Decisions 13.8. Rewards Surveys and Studies: The Dos And Don’ts Of Benchmarking and ‘Best Practices’ 13.9. Salary Surveys and Rewards (Competitive) Policy Line 13.9.1. Choosing Surveys 13.9.2. Choosing Comparators 13.9.3. Choosing Variables 13.9.4. Choosing Statistical Measures 13.9.5. Showing How You Compare 13.9.6. Showing Where You Want To Be For Target Employees 13.9.7. Other Policy Line Decisions in Using Surveys 13.9.8. Cases & Exercises in Rewards (Competitive) Policy Line
  44. 44. DRAFT. Table of Contents. A Manual of Compensation and Total Rewards Management By E. K. Torkornoo COPYRIGHT@2011, 2014. E. K. TORKORNOO. All Rights Reserved. This material may not be stored, reproduced, transmitted, quoted, or used in any form, format, part, or portion in any medium, mode, means without the express written permission of the author. For permission to use, please contact the author, Mr. E. K. Torkornoo by Email: ekt2010associates@gmail.com; Or On Phone: +233-24-267-7015; OR +233-50-332-7127. This version printed on Thursday, October 23, 2014 Page 44 of 61 Section Section Name Topics / Sub Topics (Note: The topics are provided as an indicative guide to help understand the scope of the subject matter. Assessment will only be based on topics treated in class – Not on all the topics listed). N. The Rewards Program – Intermediate Details: Rewards Structure 14. Rewards Structure 14.1. Rewards Structure Versus Pay Structure: Is There A Difference? 14.2. Use and Misuse Of The ‘Structure’ in Rewards 14.3. Overview of Goals, Uses, and Nature of Rewards Structure 14.4. Rewards Structure and Employee Behavior 14.5. Rewards Structure Versus Pay System: Which Drives Which? 14.6. Rewards Structure, Pay Structure, Pay Ladders, Pay Spines as Hierarchies of The Value of Jobs and Work 14.7. Methods for Determining The Value of Jobs and Work 14.7.1.1. Traditional Job Evaluation – Overview 14.7.1.1.1. Types of Job Evaluation 14.7.1.1.2. Compensable Factors 14.7.1.1.3. Distinctions: Position, Job, Job Class, Job Class Series, Job Family 14.7.1.1.4. Job Analysis: Scope, Focus, Processes, Data Collection 14.7.1.1.5. Job Descriptions: Dimensions and Elements 14.7.1.1.6. Using Job Evaluation Systems & Instruments 14.7.1.1.7. Comparisons – Job Hierarchies 14.7.1.1.8. Job Grades / Bands 14.7.1.1.9. Constructing the Pay Structure 14.7.1.1.10. Key Data Elements of Pay Structure 14.7.1.1.10.1. Pay Range: Minimum, Maximum, 14.7.1.1.10.2. Range Spread: Significance And Uses 14.7.1.1.10.3. Range Penetration 14.7.1.1.10.4. Pay To Max: A New Measure 14.7.1.1.10.5. Mid Point: Significance And Uses 14.7.1.1.10.6. Mid Point Progression: : Significance And Uses
  45. 45. DRAFT. Table of Contents. A Manual of Compensation and Total Rewards Management By E. K. Torkornoo COPYRIGHT@2011, 2014. E. K. TORKORNOO. All Rights Reserved. This material may not be stored, reproduced, transmitted, quoted, or used in any form, format, part, or portion in any medium, mode, means without the express written permission of the author. For permission to use, please contact the author, Mr. E. K. Torkornoo by Email: ekt2010associates@gmail.com; Or On Phone: +233-24-267-7015; OR +233-50-332-7127. This version printed on Thursday, October 23, 2014 Page 45 of 61 Section Section Name Topics / Sub Topics (Note: The topics are provided as an indicative guide to help understand the scope of the subject matter. Assessment will only be based on topics treated in class – Not on all the topics listed). 14.7.1.1.10.7. Compa-ratio: : Significance And Uses 14.7.1.1.10.8. Other Element of Pay Structure 14.7.1.2. Market-Referenced Job Pricing (Market Pricing) – Overview 14.7.1.2.1. Before You Look at Surveys: Decisions, Decisions, Decision 14.7.1.2.1.1. Job Families to Cover in Market Pricing 14.7.1.2.1.2. Selecting Benchmark Jobs for Market Pricing 14.7.1.2.1.3. Verifying Job Descriptions for Market Pricing 14.7.1.2.2. Market Surveys Sources and Challenges 14.7.1.2.2.1. Sources of Surveys 14.7.1.2.2.2. Number of Survey Sources required for Reliability 14.7.1.2.2.3. Survey Quality Indicators 14.7.1.2.3. Matching Your Jobs to Those in the Survey 14.7.1.2.3.1. Content, Level and Scope Dimensions 14.7.1.2.3.2. Data Dimensions 14.7.1.2.3.2.1. Number of companies reporting 14.7.1.2.3.2.2. Number of Survey Jobs per Benchmark Job 14.7.1.2.3.2.3. Data Elements / Variables In Use 14.7.1.2.3.2.4. Quality of Data 14.7.1.2.3.2.5. Data Cuts (Industry, Scope, etc.) 14.7.1.2.3.3. Adjusting The Data: Techniques For Fine-Tuning 14.7.1.2.3.3.1. Aging the Data 14.7.1.2.3.3.2. Geographic Adjustments 14.7.1.2.3.3.3. Adjusting for Composite (Multiple survey sources) 14.7.1.2.3.3.3.1. Average Versus Weighted Average 14.7.1.2.4. Market Pricing in a World without regular, reliable, third-party surveys: 14.7.1.2.4.1. The Pros And Cons Of Calling Around 14.7.1.2.4.2. The Pros And Cons Of Using “Club Data”
  46. 46. DRAFT. Table of Contents. A Manual of Compensation and Total Rewards Management By E. K. Torkornoo COPYRIGHT@2011, 2014. E. K. TORKORNOO. All Rights Reserved. This material may not be stored, reproduced, transmitted, quoted, or used in any form, format, part, or portion in any medium, mode, means without the express written permission of the author. For permission to use, please contact the author, Mr. E. K. Torkornoo by Email: ekt2010associates@gmail.com; Or On Phone: +233-24-267-7015; OR +233-50-332-7127. This version printed on Thursday, October 23, 2014 Page 46 of 61 Section Section Name Topics / Sub Topics (Note: The topics are provided as an indicative guide to help understand the scope of the subject matter. Assessment will only be based on topics treated in class – Not on all the topics listed). 14.7.1.2.4.3. Data Elements available 14.7.1.2.4.4. Pros and Cons of Data Available 14.7.1.2.4.5. Consulting Firms And Providers of Market Surveys 14.7.2. Pay Structure Issues 14.7.2.1. Single Spine Versus Multiple Spine in Pay Structure 14.7.2.2. Organization Culture and Fit / Misfit of Pay Structure 14.7.2.3. Restriction of Range 14.7.2.4. Pay Compression 14.7.2.5. Managing the Basis for Progression through The Range 14.7.2.6. Overemphasis on Base Pay 14.7.2.7. Managing / Mismanaging Control Points 14.7.2.8. Other Issues 14.7.3. The Limits of Pay Structure Versus Total Rewards Structure: Frontiers Of Practice 14.7.4. Cases & Exercises in Rewards Structure 14.7.4.1. A Tower of Babel Creates Rocky Marriage to The Single Spine Pay Policy In Ghana 14.7.4.2. Other Cases And Exercises
  47. 47. DRAFT. Table of Contents. A Manual of Compensation and Total Rewards Management By E. K. Torkornoo COPYRIGHT@2011, 2014. E. K. TORKORNOO. All Rights Reserved. This material may not be stored, reproduced, transmitted, quoted, or used in any form, format, part, or portion in any medium, mode, means without the express written permission of the author. For permission to use, please contact the author, Mr. E. K. Torkornoo by Email: ekt2010associates@gmail.com; Or On Phone: +233-24-267-7015; OR +233-50-332-7127. This version printed on Thursday, October 23, 2014 Page 47 of 61 Section Section Name Topics / Sub Topics (Note: The topics are provided as an indicative guide to help understand the scope of the subject matter. Assessment will only be based on topics treated in class – Not on all the topics listed). O. The Rewards Program – Intermediate Details: Rewards Structure, Salary Surveys, Rewards Studies Etc. 15. The Rewards Program – Intermediate Details: Rewards Structure, Salary Surveys, And Rewards Studies 15.1. Range of Salary Surveys, Rewards Studies, Etc. 15.1.1. Salary Surveys: A Survey of Surveys 15.1.1.1. Salary Budget Surveys 15.1.1.2. Industry Surveys 15.1.1.3. Occupational Surveys 15.1.1.4. General Industry Surveys 15.1.1.5. Regional / Geographical Surveys 15.1.1.6. Geographical Differentials Surveys 15.1.1.7. Other Surveys 15.1.2. Rewards Studies 15.1.2.1. Why Rewards Studies 15.1.2.2. Providers of Rewards Studies 15.1.2.3. Scope of Rewards Studies 15.1.2.4. Cases And Examples of Rewards Studies 15.2. Participating In Salary Surveys (Versus Simply Using Off-The- Shelf Surveys) 15.2.1. A Common Problem: Reservations About Sharing Sensitive Salary Information 15.2.2. Effect Of Reservations About Sharing Sensitive Salary Information 15.2.3. A Common Solution: Third Party Surveys by Reputable Survey Service Providers 15.2.4. Why Participate In Salary Surveys 15.2.5. Pre-requisites for Participation: Internal Resources 15.2.6. Rules of Participation: Confidentiality, Plus More 15.2.7. Purpose and Timing of Salary Surveys 15.2.8. Selecting Your Salary Surveys 15.2.8.1. Is One Survey Enough? 15.2.8.2. A Strategic Portfolio Approach To Salary Surveys
  48. 48. DRAFT. Table of Contents. A Manual of Compensation and Total Rewards Management By E. K. Torkornoo COPYRIGHT@2011, 2014. E. K. TORKORNOO. All Rights Reserved. This material may not be stored, reproduced, transmitted, quoted, or used in any form, format, part, or portion in any medium, mode, means without the express written permission of the author. For permission to use, please contact the author, Mr. E. K. Torkornoo by Email: ekt2010associates@gmail.com; Or On Phone: +233-24-267-7015; OR +233-50-332-7127. This version printed on Thursday, October 23, 2014 Page 48 of 61 Section Section Name Topics / Sub Topics (Note: The topics are provided as an indicative guide to help understand the scope of the subject matter. Assessment will only be based on topics treated in class – Not on all the topics listed). 15.2.9. Getting Your Data Ready 15.2.9.1. Job Documentation: Job Descriptions 15.2.9.2. Benchmark Jobs: Meaning And Significance 15.2.9.3. Matching Jobs To Market Benchmark Jobs; Major Activity 15.2.10. Completing Questionnaires: Salary and Other Rewards Data 15.2.11. Completing Questionnaires: Rewards Practices 15.2.12. Submitting Questionnaires 15.2.13. Answering Follow-Up Questions 15.2.14. What Happens Behind The Scenes: Compiling, Analyzing, Developing Salary Survey Reports and Access to Databases 15.2.15. Acquiring / Purchasing Survey Results When You Participated 15.2.15.1. Sponsored Surveys: 15.2.15.2. Non-Sponsored Surveys 15.2.15.3. Hard Copy Survey Reports 15.2.15.4. Soft-Copy Survey Reports 15.2.15.5. Access To Survey Databases 15.2.16. Using Survey Data: Selected Decisions and Activities 15.2.16.1.1.1. Deciding What You Want And Why: Begin With The End In Mind 15.2.16.2. Selecting Scope, Slices, Or Cuts of Data In Salary Surveys 15.2.16.3. Selecting Comparators 15.2.16.4. Choosing Data Variables (Units of Analysis and Comparison) 15.2.16.5. Understanding Measures of Dispersion and Central Tendency 15.2.16.5.1. The Median Versus The Mean 15.2.16.6. Using Quartiles and Percentiles 15.2.16.7. Determining Salary Movements in the Market 15.2.16.8. Other Analytical Considerations 15.2.16.9. Developing Internal Reports And Proposals For Change To Management
  49. 49. DRAFT. Table of Contents. A Manual of Compensation and Total Rewards Management By E. K. Torkornoo COPYRIGHT@2011, 2014. E. K. TORKORNOO. All Rights Reserved. This material may not be stored, reproduced, transmitted, quoted, or used in any form, format, part, or portion in any medium, mode, means without the express written permission of the author. For permission to use, please contact the author, Mr. E. K. Torkornoo by Email: ekt2010associates@gmail.com; Or On Phone: +233-24-267-7015; OR +233-50-332-7127. This version printed on Thursday, October 23, 2014 Page 49 of 61 Section Section Name Topics / Sub Topics (Note: The topics are provided as an indicative guide to help understand the scope of the subject matter. Assessment will only be based on topics treated in class – Not on all the topics listed). 15.2.16.9.1. Outline of Internal Reports And Proposals For Change 15.2.16.9.2. Links to Organization’s Vision, Mission, Strategy 15.2.16.9.3. Where We Stand 15.2.16.9.4. Incorporating Other Rewards Studies In Decision-Making 15.2.16.9.5. What We Need To Change And Why: Making The Business Case For Change 15.2.16.9.6. Costing The Alternative Positions in the light of Market Movements 15.2.16.9.7. Pro-Forma Implementation Plans 15.2.16.9.8. Projecting Desired Outcomes To Be Monitored: A Much Under-served Task 15.2.16.9.9. Managing Presentations To Management 15.2.16.9.10. Managing Presentations To Boards 15.2.16.9.11. Developing Implementation Plans 15.2.16.9.12. Resource Requirements Within The Compensation And Rewards Function of Human Resource Departments
  50. 50. DRAFT. Table of Contents. A Manual of Compensation and Total Rewards Management By E. K. Torkornoo COPYRIGHT@2011, 2014. E. K. TORKORNOO. All Rights Reserved. This material may not be stored, reproduced, transmitted, quoted, or used in any form, format, part, or portion in any medium, mode, means without the express written permission of the author. For permission to use, please contact the author, Mr. E. K. Torkornoo by Email: ekt2010associates@gmail.com; Or On Phone: +233-24-267-7015; OR +233-50-332-7127. This version printed on Thursday, October 23, 2014 Page 50 of 61 Section Section Name Topics / Sub Topics (Note: The topics are provided as an indicative guide to help understand the scope of the subject matter. Assessment will only be based on topics treated in class – Not on all the topics listed). P. The Rewards Program – Intermediate Details: Rewards Program Implementation / Administration 16. The Rewards Program – Intermediate Details: Rewards Program Implementation / Administration 16.1. Required Resources for The Implementation Of The Rewards Program 16.1.1. Budgets: Capital and Operating Budgets For The Implementation Of The Rewards Program 16.1.2. Organizational Unit & Organization Structure For Rewards Management 16.1.3. Technical Staff For Rewards Management 16.1.4. Technology Systems / Platforms 16.1.5. Specialized Software & Licenses Beyond Typical ERP 16.1.6. Surveys, Studies, Subscriptions, and Sources of Data 16.1.7. Professional Associations: Membership, Resources, Activities 16.1.8. Professional Development: Conferences, Seminars & Workshops 16.1.9. Consultancy Support Projects 16.1.10. Outsourced Rewards Implementation Operations 16.2. Alliances & Partnerships For The Implementation Of The Rewards Program 16.2.1. Internal Alliances & Partnerships: 16.2.2. External Alliances & Partnerships – Outsourced Services 16.2.3. Unions & Staff Associations And Their Roles in The Implementation Of The Rewards Program 16.3. Additional Tools For Rewards Program Implementation: 16.3.1. Policy and Procedures Documentation 16.3.2. User Manuals For Supervisors 16.3.3. Employee Manuals 16.3.4. Orientation, Learning & Development (Training Programs) Programs 16.3.5. Rewards Communications (Details Elsewhere In This Outline 16.4. Using Testing & Quizzes To Reinforce Mastery & Currency of Knowledge Of Rewards Programs, Policy & Procedures 16.5. A Special Note on Emerging Technology For The Implementation Of The Rewards Program 16.6. A Special Note on Rewards Surveys, Studies, Subscriptions, and Other Sources of Data
  51. 51. DRAFT. Table of Contents. A Manual of Compensation and Total Rewards Management By E. K. Torkornoo COPYRIGHT@2011, 2014. E. K. TORKORNOO. All Rights Reserved. This material may not be stored, reproduced, transmitted, quoted, or used in any form, format, part, or portion in any medium, mode, means without the express written permission of the author. For permission to use, please contact the author, Mr. E. K. Torkornoo by Email: ekt2010associates@gmail.com; Or On Phone: +233-24-267-7015; OR +233-50-332-7127. This version printed on Thursday, October 23, 2014 Page 51 of 61 Section Section Name Topics / Sub Topics (Note: The topics are provided as an indicative guide to help understand the scope of the subject matter. Assessment will only be based on topics treated in class – Not on all the topics listed). Q. The Rewards Program – Intermediate Details: Rewards Program Implementation / Administration – Focus on Rewards Communications 17. The Rewards Program – Intermediate Details: Rewards Program Implementation / Administration – Focus on Rewards Communications 17.1. Importance of Rewards Communications 17.2. The Complex Environment Of Rewards Communications: Opportunities, Issues, Technology, Social / Demographic, Cultural, Etc. 17.3. A Total Rewards Approach To Rewards Communications 17.4. The Strategic Communications Process – Overview 17.5. Annual Calendar in The Implementation Of The Rewards Program 17.6. Special Events in The Implementation Of The Rewards Program 17.7. Cases & Exercises in Rewards Communication

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