{"id":8524,"date":"2022-10-13T15:05:24","date_gmt":"2022-10-13T12:05:24","guid":{"rendered":"https:\/\/hcc.icappeoplesolutions.com\/our-solutions\/certifications-skill-development\/total-rewards-management-certification-2\/"},"modified":"2023-03-23T16:34:26","modified_gmt":"2023-03-23T13:34:26","slug":"variable-pay-improving-performance-with-variable-pay","status":"publish","type":"page","link":"https:\/\/hcc.icappeoplesolutions.com\/en\/our-solutions\/certifications-skill-development\/variable-pay-improving-performance-with-variable-pay\/","title":{"rendered":"Variable Pay \u2014 Improving Performance with Variable Pay"},"content":{"rendered":"<table>\n<tbody>\n<tr>\n<td><strong>What You Will Learn <\/strong><\/p>\n<ul>\n<li>Learn common business strategies and objectives for achieving them.<\/li>\n<li>See how to align variable pay programs with business strategy.<\/li>\n<li>Learn the three categories of variable pay: incentive plans, bonus plans, and recognition plans.<\/li>\n<li>Discover internal and external factors that affect variable pay plans.<\/li>\n<li>See the steps for designing variable pay compensation strategy, including funding and distributing plan earnings.<\/li>\n<li>Learn to implement, communicate, and evaluate variable pay compensation and benefits plans.<\/li>\n<\/ul>\n<\/td>\n<td colspan=\"2\"><strong>Who Will Benefit from This Course?<\/strong><\/p>\n<p>This course is ideal for the HR professional responsible for designing, assessing, and maintaining variable pay plans.<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\"><strong>Course Synopsis<\/strong><\/p>\n<p>Learn how to spur your employees to perform at the highest levels, boost organizational profitability and retain talented individuals through well-designed variable pay programs. This course will give you the knowledge and skills to design, implement, and evaluate successful variable pay plans.<\/p>\n<p>Also known as pay-for-performance, variable pay programs incentivize employees to reach specific goals &#8211; such as boosting revenue and acquiring new skills. Successfully deploying variable pay is vital for today\u2019s compensation and HR professionals.<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\"><strong>Course Topics<\/strong><\/td>\n<\/tr>\n<tr>\n<td><strong>Supporting Business Objectives\u00a0<\/strong><strong>through Variable Pay<\/strong><\/p>\n<ul>\n<li>Elements of compensation<\/li>\n<li>Business strategy<\/li>\n<li>Business strategy drives business objectives<\/li>\n<li>Business lifecycle<\/li>\n<li>Variable pay helps achieve business objectives<\/li>\n<\/ul>\n<\/td>\n<td><strong>Types of Variable Pay<\/strong><\/p>\n<ul>\n<li>Incentive plans<\/li>\n<li>Bonus plans<\/li>\n<li>Recognition plans<\/li>\n<\/ul>\n<p><strong>Developing a Variable Pay Plan \u2014 <\/strong><\/p>\n<p><strong>Phases 1 and 2<\/strong><\/p>\n<ul>\n<li>Phase 1: Pre-design<\/li>\n<li>Phase 2: Design<\/li>\n<\/ul>\n<p><strong>Developing a Variable Pay Plan \u2014 <\/strong><\/p>\n<p><strong>Phase 3<\/strong><\/p>\n<ul>\n<li>Phase 3: Funding and distribution<\/li>\n<\/ul>\n<\/td>\n<td><strong>Implementation and Evaluation<\/strong><\/p>\n<ul>\n<li>Plan implementation<\/li>\n<li>Developing the communication plan<\/li>\n<li>Coordinating plan administration<\/li>\n<li>Plan Evaluation<\/li>\n<li>Determining plan effectiveness<\/li>\n<li>Why plans fail<\/li>\n<li>Potential evaluation outcomes<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>What You Will Learn Learn common business strategies and objectives for achieving them. See how to align variable pay programs with business strategy. Learn the three categories of variable pay: incentive plans, bonus plans, and recognition plans. Discover internal and external factors that affect variable&#8230;<\/p>\n","protected":false},"author":7,"featured_media":0,"parent":7768,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"_links":{"self":[{"href":"https:\/\/hcc.icappeoplesolutions.com\/en\/wp-json\/wp\/v2\/pages\/8524"}],"collection":[{"href":"https:\/\/hcc.icappeoplesolutions.com\/en\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/hcc.icappeoplesolutions.com\/en\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/hcc.icappeoplesolutions.com\/en\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/hcc.icappeoplesolutions.com\/en\/wp-json\/wp\/v2\/comments?post=8524"}],"version-history":[{"count":0,"href":"https:\/\/hcc.icappeoplesolutions.com\/en\/wp-json\/wp\/v2\/pages\/8524\/revisions"}],"up":[{"embeddable":true,"href":"https:\/\/hcc.icappeoplesolutions.com\/en\/wp-json\/wp\/v2\/pages\/7768"}],"wp:attachment":[{"href":"https:\/\/hcc.icappeoplesolutions.com\/en\/wp-json\/wp\/v2\/media?parent=8524"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}