talent and reward academy - willis towers watson talent and reward academy is ... developing a...

Talent and Reward Academy Drive growth and performance in your organisation

with our 2013 programme

Contents

Introduction 4

General programmes

Reward management training 6

Talent management training 8

Specialist programmes

Sales effectiveness and rewards 10

Reward leadership programme 12

Bespoke in-company training 16

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To successfully achieve this, HR departments need to ensure that they have the right skills and experience in place to deliver effective people programmes.

A critical component of this is being able to understand the respective roles of talent and reward management programmes within a strategic HR framework, and how these can be integrated to deliver the people strategy.

The Talent and Reward Academy is Towers Watson’s institute for knowledge development and transfer, which focuses the many years of theoretical and practical experience of our consultants in educational and training courses. Towers Watson’s Talent and Reward Academy takes the key pillars of talent and reward and presents each workshop within the context of an integrated reward and talent management framework.

Each workshop will enable attendees to gain a blend of practical experience and essential theory, delivered by experienced practitioners – both from within Towers Watson and from the wider industry. This, combined with opportunities to network with peers in practical group exercises, will provide detailed and current insights into the areas of specialism that are of interest to your organisation.

The workshops are delivered through a proven formula that combines fundamental principles with practical tools and techniques, drawing extensively on real-life case studies. The workshops provide participants with the opportunity to share experiences, ensuring delegates return to their organisations better equipped to meet today’s challenges.

Introduction

Talent and Reward Academy

HR and Reward functions are being challenged to take an increasingly strategic role in helping their businesses navigate through ongoing economic uncertainty by ensuring that costs are managed and that maximum return on investment is delivered.

Talent and Reward Academy 5

“HR departments need to ensure that they have the right skills and experience in place to deliver effective people programmes.”

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Reward management training

IntroductionTowers Watson’s research consistently finds that organisations with reward and talent management programmes that support their business goals are more likely to be high performing.

Just as a business cannot stand still, neither can a rewards model. An effective Total Rewards programme aligns with business strategy and gives shape to the broader employee value proposition (EVP), which defines the ‘give and get’ between employer and employee.

What does this programme cover?

This two-day course provides a thorough overview of all aspects of reward management, grounded in the development and practical application of reward strategy. The material focuses on the range of tools and techniques available to reward professionals, with a focus on those approaches that are most effective in today’s business agenda.

Who should attend?

• Junior to mid-level compensation and benefits specialists.

• Compensation and benefits managers who are looking to refresh their knowledge on the subject and to learn about recent developments.

• HR generalists who are new to or who are looking to improve their awareness and understanding of compensation and benefits.

General programmes

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Agenda

Day one Introduction

• Workshop objectives and agenda for both days

• Reward defi ned • Reward as a strategic tool

Developing a reward strategy

• Linking reward to business strategy • Developing key principles • Making a business case • Reward strategy group exercise

Determining internal equity

• The role and importance of job evaluation • Determining the relative worth of jobs • Job evaluation exercise

Determining your market position

• Defi ning ‘the market’ • Need to pay versus capacity to pay • What to compare – base pay, total cash, total compensation

• Sourcing and interpreting market data • Trends in UK reward • Group exercise

Review of day one

Day two Learning points from day one

Developing a salary structure

• Reconciling internal equity and the market • Types of salary structures • Issues to consider • Group exercises

Rewarding individual and group performance

• Understanding the current issues • Design criteria for performance-related pay • Performance-related pay approaches • Non-cash rewards • Group exercise – developing a scheme

Hot topics

• To be discussed and agreed with participants prior to the session

Client case study: implementing reward

• Business challenges faced • Reward development to implementation • Refi nement of actions • Learning points • What next?

How technology can facilitate reward management

• The role of technology in reward management • Building the business case for technology investment

Workshop review and questions

Dates and times

1 – 2 May 2013, 9.00am – 5.00pm23 – 24 October 2013, 9.00am – 5.00pm

Location

Towers Watson, 71 High Holborn, London, WC1V 6TP

Course fees

£1,425 inclusive of materials and lunch

What should I do now?

To book a place on this programme, please register online at towerswatson.com/tracademy

“The course was professionally run. The host was very knowledgeable on the subjects covered and was able to relate all topics to real life examples.” Unilever

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General programmes

IntroductionStudies both before and during the economic uncertainty of the past few years have all pointed towards the greater positive impact of talent management programmes that are aligned to other areas of HR. Exploring this further, our own research found that organisations are most likely to see positive outcomes from talent management models that focus on integration, segmentation and agility.

What does this programme cover?

A thorough overview of talent management grounded in the practical application of talent management strategies. The material focuses on three of the most topical aspects of talent management in today’s business environment: competency architecture, career management and performance management.

Who should attend?

• Talent management specialists and managers who are looking to expand their knowledge on the subject and to learn about recent developments.

• HR professionals and generalists new to talent management and seeking to develop a broad understanding of the key issues involved in talent management.

AgendaIntroduction

• Workshop objectives and agenda • Talent management defined

Developing a talent management strategy

• Linking talent to business strategy • Integrating talent and reward • Developing key principles

Building a competency architecture

• The role and value of competency frameworks

• Refreshing existing competency frameworks • Group exercise

Managing performance and development

• Delivering effective performance management

• Building a career management framework • Developing a sound approach to succession management and workforce planning

Emerging trends

• Recent research and implications • HR technology


Talent management training


Date and time

6 June 2013, 9.00am – 5.00pm

Location


Course fees

£950 inclusive of materials and lunch



“In-group discussions opened up topics and brought theory to life.” Siemens

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IntroductionWhat does this programme cover?

Various studies show that 70% to 80% of organisations review their sales incentive plans annually. The frequent reviews aim to reflect the continuous change and evolution of the sales strategy – what do we want to sell, to whom and how?

With this in mind, this one-day programme will start by providing an overview of the strategic context of sales. Discussions will be held about the different distribution models and the impact of these models on sales roles and sales compensation plans.

The workshop will then concentrate on a robust methodology for assessing the effectiveness of sales plans, identifying the opportunities for improvement, redesigning the plans and successfully implementing them.

Participants will be introduced to analytical tools such as pay-for-performance analysis, total cash benchmarking and performance to quota analysis in order to examine the behaviour created by existing plans. They will also work through the core plan design parameters that establish the alignment between sales incentive plans with the sales strategy. A case study will be introduced and used during the day to practise the tools and techniques provided.

Who should attend?

• Experienced compensation and benefits or HR specialists in charge of reviewing/designing sales compensation plans.

• Sales effectiveness or sales operations managers in charge of reviewing/designing sales compensation plans.

• Sales or finance directors who have traditionally designed sales incentive plans, but are interested in adopting a robust methodology to improve internal processes.

Sales effectiveness and rewards

AgendaIntroduction

• Workshop objectives and agenda • Sales forces – what is so special about them?

• Introduction to sales compensation – key terms, concepts and trends

Elements of a sales compensation programme

• Eligibility • Target compensation • Mix and leverage • Measures/weighting • Measurement period • Payment frequency • Formula and credits

Sales plan design key phases

• Situation assessment – stakeholder/field views, pay data analysis, quota process, sales strategy and process, sales roles

• Solution design – eligibility, mix, upside, measures, financial impact

• Implementation – communication, training, administration systems, roll-out events

Bringing it together

• Real life case studies • Group exercise



Sales effectiveness and rewards

Date and time

13 June 2013, 9.00am – 5.00pm

Location


Course fees

£950 inclusive of materials and lunch



“Very informative and relevant.” Hays

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Reward �eadership programme

A Remuneration Group and Towers Watson programme focused on senior management and executive compensation.

“Very useful session, nice to gain confi dence in applying judgements and a pragmatic approach that is aligned to business direction.” BAE Systems


IntroductionThe aim of the programme is to support the development of reward specialists or HR generalists in the area of senior management and executive compensation by providing relevant technical training, sharing senior practitioners’ experience and insights and setting both in the context of wider research and discussion. The programme also supports the development of attendees’ own personal networks.

Who should attend?

• Reward or compensation managers who already have some experience in senior management and executive remuneration

• Heads of reward who would like to strengthen their executive compensation knowledge

AgendaThe programme comprises nine three-hour sessions. Each session is hosted by a group reward director (and Remuneration Group member) from a leading FTSE company who co-presents with one or two senior Towers Watson consultants.

Each session will comprise:

• 1-2 hours pre-read • Core case study and discussion (led by the sponsor) with complementary technical content (led by Towers Watson)

• Further technical information in handouts

Dates and location

From May to October 2013


8.30am – 12.00pm (including breakfast)

What do I do now?


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2�� programme Session 1: Why is executive compensation different?Tuesday 14 May • What is different and why is it different?

• Background to current structure and levels

• Underlying theories (for example, agency theory) and research

• What does all this mean in terms of managing executive pay internally and externally?

• Current debates (for example, performance versus simplicity; external market versus internal relativities)

Facilitators: Derek Steptoe – Worldwide Compensation and Benefi ts Director, WPPKatharine Turner – Towers WatsonAlasdair Wood – Towers Watson

Session 2: Internal and external governance Tuesday 21 May • Dynamics of working with the Remuneration Committee

• Effective Remuneration Committee processes • Historical context to UK governance framework • Current UK governance framework and recent developments including BIS reforms

• Communicating with shareholders • Managing disclosure with changing requirements

Facilitators: Leigh Harrison – Group Reward and Pensions Director, RSATamsin Sridhara – Towers WatsonRichard Latham – Towers Watson

Session 3: Managing fi xed pay Tuesday 4 June • The executive pay model • How the management of executive base pay is different

• The new ‘lenses’ being applied to executive pay and analysis required

• Using market data in an executive context • Executive pensions – introduction and trends

Facilitators: John Beadle – Global Practice Leader, Total Rewards, Rio TintoDan Perrett – Towers Watson Mario Yiannopoulos – Towers WatsonDavid Bird – Towers Watson

Session 4: Short-term incentive design Wednesday 26 June • Structure of arrangements • Choice of performance measures • Calibration setting and target setting • Institutional investor views • Market trends • Managing disclosure

Facilitators: Harriet Kemp – Director of Group Reward, Compass GroupTim Wray – Group Head of Reward, WolseleyGary Luck – Towers Watson Richard Belfi eld – Towers Watson

Session 5: Long-term incentive design (LTI) Wednesday 3 July • Structure of plans • Choice of performance measures • Calibration setting and target setting • LTI valuation and accounting treatment • Institutional investor views • Market trends

Facilitators: Sally Moore – Performance andReward Director, DiageoAdrian Jackson – Group Reward and Policy Director, VodafoneRichard Belfi eld – Towers Watson John Reed – Towers Watson

Session 6: Tax, accounting and valuation Tuesday 16 July • Taxation of executive arrangements including UK pension tax

• Overview of IFRS accounting for remuneration-related expenses with a focus on equity-based awards

• Introduction to valuation of incentive awards – covering accounting fair value, economic expected value and perceived values

Facilitators: Roger Fairhead – Group Head of Compensation and Benefi ts, SAB MillerDamian Carnell – Towers Watson Alasdair Wood – Towers Watson



Session 7: Executive recruitment and termination: transaction rewards Tuesday 17 September Recruitment and termination

• Dynamics of executive recruitment • Managing ongoing contractual liabilities • Legal framework and dynamics of executive termination

Transaction rewards

• Due diligence • Retention • ‘First hundred days’ for reward director • Integration of acquisitions

Facilitators: Paul Farley – HR Director, Reward, BAEJohn Pymm – Towers Watson Heather Marshall – Towers Watson

Session 8: Managing international rewardTuesday 1 October • Developing a global reward framework • Managing pay for a global executive cadre • Share plans with international participation • Developing a global governance framework • Integrating management of risk into reward • Addressing globally mobile employees (Note: this session is not primarily about expatriate pay)

Facilitators: Ian Franklin – Vice President, Executive Remuneration and Expatriate Policy, ShellAndrew Curcio – Towers Watson Jeremy Hill – Towers WatsonKatie Johnston – Towers Watson

Session 9: Current trends and topical issues Tuesday 15 October • Pay trends for 2013 • Looking ahead to 2014 • Other issues not covered in the programme that attendees would like covered (this fi nal session is designed to pick up trends/topical/technical areas not already covered)

Facilitators: Don Cuthbert – Group Head, Compensation and Benefi ts, Imperial TobaccoKatharine Turner – Towers WatsonAlasdair Wood – Towers Watson

“Really good level of debate which helped learning and understanding of key issues.” Marks and Spencer

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We compile bespoke training packages that are unique to your organisation. All training courses can be tailored to meet your own business requirements and company culture.If you would like to discuss tailoring an HR training course to yourself or your department, or would like additional information on any of these programmes, please email towerswatson.com/tracademy

Training requirements vary greatly between organisations. For this reason the content and focus of reward training workshops can be tailored to specific issues and skills gaps for specific organisations. This will help ensure that the time and investment is maximised, and can often prove cost effective for large groups. The tailored nature of this approach also involves being flexible on the location of delivery.

Bespoke in-company training

Talent and Reward Academy


“Very informative and enjoyable.” Lloyds Register

“The group sessions were an excellent opportunity to put the learning into practice and discuss with our other colleagues.” BBC

“Good mixture of in-house and consultancy experience, hence, more credible.” Compass Group

“Very good presenter backed up with excellent clear materials.” DSGi

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Towers Watson offers integrated solutions that cover:

Communication and change managementWe combine expertise in change management, organisational effectiveness and communication to drive employee engagement and help align behaviour with business results.

HR function effectivenessWe help accelerate your transition to a high-performance HR function – one that adds measurable value to both the top and bottom line.

Data servicesYour global centre of excellence for compensation, benefits and employment practices information.

Mergers and acquisitionsWe help you identify the issues, assets, liabilities, risks and opportunities surrounding culture, change management, communication, compensation and benefits during a merger or acquisition.

Employee surveysWe design and administer employee surveys, and apply benchmark data and advanced analytics, to develop practical insights about improving employee engagement, shaping a high-performance culture and achieving optimal return on talent investments.

RewardsWe provide the data, tools, strategy, design and execution support essential to ensure your pay and other reward programmes are cost effective and deliver the behaviour and performance you need.

Executive compensationOur global expertise and experience, coupled with our proprietary data and leading-edge analytical tools, can help you make sound decisions about how and how much to pay your senior executives.

Sales effectiveness and rewardsWe collaborate with you to drive profitable growth – designing incentive plans, increasing productivity and identifying traits of top sales performers.

HR and talent management technologyWe deliver a truly integrated talent management approach: best-in-class technology combined with proven talent management strategy and design.

Talent management and organisation alignmentWe help you develop integrated programmes and processes to engage and develop leaders and employees, and align their behaviours with the critical drivers of business performance for your organisation.


Further information

For further information, please contact

Clare Adams +44 1737 284940 [email protected]

Towers Watson71 High HolbornLondonWC1V 6TP

Towers Watson is represented in the UK by Towers Watson Limited and Towers Watson Capital Markets Limited.

The information in this publication is of general interest and guidance. Action should not be taken on the basis of any article without seeking specific advice.

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Copyright © 2013 Towers Watson. All rights reserved.TW-EU-2012-28373a. January 2013.

towerswatson.com

About Towers WatsonTowers Watson is a leading global professional services company that helps organisations improve performance through effective people, risk and financial management. With 14,000 associates around the world, we offer solutions in the areas of employee benefits, talent management, rewards, and risk and capital management.

talent and reward academy - willis towers watson talent and reward academy is ... developing a...

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