Minimum Reward Standards
In 2008 members of SARA formed a number of workgroups and compiled the Generally Accepted Reward Practice (GARP) modules for the reward profession. This was originally done with the intention of providing some basic governance principles and minimum standards for SA reward professionals in the absence of anything formally drafted for the South African market.
The publication of the King III Code of Governance in 2010, has replaced the need for a formal governance framework but there is still a need amongst professionals for minimum standard practices in designing reward policies, processes and practices.
The originally drafted GARP modules have now been converted into a programme of self-paced learning modules available electronically, with the intention of benefiting aspiring reward professionals by providing a solid foundation and framework for designing reward practices, policies and processes.
They have been renamed MINIMUM REWARD STANDARD modules
Minimum Reward Standard Modules
The modules covered by this programme are as follows:
1. Reward Strategy and Management - This module outlines the best practices required to implement a holistic approach to reward strategy and management in an organisation.
2. Job Descriptions - This module aims to ensure: consistency, objectivity, and transparency in the development and use of job profiles in organisations
3. Job Evaluation – This module explores the process of determining, without regard for personalities or personal competencies, the worth of one job relative to another and of measuring the intrinsic worth of the job.
4. Fixed Pay – This module explores the practices to consider when determining fixed pay - the remuneration an employee will receive, regardless of performance.
5. Benefits – This module covers the standards for benefits, and relates to the employee value proposition (EVP) embedded in benefits. It positions how benefits should be integrated into the reward framework of the organisation.
6. Performance Management - This module focuses on the practices for employee performance management that are the key to the success of any organisation.
7. Variable Pay - This module looks at standard practices relating to variable pay, and the different approaches that need to be considered.
8. International Mobility - This module looks at how International Assignments can be utilised to maximum effect.