Compensation and Benefits Management

courses Syllabus

Introduction

This program caters to:

• Professionals in the field seeking relevant knowledge and skills enhancement.
• Individuals in other HR domains aiming to broaden their comprehension of this vital function.

Objectives

Upon completion, participants will be able to:

• Explain fundamental principles and key components of compensation.
• Apply various compensation processes including job analysis, job descriptions, and job evaluation.
• Determine and articulate the elements of a robust and efficient compensation and benefits program.
• Design salary structures and related policies.
• Describe the fundamentals of the compensation survey process.

Content

Managing Compensation – An Overview

• Understanding Compensation Objectives, Components, and Influencing Factors
• Implementing an Effective Compensation Management System

Job Analysis and Job Descriptions

• Importance of Job Descriptions
• Approaches to Job Analysis
• Conducting Job Analysis
• Components of Job Descriptions
• Practical Application of Job Description Writing

Job Evaluation

• Defining Job Evaluation
• Methods of Job Evaluation
• Overview of Evaluation Systems
• Introduction to the Hay System
• Guidelines for Job Evaluation
• Addressing Sources of Error

Compensation Systems

• Key Compensation Policies
• Factors Influencing Pay Levels
• Competency-Based Pay
• Designing Basic Salary Structures
• Determining the Right Number of Grades
• Progression and Spread in Salary Structures
• Incorporating Allowances into Total Pay

Understanding Benefits

• Definition and Purpose of Benefits
• Categories of Benefits
• Regional Variations in Benefit Practices
• Effective Benefits Program Management
• Essentials of Long-Term Benefit Plans

Introduction to Compensation Surveys

• Purpose and Design of Compensation Surveys
• Conducting Compensation Surveys
• Analyzing Compensation Survey Reports