Course Details
Course Outline
5 days course
Introduction to Compensation and Benefits Management
- What is Compensation and benefits management?
- Benefits of Compensation and benefits
- Basic principles of Compensation and benefits management
- Difference between compensation and benefits
- Designing the compensation and benefits plan
- Philosophy of reward
- Pay structures and systems
- Reward strategies and the psychological contract
- Job grades and Career mapping
- Job evaluation
- Pay surveys
Compensation and Benefits - in Context
- Motivation models, money and motivation
- Performance management and performance related pay
- Competency frameworks
- Team rewards
- Upward and 360 appraisals
- Contingent pay
Compensation Structure
- Understanding the different components of compensation policies
- Understanding the components on which the pay levels get affected
- How much should we pay for competence?
- Understanding the basic pay scale
- The grading scale and progression and spread
The International Perspective
- International and multinational perspectives
- The labour market and Human Resource planning
- Equality and diversity
- Job analysis
- Dynamic organisations and change management strategies
- The changing context and nature of the employment relationship
The methodology of Allowances and Benefits
- Understanding the purpose of allowance
- The different kinds of work allowance
- Nature and non-nature of work allowance
- Understanding the importance of benefits
- Different categories of benefits
Employee Involvement
- Employee engagement
- Employee participation
- Trades Unions and Employee Representatives
- Consultation
- Involvement in and support of change
- Practical activities
Benefits and Compensation Surveys
- Understanding the regional practises and effective management of benefits program and long – term benefits plan
- Role of compensation surveys
- Training on preparation of a compensation survey reports
- Training on carrying out compensation surveys
- Review of the course and “Question and Answer session”
Current Good Practice
- Flexible benefits
- National minimum wage
- Commissions and sales staff
- Profit sharing
- Case study
- Action planning
