Compensation and Benefits Management
Course Info
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Course Details
Introduction
Objective
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A well designed compensation & benefits plan will benefit your organisation by the Job satisfaction as your employees would be happy with their jobs and would love to work for you if they get fair rewards in exchange of their services. they would associate themselves with firms which offer greater chances of promotion, learning and development.
Successful Compensation and benefits managers analyze data to determine the best pay and benefits plans for an organization. They may also monitor trends affecting pay and benefits and assess ways for their organization to improve practices or policies.
This course looks at the basic building blocks of effective compensation and benefits administration and then goes on to explore the strategic dimensions - how the whole process can add real value for money and help the organisation achieve its strategic objectives. In all organisations,
The course will enable you to design compensation & benefits policies that motivate your employees while keeping their focus on the company’s strategic objectives.
Course Outline
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
