Why Attend
'Compensation and benefits' is the part of human resources that works behind the scenes. It is usually the specialization in human resources that professionals in the field typically avoid for its seemingly complex nature and dependency on mathematics. By attending this course, you will change your mind about this HR specialty. You will learn an approach which is easy to understand and which explains the specifics of compensation and benefits. This approach will also help you in applying the principles of compensation and benefits practically at work.
Course Methodology
The course will use a combination of theory and practical applications of course concepts. Participants will engage in simulation exercises that will emulate real life situations allowing them to gain deep insights about the concepts covered.
Course Objectives
By the end of the course, participants will be able to:
Define and demonstrate understanding of the importance of compensation to the overall aims of human resources management
Design a comprehensive compensation system
List the benefits of job evaluation and choose an appropriate system for own organization
Assess and provide advice on regional compensation practices
Recite the principal steps in a compensation survey and answer questions relating to the criticality of job matching to the success of any compensation survey
Target Audience
Professionals with at least 2 to 3 years experience in the compensation and benefits field, HR administrators, officers, specialists, team leaders, managers and business partners who wish to enhance their knowledge and skills in this important area of human resources.
Target Competencies
Deciding and initiating action
Working with people
Relating and networking
Presenting and communicating
Analytical thinking
Applying expertise and technology
Formulating concepts and strategies
Following instructions and procedures
Course Outline
Managing compensation: an overview
Total compensation
Direct and indirect compensation
Balancing compensation components
Equitable, value adding, competitive and motivating compensation
Internal consistency
External consistency
The hierarchy of needs and compensation
Job analysis and job descriptions
Job analysis explained
Carrying out the job analysis process
Conducting a proper job analysis interview
Explaining a typical job description
Job analysis: a summary
Job evaluation
Job evaluation systems
Introduction to the Meirc system
The Meirc job evaluation system explained
Introduction to the Hay system
Job grading
Sources of error in the job evaluation process
Compensation systems
Objectives of compensation
Decisions to take
Designing base salary structures
Allowances to offer
The structuring of benefits’ programs
Important considerations in compensation
Managing your compensation programs
Competitive compensation
Designing and carrying out compensation surveys
Four basic survey methods
Data requirements
Issues related to the implementation of change
Performance based rewards
Objectives of performance management
Current and prevailing PM systems
Rewarding performance
Rewarding the right behaviors and results
Key Performance Indicators (KPIs)
INFORMATECH is the region’s leading provider of in-house custom-designed courses. We have been tailoring in-house solutions for our clients aimed at helping them achieve short term training wins or long term strategic requirements. In addition to being significantly cost effective, these courses are constantly in demand because they:
If you did not find the appropriate date or venue suitable for you, or you would like to join the course online, you can request a custom course from the link below.
We offer group and corporate discounts on many courses. These discounts are available for clients who want to maximize their return on investment.
We offer individual discounts on many courses for people who are self-sponsored and make their payment in full and upfront at the time of registration.
Nominations to our public courses are to be processed by the client’s HR/Training department except for self-nominations which are to be paid in advance using the “payment by self” option on the online registration form. A refund will be issued back to the client in the event of course cancellation or seat unavailability. Registration confirmation is subject to INFORMATECH's review of registration request and seat availability.
Clients are responsible for any type of tax levied in their country.
If you are interested in having a course custom-designed for your organization, please submit a request using the link below. Once we receive your duly completed request, one of our business development professionals or consultants will get in touch with you to understand your requirements with more detail and answer any relevant questions you may have. After all pertinent information has been exchanged, we will work on the custom-designed request and send you the proposal you require and work with you to identify the ideal period and place for delivering the custom-designed solution.