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Compensation and Benefits Professional

Heart

Why Attend

‘Compensation and benefits’ is the part of human resources that works behind the scenes. It is usually the HR specialization that professionals typically avoid for its seemingly complex nature and dependency on mathematics. Attending this course will change your mind about this HR specialty. You will learn an approach that is easy to understand, and that explains the specifics of compensation and benefits. This approach will also help you apply the principles of compensation and benefits at work.

In this certified course, participants will demonstrate the knowledge they have gained by taking an examination at the end of the course.

Course Registration

Course Methodology  The course will use a combination of theory and practical applications of course concepts. Participants will engage in simulation exercises that emulate real-life situations, allowing them to gain deep insights into the concepts covered. Course Objectives By the end of the course, participants will be able to:

  • Define and demonstrate an understanding of the importance of compensation to the overall aims of human resources management
  • Analyze jobs using a systematic approach and prepare a draft job description.
  • Evaluate jobs using the factor point system methodology
  • Design a comprehensive compensation system
  • 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
  • Link reward to performance using a fair quantitative approach
Target Audience Professionals with at least 2 to 3 years of 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 critical area of human resources. Target Competencies
  • Job analysis
  • Writing job descriptions
  • Job evaluation
  • Compensation system design
  • Analyzing surveys
  • Rewarding performance

Managing Compensation: An Overview

  • Compensation objectives
  • Total compensation
  • Direct and indirect compensation
  • Balancing compensation components
  • Compensation and benefits cycle
  • The hierarchy of needs and compensation

Job Analysis and Job Descriptions

  • Uses of 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

  • Definition of 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

  • Staying competitive
  • Designing and carrying out compensation surveys
  • Four basic survey methods
  • Data requirements
  • Issues related to the implementation of change

Performance-Based Rewards

  • The definition of Performance Management (PM)
  • Objectives of Performance Management
  • Current and prevailing PM systems
  • Rewarding performance
  • Rewarding the right behaviors and results
  • Key Performance Indicators (KPIs)






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