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Compensation and Benefits
DATE
24 - 28 Apr, 2023
LOCATION
To Be Determined;
Why Attend?
Compensation and Benefits
Course Objectives
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By the end of the course, participants will be able to:
- Explain the basic principles and major elements of compensation
- Apply the various processes in compensation: job analysis, job descriptions and job evaluation
- Explain what constitutes a sound and effective compensation and benefits program
- Design a salary structure and related policies
- Describe the basic compensation survey process
Target Audience
Professionals working in the function who wish to acquire relevant knowledge and skills, and those working in other areas of human resources as administrators, officers, specialists, team leaders, managers and business partners who wish to broaden their understanding of this important function.
- Managing compensation: an overview
- Compensation objectives
- Components and factors affecting compensation
- Effective compensation management system
- Job analysis and job descriptions
- The need for job descriptions
- Principal approaches to job analysis
- Carrying out the job analysis process
- Conducting a proper job analysis interview
- The main components of a Meirc job description
- Writing job descriptions
- Practical applications
- Job evaluation
- Defining 'job evaluation'
- Job evaluation methods
- The Meirc system explained
- The Hay system: an overview
- Job evaluation guidelines
- Sources of error
- Practical job evaluation applications
- Compensation systems
- Main compensation policies
- Factors affecting pay levels
- Paying for competence
- Basic salary structures
- Salary structure design
- The right number of grades
- Spread and progression
- Building a salary structure
- Allowances and benefits
- Allowances as part of total pay
- Purpose of allowances
- Nature of work allowances
- Non nature of work allowances
- Regional practices
- Understanding benefits
- Definition and purpose of benefits
- Categories of benefits
- Regional practices
- Managing an effective benefits program
- Main features of a long term benefit plan
- Conducting a benefits package assessment
- Allowances as part of total pay
- Introduction to compensation surveys
- Purpose of surveys
- Designing and carrying out a compensation survey
- Compensation survey reports
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