Introduction

In all organizations, human resources is the most significant expense. Therefore, the compensation and benefits administration must be of the highest quality. Well-trained Remuneration staff can monitor the systems and add a strategic perspective.

This HR compensation and benefits management course offers a comprehensive overview of benefits administration. It explores the Strategic dimensions - how the entire process can deliver value for money and support the organization in achieving its goals.

Participants in the HR compensation and benefits management course will learn how to tailor reward strategies to cope with societal and organizational changes and balance employee participation with corporate objectives and profitability.

This training course offers a pathway to obtaining the HR compensation and benefits certification. This recognition attests to the participant's expertise in the field. With this certification, professionals signal tangible competencies in compensation management and benefits administration.

Participants who complete the HR compensation and benefits management program will have the distinction of a certified compensation and benefits professional, positioning themselves as experts equipped with best practices to manage compensation and benefits effectively within their organizations.

Course Objectives

By the end of the HR compensation and benefits management course, participants will be able to:

Understand Reward philosophy and strategy.

Explore the effective management of human resources.

Evaluate new practices beneficial for their organization.

Contribute more to the what and how of reward management.

Understand what a robust benefits strategy should include.

Explain the fundamental principles and components of compensation.

Apply processes in compensation: job analysis, job descriptions, and Job Evaluation.

Course Content

DAY1:

Philosophy of reward.

Pay structures and systems.

The psychological contract.

Reward strategies.

Job grades.

Career mapping.

Job evaluation.

Conducting pay surveys and market comparisons.

DAY 2:

Performance management.

Competency frameworks.

Performance-related and contingent pay.

The relationship between money and motivation.

Team rewards.

Recognition schemes.

Implementing upward and 360 appraisals.

Contingent pay.

DAY 3:

Ensuring recognition schemes are inclusive.

Diversity management and its impact on compensation.

Establishing equal pay.

Conducting equal pay audits.

In-depth job analysis techniques.

DAY 4:

Navigating dynamic organizational structures.

Change management strategies and their impact on rewards.

The evolving employment relationship and compensation practices.

DAY5:

Fostering employee engagement.

The role of employee participation in benefits administration.

Working with trades unions and works councils.

Facilitate consultation.