Compensation and Benefits in Human Resource Management

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 that 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.

Program Objectives

• List the benefits of job evaluation and choose an appropriate system for your own organization.
• Define and demonstrate an understanding of the importance of compensation to the overall aims of human resources management.
• Assess and provide advice on regional compensation practices.
• Design a comprehensive compensation system.

MODULES 

Module 1: Managing Compensation: An Overview

• Compensation objectives
• Total compensation
• Direct and indirect compensation
• Balancing compensation components
• Equitable, value-adding, a competitive and motivating compensation
• Internal consistency
• External consistency
• The hierarchy of needs and compensation

Module 2: 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

Module 3: Job Evaluation

• Definition of job evaluation
• Job evaluation systems
• Introduction to the Hay system
• Job grading
• Sources of error in the job evaluation process 

Module 4: 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

Module 5: Competitive Compensation

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

Module 6: 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)

Certification

Upon successful completion of the training, participant will be awarded Cynet East Africa Consultancy Certificate.

N/B

Online training available at USD 710.

Training will be facilitated by Cynet East Africa Consultancy seasoned trainers.