Introduction
This course is designed for:
– Professionals and experts working in the function who wish to acquire related knowledge and skills,
– and those working in other areas of Human Resources who wish to broaden their comprehension of this important function.
Objectives
– Understanding the basic concepts and major elements of compensation.
– Apply the several processes in compensation: job analysis, job descriptions and Job Evaluation.
– Determine and explain what constitutes a sound and effective compensation and benefits program.
– Build a salary structure and related policies.
– Describe the basic compensation survey process.
Course Outline
Day 1
An Overview of Managing Compensation
– 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.
– Handling the Job Analysis Process.
– The Main Components of a Job Description.
– Job Description Writing “Practical Application”.
Day 2
Job Evaluation
– Job Evaluation Definition.
– Job Evaluation Methods.
– The System Explained.
– The Hay System: An Overview.
– Job Evaluation Guidelines.
– Sources of Error.
Day 3
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.
Day 4
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.
Day 5
Introduction to Compensation Surveys
– Purpose of Surveys.
– Designing and Carrying Out a Compensation Survey.
– Compensation Survey Reports.
Leave a Comment