HR and senior managers need to understand the concepts of compensation and benefits and how they are used by organisations to achieve their strategic goals. This event sets out the fundamentals of compensation and benefits and how to create an appropriate reward structure. Different types of pay systems and employee benefits are effectively evaluated to enable managers to implement an effective system that will support organisational and individual performance.
The program is highly participative and interactive. Attendees will share experiences and knowledge through a blend of facilitated discussion, individual exercises, case studies and group activities, in a way that enables the direct transfer of their learning into the workplace.
- To be able to analyse and benchmark your organisations compensation and benefits structure
- To establish appropriate wage and salary scales for the local and international market place
- To be able to make realistic salary adjustment schemes in accordance with the individual performance, andnationalaswellasinternational macroeconomic and microeconomic factors
- To understand the wider impact of compensation and benefits in employee engagement
- To ensure alignment of compensation and benefits strategy with the long term corporate objectives
WHO SHOULD ATTEND?
This course is designed for Middle Managers, Functional Senior Managers, Generalist HR Professionals, Senior Payroll Officers and anyone interested or with responsibilities in the area of Compensation and Benefits.
– Understand the internal and external influences on compensation and benefits
– Understand how compensation and benefits can impact on an organisation
– Review and compare your organisation’s programme against other organisations
– Define the core components of a compensation and benefits system
– Develop skills to carry out job analysis, role evaluations and grading methods
– Understand and manage the motivational links between pay and performance
– Describe the mandated and cafeteria benefit options available and
- TOTAL REWARDS: FINANCIAL AND NON-FINANCIAL & THE WAGE-LEVEL DECISION PROGRAMS
- JOB EVALUATION METHODS & JOB PRICING AND PAY RATE ADMINISTRATION
- ECONOMIC FACTORS AFFECTING COMPENSATION, INCENTIVE COMPENSATION & EXECUTIVE COMPENSATION
- COMPENSATION LAWS AND REGULATIONS
- EMPLOYEE BENEFIT PROGRAMS, HEALTH CARE PROGRAMS AND MANAGING EMPLOYEE BENEFITS PROGRAMS
- INTERNATIONAL HR COMPENSATION ISSUES.
- EVALUATING TOTAL COMPENSATION STRATEGY AND PROGRAMME EFFECTIVENESS