Course Overview
Course Description
This comprehensive 5-day course equips HR professionals with the knowledge and skills to design, implement, and manage effective compensation and benefits programs. Participants will learn to create competitive pay structures, develop attractive benefits packages, and align total rewards strategies with organizational goals. Through case studies and practical exercises, attendees will gain hands-on experience in addressing real-world compensation and benefits challenges.
Learning Objectives
- Develop and implement strategic compensation plans aligned with organizational objectives
- Design competitive and cost-effective benefits packages
- Analyze market data to establish equitable pay structures
- Create performance-based incentive programs
- Understand legal and regulatory compliance in compensation and benefits
- Evaluate the effectiveness of total rewards strategies
Course Modules
Day 1: Foundations of Compensation and Benefits
- Introduction to total rewards concepts
- Strategic role of compensation and benefits
- Compensation philosophy and strategy
- Legal and regulatory environment
Day 2: Job Analysis and Evaluation
- Job analysis techniques
- Job evaluation methods
- Developing job descriptions
- Creating job families and career paths
Day 3: Base Pay and Salary Structures
- Market pricing and salary surveys
- Designing pay grades and ranges
- Pay for performance systems
- Variable pay and incentive programs
Day 4: Employee Benefits and Perks
- Types of employee benefits
- Designing competitive benefits packages
- Health and welfare benefits
- Retirement and savings plans
Day 5: Total Rewards Strategy and Communication
- Integrating compensation and benefits
- Work-life balance initiatives
- Communicating total rewards to employees
- Measuring and evaluating program effectiveness
Practical Wins for Participants
- Ability to design a competitive pay structure using market data
- Skills to create a comprehensive benefits package tailored to organizational needs
- Techniques for developing performance-based incentive programs
- Strategies for effectively communicating total rewards to employees
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