Course Description
This comprehensive 5-day course equips HR professionals with the knowledge and skills to develop and manage effective compensation and benefits programs. Participants will explore key concepts, strategies, and best practices in total rewards management, enabling them to create competitive and sustainable compensation structures that align with organizational goals.
Learning Objectives
- Develop a strategic approach to compensation and benefits management
- Master job evaluation techniques and market pricing strategies
- Design and implement performance-based pay systems
- Create comprehensive benefits packages that meet employee needs
- Analyze the impact of compensation and benefits on organizational performance
Course Modules
Day 1: Foundations of Compensation and Benefits
- Introduction to total rewards management
- Compensation philosophy and strategy
- Legal and regulatory considerations
- Compensation benchmarking and market analysis
Day 2: Job Evaluation and Salary Structures
- Job analysis and documentation
- Point factor and market-based job evaluation methods
- Developing pay grades and ranges
- Salary structure design and administration
Day 3: Performance-Based Pay and Incentives
- Linking pay to performance
- Short-term and long-term incentive plans
- Sales compensation strategies
- Executive compensation considerations
Day 4: Employee Benefits and Total Rewards
- Core and voluntary benefit options
- Health and wellness program design
- Retirement and savings plans
- Work-life balance initiatives
Day 5: Strategic Implementation and Communication
- Aligning compensation with business strategy
- Cost modeling and budgeting
- Effective communication of compensation and benefits
- Measuring program effectiveness and ROI
Practical Wins for Participants
- Develop a comprehensive compensation philosophy for their organization
- Create a market-competitive salary structure using job evaluation techniques
- Design a performance-based pay system aligned with organizational goals
- Craft a total rewards strategy that enhances employee engagement and retention
Credits: 5 credit per day
Course Mode: full-time
Provider: Blackbird Training Centre
