Compensation and Benefits Management Training Course

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Compensation and Benefits Management www.lpcentre.com www.lpcentre.com
Compensation
and Benefits Management
Human Resources

INTRODUCTION

A well designed compensation & benefits plan will benefit your organisation by the Job satisfaction as your employees would be happy with their jobs and would love to work for you if they get fair rewards in exchange of their services. they would associate themselves with firms which offer greater chances of promotion, learning and development. Successful Compensation and benefits managers analyze data to determine the best pay and benefits plans for an organization. They may also monitor trends affecting pay and benefits and assess ways for their organization to improve practices or policies.

This course looks at the basic building blocks of effective compensation and benefits administration and then goes on to explore the strategic dimensions - how the whole process can add real value for money and help the organisation achieve its strategic objectives. In all organisations,

The course  will enable you to design compensation & benefits policies that motivate your employees while keeping their focus on the company s strategic objectives.

OBJECTIVES

By the end of Compensation and Benefits Management Course you will be able to :

Define what is Compensation and benefits? Explain the importance of Compensation and benefits to attract and retain the right talent

Understand the components of Compensation and benefits management

Strike the right balance between fixed and variable pay for each role/ job

Compensate fairly for the level of experience, technical expertise, competencies that individuals bring to the table

Develop skills to effectively design employee package to achieve win-win for both employer and the employees

Successfully manage to retain the best talent in the competitive marketion

Develop a clear understanding of reward philosophy and strategy

Demonstrate how the component parts of reward strategy fit together

Explore issues surrounding the effective management of the human resource

Describe why staff are the most expensive resource of the organisation

Evaluate new practices that might benefit their organization

Preparing a salary structure and other related policies

Understand the basic compensation survey process Compensation

Benefits
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and
Management

WHO SHOULD ATTEND ?

This Compensation and Benefits Management Course is ideal for :

Payroll Specialists, Payroll Leaders and Managers, Recruitment and HR personnel, Independent HR experts, Independent Recruiters and consultants

HR staff who are responsible for the administration of benefits and reward

Compensation and Benefits specialists who are new to the area or are looking for a refresher course

More senior HR Staff who are interested in the strategic value of compensation and benefits

Line Managers and Senior Staff who are responsible for managing and motivating Staff and need a better understanding of the impact of remuneration

Others who wish to understand about this important subject

COURSE OUTLINE

Day 1

Introduction to Compensation and Benefits Management

What is Compensation and benefits management?

Benefits of Compensation and benefits

Basic principles of Compensation and benefits management

Difference between compensation and benefits

Designing the compensation and benefits plan

Philosophy of reward

Pay structures and systems

Reward strategies and the psychological contract

Job grades and Career mapping

Job evaluation

Pay surveys

Day 2

Compensation and Benefits - in Context

Motivation models, money and motivation

Performance management and performance related pay

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Compensation and Benefits Management

Competency frameworks

Team rewards

Upward and 360 appraisals

Contingent pay

Day 3

Compensation Structure

Understanding the different components of compensation policies

Understanding the components on which the pay levels get affected

How much should we pay for competence?

Understanding the basic pay scale

The grading scale and progression and spread

The International Perspective

International and multinational perspectives

The labour market and Human Resource planning

Equality and diversity

Job analysis

Dynamic organisations and change management strategies

The changing context and nature of the employment relationship

Day 4

The methodology of Allowances and Benefits

Understanding the purpose of allowance

The different kinds of work allowance

Nature and non-nature of work allowance

Understanding the importance of benefits

Different categories of benefits

Employee Involvement

Employee engagement

Employee participation

Trades Unions and Employee Representatives

Compensation and Benefits Management www.lpcentre.com

Consultation

Involvement in and support of change

Practical activities

Day 5

Benefits and Compensation Surveys

Compensation and Benefits Management

Understanding the regional practises and effective management of benefits program and long term benefits plan

Role of compensation surveys

Training on preparation of a compensation survey reports

Training on carrying out compensation surveys

Review of the course and Question and Answer session

Current Good Practice

Flexible benefits

National minimum wage Commissions and sales staff

Profit sharing

Case study

Action planning

IN-HOUSE TRAINING

LPC Training is capable of conducting this training programme exclusively for your delegates. Please e-mail us on admin@lpcentre.com for further information and/or to receive a comprehensive proposal.

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DOCUMENTATION

High-Quality material has been prepared by the LPC team for distribution to delegates. In addition, a special note pad to facilitate note-taking will be provided.

CERTIFICATES

Accredited Certificate of completion will be issued to those who attend & successfully complete the programme.

SCHEDULE

Our Course timings commence at 09:00 and conclude at 13:00, followed by lunch on a daily basis.

REGISTRATION & PAYMENT

Please complete the registration form on the course page & return it to us indicating your preferred mode of payment. For Further Information, please get in touch with us.

CANCELLATION AND REFUND POLICY

Delegates have 14 days from the date of booking to cancel and receive a full refund or transfer to another date free of charge. If less than 14 days notice is given then we will be unable to refund or cancel the booking unless on medical grounds.

For more details about the Cancellation and Refund policy, please visit www.lpcentre.com/terms-and-conditions/

TRAVEL AND TRANSPORT

We are committed to picking up and dropping off the participants from the airport to the hotel and back.

CONTACT INFO

LONDON

47 49 Park Royal Road

NW10 7LQ, London

T: +44 (0) 20 80 900 464

E: info@lpcentre.com

DUBAI

Office 501

Clover Bay Tower, Business Bay

T: +971 4 421 4616

KUALA LUMPUR

No. 03-06-05, UOA Business Park, Jalan Pengaturcara U1/51A, Section U1, Kawasan Perindustrian Temasaya, 40150 Shah Alam, Selangor

T: +60 19-305 5694

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Compensation and Benefits Management
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