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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
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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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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
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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
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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
www.lpcentre.com