Compensation and Benefits Management

Compensation and Benefits Management

Monday 25 Oct 2021

  • Duration: One Week
  • City: London
  • Fees: Classroom: 3900 GBP / Online: 1950 GBP



This course has been specially designed for the professionals and experts and other administrative persons working in the different areas of Human Resource to learn the efficient management techniques of compensation and benefits rewards.

Course Objectives:

  • Understand the methodology of compensation
  • Analyse the processes in compensation like job analysis and job description and job evaluation
  • Preparing a salary structure and other related policies
  • Understand the basic compensation survey process

Course Outlines:

Day 1

Fundamentals of Compensation Management

  • Understanding the concept of “Job analysis” and “Job Description”
  • Role and objective of compensation and the different components and factors
  • Learn the effective compensation management system
  • Importance of job description
  • Method for “Job analysis”
  • Managing the process of “Job analysis”
  • Preparing job description

Day 2

Methodology of Job Evaluation

  • Introduction to job evaluation
  • Methods for job evaluation
  • Explanation of the “Hay System”
  • Instructions / rules of job evaluation
  • Recognising the errors

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

Day 4

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

Day 5

Benefits and Compensation Surveys

  • 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”
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