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What is Compensation and Benefits Program?

Compensation and benefits is an emotional area, for the organizations as well as of employees. Establishing and managing a compensation structure is one of the critical subjects for the human resource department. Extremely important it’s become to design the correct reward package that supports the business objectives.

What the participants will learn from Compensation and Benefits Corporate training at Gits Academy?

This training program will help the HR experts to understand the significance of compensation and benefits in a manner that they can comprehend complexities, fundamental reward framework, the overall trends in compensation and benefits and are able to link pay with performance for better execution. At the end of this training participant will be able to construct well-structured and excellent compensation and benefits to offer, that work adequately, give the best value to the organization and structure remuneration plans. The Participants will also:

  • Understand the global part of government regulation and social security in compensation
  • Understand the 6 components of  a compensation framework and 8 steps of how to fabricate successful variable pay frameworks
  • Learn how to create a point plan and a job grading system to build internal equity and  how sociological, demographic, globalization changes effect compensation
  • Understand how to make different levels of salary benchmark and how to build the Hay Plan
  • Learn how reward planning can be utilize to cut compensation costs and  how to build high impact compensation systems during recession

Who are target Audience for this training?

Senior HR executives and professionals who develop and administer the compensation and benefits plan in an organization.

Course Outline

ModuleTraining objectivesMethodTime
Compensation and Benefits Environment
  • The Environmental Factors Effecting Compensation
  • Government Regulation & Social Security in Compensation
  • Social Changes & Demographics in Compensation
  • Changes in Compensation Due to Collective Bargaining
  • Changes in the Compensation Administration Due to Outsourcing and Globalization
Case analysis exercises2 hrs
Rewards & Basics of Compensation
  • Compensation Basics
  • Components of Compensation System
  • Equity Theory
Case analysis, Simulation exercises1.5 hrs
Building Internal Equity
  • Job Description and Job Analysis
  • Establishing Internal Equity: Job Evaluation Methods
  • Using Job Rankings
  • Creating Job Grading
  • Creating Point Plans
  • Hay Plan Overview
Exercise mark -up3 hrs
Building External Equity
  • Different Aspects of Establishing External Equity
  • Salary Survey
  • Designing Salary
  • Periodicity of Salary Surveys
Case Simulation exercises1.5 hrs
Building Individual Equity
  • Performance Pay Options
  • Building Performance Pay Systems
  • Steps in Introducing Pay for Performance System
  • Pay for Performance : The Challenges
Lecture Discussion3 hrs
Benefit Plans & Total Reward Planning
  • Benefit Plans
  • Mandated Benefits
  • Non-Monetary Perquisites and Monetary Perquisites
  • Security/Insurance Benefits
  • Retirement Benefits
  • Time Off Related Benefits
  • Cafeteria Plan/Flexible Benefit Plans
  • New Trends in Benefits
Case analysis Simulation exercises3 hrs
Total Reward Planning
  • Reward Strategy Objectives
  • Components of Total Reward
  • Theories Influencing Total Reward
Lecture Discussions2 hrs
June 16, 2017
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