Compensation and Benefits

Course outline:

Module One:

Managing Compensation

• Compensation Objectives, Components and Factors Affecting Compensation
• Effective Compensation Management System

Module Two:

Job Analysis and Job Descriptions

• The Need for Job Descriptions
• Principal Approaches to Job Analysis
• Carrying Out the Job Analysis Process
• The Main Components of Job Description
• Job Description Writing “Practical Application”

Module Three:

Job Evaluation

• Job Evaluation Defined
• Job Evaluation Methods
• Job Evaluation Guidelines
• Sources of Error

Module Four:

Compensation Systems

• Main Compensation Policies
• Factors Affecting Pay Levels
• Paying for Competence
• Basic Salary Structures
• Salary Structure Design
• The Right Number of Grades
• Spread and Progression

Module Five:

Allowances as Part of Total Pay

• Purpose of Allowances
• Nature of Work Allowances
• Non-Nature of Work Allowances
• Regional Practices

Module Six:

Understanding Benefits

• Definition and Purpose of Benefits
• Categories of Benefits
• Regional Practices
• Managing an Effective Benefits Program
• Main Features of a Long-Term Benefit Plan

Module Seven:

Introduction to Compensation Surveys

• Purpose of Surveys
• Designing and Carrying Out a Compensation Survey
• Compensation Survey Reports