Compensation and Benefits
5 DaysCompensation and Benefits - Virtual Learning
Course Methodology
The course will use a combination of theory and practical applications of course concepts. Participants will engage in simulation exercises that will emulate real life situations allowing them to gain a strong understanding of the concepts covered.
Course Objectives
By the end of the course, participants will be able to:
- Explain the basic principles and major elements of compensation.
- Conduct a proper job analysis and write high-quality job descriptions.
- Apply the process of job evaluation fairly and systematically.
- Build a sound and effective salary structure using the right mathematical approach.
- Design organizationally fit allowances and benefits.
Describe the basic compensation survey process as well as the terms needed to read and understand salary surveys.
Target Audience
Professionals working in the function who wish to acquire relevant knowledge and skills, and those working in other areas of human resources as administrators, officers, specialists, team leaders, managers and business partners who wish to broaden their understanding of this important function.
Target Competencies
- Job analysis
- Writing job descriptions
- Conducting interviews
- Job evaluation
- Designing compensation systems
- Reading surveys
Course Outline
- Managing compensation: an overview
- Definition of compensation and benefits
- Compensation objectives
- Components and factors affecting compensation
- Total compensation
- Effective compensation management system
- Compensation and benefits cycle
- Job analysis and job descriptions
- The need for job descriptions
- Principal approaches to job analysis
- Carrying out the job analysis process
- Conducting a proper job analysis interview
- The main components of a Al Mawred job description
- Writing job descriptions
- Practical applications
- Job evaluation
- Defining 'job evaluation'
- Job evaluation methods
- The Hay system: an overview
- The Al Mawred system explained
- Job evaluation guidelines
- Sources of error
- Practical job evaluation applications
- Compensation systems
- Main compensation policies
- The right number of grades
- Salary structure design
- Spread and progression
- Factors affecting pay levels
- Paying for competence
- Basic salary structures
- Building a salary structure
- Allowances and benefits
- Allowances as part of total pay
- Purpose of allowances
- Nature of work allowances
- Non nature of work allowances
- Regional practices
- 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
- Conducting a benefits package assessment
- Allowances as part of total pay
- Introduction to compensation surveys
- Purpose of surveys
- Designing and carrying out a compensation survey
- Steps in compensation surveys
- Developing salary structures
- Compensation survey reports
- How to use the market data
- Survey statistics
Mawred Certificate
Mawred Certificate courses by Al mawred Training & Consulting are designed for those willing to challenge themselves and go the extra distance...
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Virtual Schedule
Classroom Schedule
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