“Rewards remain the very core of all Talent Management challenges in organizations and managers must know the best ways to deal with the issues”
A Comprehensive e-learning program for 6 weeks
CONTENT AND COVERAGE
CHAPTER 1: COMPENSATION SYSTEMS Introduction, Understanding of the Fundamentals of Compensation, Benefits, Rewards, Total Rewards, Components of Compensation Systems, Compensation Systems in the Indian Environment, Compensation Approach and Framework plus Exercise.
CHAPTER 2: REWARD CONCEPTS Reward Philosophy, Reward Strategy, Total Reward Programs, Factors Affecting Rewards, Statutory Compliances, Environmental Factors, Impact of Globalization on Compensation Programs plus Exercise.
CHAPTER 3: JOB EVALUATION AND PRICING Job Evaluation, Aspects of Job Evaluation, Job Evaluation Methodologies, Job Design, Point Rating Method, Hay Guide Chart Profile, Job Evaluation and Pay Determination, Job Pricing, Broad Banding, Linking Job Points to Pay Points plus Exercise.
CHAPTER 4: COMPENSATION SURVEYS & DATA ANALYSIS Compensation Surveys, Types of Surveys, Job Equivalence, Survey Data Analysis, Job Evaluation and Salary Data, Grade Point and Market Salary, Median Pay, Percentiles, Compensation Ratios, Salary Rates, Salary Equity, Market Parity plus Exercise.
CHAPTER 5: DEVELOPING COMPENSATION STRUCTURES Evolution of Compensation Structures, Types of Employee Rewards, Standard Reward Practices, Flexible Pay Programs, Developing Different Compensation Structures in a Global Environment, Communicating of Compensation and Benefits Structures as ‘Employee Value Proposition’ plus Exercise.
CHAPTER 6: VARIABLE PAY PLANS Variable Pays, Types of Variable Pays (STI, MTI, LTI), Trends in Variable Pays, Designing Variable Pays, Steps in Introducing Variable Pays, Rewarding Critical Roles & Hot Skills, Different Types of Variable Pay Programs plus Exercise.
CHAPTER 7: LINKING REWARDS TO PERFORMANCE Defining Performance Parameters, Measuring Performance, Basic Guidelines for Rewarding, Typical Reward Models, Linking Rewards to Performance, Pay for Performance, Integrating Total Rewards with Job, Market & Performance plus Exercise.
CHAPTER 8: REWARD COMMUNICATION Communication of Reward Programs, Changing Approach to Reward Communications, Steps in Effective Reward Communication, Implementation Guidelines for Reward Programs in Organizations plus Exercise.
WHO CAN ATTEND
This Program is recommended as a must for all those people who have a direct or indirect role to play, and are in a position to influence and take decisions in the areas of Compensation & Rewards processes of organizations.
The suggested categories of participants are HR heads/HR managers, reward heads/reward managers, recruitment heads/ recruitment managers, payroll managers, staff managers, business managers, line managers, recruitment consultants, HR consultants, reward consultants etc.
KEY TAKE AWAYS
Learn about the fundamental concepts of compensation, benefits, rewards and total rewards.
Learn how to link your compensation philosophies and strategies to your organization goals and HR objectives.
Learn about job evaluations and job pricing, and their significance in setting salaries and employee rewards.
Learn about the key statistical methodologies used in compensation research and data analysis.
Learn how to design appropriate and relevant total compensation plans and reward programs.
Learn about the principles of evaluating performance and linking performance to effective rewards.
Learn about market compensation and benefits benchmarking surveys, and how to use the market data results in determining your internal salary levels.
Learn how to develop performance-based pay systems, and other variable pay programs.
Learn how to design compensation structures and flexible pay plans based on tax laws and statutory compliances.
Learn how to design effective reward communication programs for your business success.
LEARNING AND CERTIFICATION PROCESS
Total Duration 6 weeks
There is no fixed schedule. It’s up to you, when you learn and how much time you spend each day / week.
In total, you will need to invest 48 – 60 hours to finish the program within 6 weeks.
On completion, you will receive “Recognition Certificate” for “Certified Compensation and Benefits Professional” with Grades.
