Middle Earth HR

Certified Compensation and Benefits Manager

Today employee costs are rising and managing these costs in an optimal manner is critical for organizational success. The organizations need to maintain a balance between the salary hike and profitability and productivity.
Compensation and benefits is an emotive area, not only for the organizations but also for the employees. Establishing and managing a reward structure is one of the critical cornerstones of the human resource department. It is extremely important to design the right reward package that supports the business goals.

By attending this workshop you’ll learn:

  • Understand the role of government regulation & social security in compensation globally.
  • Understand how globalization, sociological and demographic changes & effects compensation.
  • Understand the 6 components of a compensation system.
  • Understand the 8 steps of how to build effective variable pay systems.
  • Learn how to build a point plan and a job grading system to create internal equity.
  • Understand how to create different levels of salary benchmarks.
  • Understand the Hay Plan.
  • Understand mandated and cafeteria benefit systems & how reward planning can be used to cut compensation costs.
  • Learn how to build high impact compensation systems.

Who should attend?

  • Senior HR, HR Specialist
  • Payroll officers, HR managers, HR Admin Manager
  • Lead PMS and Talent Management
  • Vice President HR, Deputy Manager
  • Senior Executive-Com & Ben
  • Head HR with more than 5 years experience

Course Overview:

MODULE 1: Compensation and Benefits Environment

  • Environmental Factors
  • Governmental Regulation
  • Laws affecting compensation
  • Collective Bargaining
  • Social Security
  • Globalization / Technology

MODULE 2:  Compensation Systems Overview

  • Components Of Compensation System
  • Equity Theory

MODULE 3: Building Internal Equity

  • Overall process
  • Job evaluation method 1 Paired comparison
  • Job evaluation method 2 Job Grading
  • Job evaluation method 3- Point plan
  • Job evaluation method 4- Hay plan

MODULE 4:  Building External Equity

  • Overall Process
  • Salary Survey

MODULE 5: Building Individual Equity

  • Variable Pay Options
  • Steps in introducing Pay for Performance
  • Compensation & Recognition

MODULE 6: Benefit Plans

  • Benefit Plans
  • Cafeteria Plan

MODULE 7: Total Reward Systems

  • Reward Strategy Objectives
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