In the face of a completely disrupted business landscape, changing employee expectations, and growing scrutiny on wage fairness, Compensation and Benefits strategies are under unprecedented pressure. Approaches that worked a few years ago will leave your organization vulnerable to a variety of risks.

Compensation and benefits are key components of any HR strategy, as they affect their ability to attract, retain, and motivate your talent. A compensation strategy details an organization’s approach to compensating its employees. It sets out how remuneration is determined and the types of compensation offered to employees, including base pay, additional pay, and non-financial benefits. A strong compensation strategy is required in order to attract and retain people who have the appropriate knowledge, skills, aptitudes, competencies and attitudes to get the job done.

Target Participants

This course is designed for Human Resource professionals working in the compensation and benefits discipline, HR staff who are responsible for the administration of benefits or reward, HR Business Partners and anyone involved in salary, pay and conditions of work.

What you will learn

By the end of this course the participants will be able to:

• Understand the importance of compensation and benefits and what they are
• Understand Reward philosophy and strategy
• Explore some of the issues surrounding the effective management of the human resource
• Evaluate ‘new’ practices that might benefit their organization
• Defend the case for non-financial rewards in attracting, retaining and motivating people
• Contribute more to the what and how of reward management
• Learn about benefits strategy should look like and contain
• Explain the basic principles and major elements of compensation
• Explain the critical economic, psychological, and motivational concepts that influence reward
• Apply the various processes in compensation: job analysis, job descriptions, and Job Evaluation.

Course duration

Online: 7 Days

Classroom: 5 Days