Pay and Benefits Strategy: Aligning Rewards with Organizational Success
Introduction
Compensation and benefits are among the most powerful tools organizations can use to attract, motivate, and retain talent. This program is designed for professionals who want to gain an in-depth understanding of compensation principles, benefits management, salary structures, and the design of fair and competitive pay systems. It also provides insights into global and regional practices, evaluation methodologies, and survey techniques, ensuring participants are fully equipped to manage modern reward strategies.
Objectives
By the end of this program, participants will be able to:
* Explain the basic principles and major elements of compensation.
* Apply processes in compensation such as job analysis, job descriptions, and job evaluation.
* Determine and explain what constitutes a sound and effective compensation and benefits program.
* Design salary structures and related compensation policies.
* Describe the compensation survey process and interpret survey results.
Who Should Attend
* HR professionals specializing in compensation and benefits.
* HR generalists who want to broaden their expertise in rewards.
* Compensation analysts, payroll managers, and HR business partners.
* Managers and supervisors involved in pay and benefits decisions.
* Professionals aspiring to specialize in total rewards strategy.
Organizational Benefits
* Development of competitive compensation structures that attract and retain top talent.
* Enhanced transparency and fairness in pay systems to boost employee trust.
* Improved alignment of pay and benefits strategies with organizational goals.
* Stronger compliance with market practices and legal requirements.
* Increased employee motivation through well-designed reward programs.
Personal Benefits
* Build expertise in compensation, benefits, and job evaluation systems.
* Learn practical tools to design and manage salary structures.
* Gain confidence in analyzing and interpreting compensation surveys.
* Enhance professional credibility as a compensation and benefits specialist.
* Acquire skills that make you a strategic contributor to HR decision-making.
Training Methodology
This program uses a blended approach combining:
* Expert-led presentations.
* Group discussions and case studies.
* Hands-on workshops (e.g., writing job descriptions, designing salary structures).
* Real-world examples from different industries.
* Practical exercises to ensure knowledge transfer and application.
Course Content
Day One: Managing Compensation – An Overview
* Compensation objectives, components, and factors affecting compensation.
* Building an effective compensation management system.
Day Two: Job Analysis and Job Descriptions
* The need for job descriptions.
* Principal approaches to job analysis.
* Carrying out the job analysis process.
* Main components of a job description.
* Practical workshop: Job description writing.
Day Three: Job Evaluation
* Job evaluation defined.
* Job evaluation methods.
* The Meirc system explained.
* The Hay system: An overview.
* Guidelines for job evaluation.
* Sources of error in job evaluation.
Day Four: Compensation Systems
* Main compensation policies.
* Factors affecting pay levels.
* Paying for competence.
* Designing salary structures: grades, spread, and progression.
* Allowances as part of total pay: nature of work vs. non-nature of work allowances.
* Regional practices.
Day Five: Understanding Benefits
* Definition and purpose of benefits.
* Categories of benefits and regional practices.
* Managing an effective benefits program.
* Main features of a long-term benefits plan.
Day Six: Introduction to Compensation Surveys
* Purpose of compensation surveys.
* Designing and carrying out a compensation survey.
* Interpreting and reporting compensation survey results.
Enquiries and Registration
Enquiry at : admin@keleaders.com
Whatsapp: 0044 790 125 9494
For more details visit our website : www.keleaders.com
