Course description
One of the biggest factors why people join companies in the compensation and benefits, salaries, perks, incentives etc which is given to them. Apart from the company's reputation and job profile, the money offered as a salary is pivotal in attracting people to work for the organization.
The more compensation and benefits offered to employees, the more is their loyalty, motivation to work and do well. However, companies which offer lesser salaries see a high attrition rate and less productivity from employees. All these factors help in making compensation and benefits an important factor in managing the workforce.
In this course, you will learn about the only part of human resources that works behind the scenes. Compensation and benefits is usually a function that professionals in the field typically avoid for its seemingly complex nature and dependency on mathematics. When you attend this course, you will change your mind about this HR specialty. We will explain the specifics of compensation and benefits in such a way that you be able to apply them easily at work.
Upcoming start dates
Upcoming start dates
Suitability - Who should attend?
This Compensation and Benefits Strategy Masterclass course is designed for :
- 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.
- Everyone who requires an in-depth advanced knowledge of working with and managing salary structures and compensation and reward issues, including both HR generalists and C&B specialists and all professionals who work in HR at all career levels and all specialists who work in Compensation and Benefits, at both an “intermediate” and “advanced” level.
Outcome / Qualification etc.
By the end of Compensation and Benefits Strategy Masterclass course, participants will be able to:
- Explain the basic principles and major elements of compensation
- Apply the various processes in compensation: job analysis, job descriptions and job evaluation
- Explain what constitutes a sound and effective compensation and benefits program
- Design a salary structure and related policies
- Describe the basic compensation survey process
Training Course Content
Day 1
The role of Compensation within the organisation
- Defining the role and purpose of compensation
- The importance of perception and communication
- Recent research
Day 2
The role of the Compensation and Benefits function
- Defining the value of C&B within your organisation
- How C&B links to the wider HR function
- How C&B can work with the wider HR community to deliver integrated tactical and strategic programmes
- The importance of perception and communication
Day 3
Building a Total Compensation Plan (with a focus on non-cash reward)
- Defining total compensation and articulating its importance to the organisation
- Defining non-cash rewards
- Measuring and communicating non-cash rewards
- Introducing the concepts of employee branding and employee value proposition
Day 4
Refining key skills (dependent upon the needs of the delegates)
- The core competencies of a successful HR professional (focus on building relationships and business acumen)
- Implementing ‘change’ – an introduction
- Making performance improvement your core deliverable
- Building your personal workplace credibility and courage
- What working in partnership looks like (including hints and tips)
Day 5
Personalised Feedback
- Participants will be offered individual coaching, worksheets and exercises to build a development plan for success
- Participants will be offered the opportunity to discuss their experiences and work through either fellow delegate issues or case studies
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London Premier Centre
London Premier Centre is a UK leading training provider based in London and specialises in international short courses. Our inspiring, comprehensive portfolio of more than 400 professional development courses and seminars covers a wide range of professions from Administration, Leadership,...