What you'll learn:
- What is compensation and benefits
- How to conduct job analysis
- How to conduct job evaluation
- How to create a pay structure
- How to interpret salary survey data
Compensation and benefits (C&B) is a sub-discipline of human resources, focused on employee compensation and benefits policy-making. While compensation and benefits are tangible, there are intangible rewards such as recognition, work-life and development. Both tangible and intangible rewards are referred to as total rewards.
Total rewards include everything the employee perceives to be of value resulting from the employment relationship (WorldatWork).
Total Rewards are the monetary and non-monetary returns provided to employees in exchange for their time, talents, efforts and results. Total Rewards comprise compensation (fixed or at-risk), benefits and, intangible benefits such as training, career progression etc. It encompasses all that the employee perceives to be of value resulting from the employment relationship.
This course is focused on helping students acquire the foundational skills required to build competence in the specialist area of Compensation & Benefits as a cardinal sub-field of Human Resources Management. It is believed that how organizations reward their employees is imperative to how they are able to attract, retain and motivate talents within the organization.
The Compensation and Benefits for Beginners course will cover the following modules:
Concept of Total Rewards
Concept of Pay Structure
Concept of Job Analysis
Concept of Job Evaluation
Concept of Salary Survey
This course is for the following target audience:
a) Those new to the Human Resources Management;
b) Those intending to switch to the Human Resources Management;
c) Those already in the Human Resources but without rounded knowledge of Compensation & Benefits
