Compensation and Benefits

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Introduction

This course is designed around the compensation and benefits elements an organization needs in order to increase its employees’ commitment. A well implemented compensation and benefits strategy can assure long term effectiveness, as well as efficiency for the organization’s investments.

The training course offers a theoretical background, as well as useful tools and techniques to implement a successful compensation and benefits strategy. This translates into long term effectiveness and efficiency for the organization’s investments and eventually increases the employees’ commitment.

By participating in this training course, you will acquire the strategies and techniques needed to implement a successful compensation and benefits system.

3 Key business benefits

Increase your employee engagement rate through a complex compensation and benefits system, covering a large variety of needs;
Ensure a unitary compensation and benefits applicability within the organization;
Provide motivating compensation and benefits for your employees in a cost-effective manner.

5 Benefits

Bring reliable concepts within your organization in order to successfully build a compensation and benefits system;
Constantly keep your compensation and benefits system updated by accessing international best practices in the field;
Ensure fairness and objectivity at all employees’ levels through a compensation and benefits system;
Opt for a rigorous approach in building and launching an effective compensation and benefits system;
Increase employee performance by successfully rolling a compensation and benefits system.

Learning objectives

Comprehend the principles of the compensation and benefits framework;
Learn how to continuously develop your compensation and benefits system;
Structure a fair compensation and benefits system across the organization;
Analyze the construction phase of a compensation and benefits system;
Distinguish between the compensation and benefits system’s ongoing processes.

Evaluation

The Learning Assessment Quiz will take place at the end of the second day of training.

Agenda

Day 1 – Introduction to the concepts of Compensations and Benefits

Integration in the organizational context;
Impact of payment systems and facilities;
Motivation models;
Alignment of Compensation and Benefits to the business strategy.

Elements of a Compensation and Benefits system

Activity: Differentiate between merits, bonuses, profit sharing and gifts;
Compensation and benefits responsible;
Compensation and benefits beneficiaries.

Building a work environment to sustain Compensation and Benefits

Market research and decision making;
Activity: Establish effective partnerships;
Presentation and communication of compensation and benefits to employees.

Driving performance through Compensation and Benefits

Compensation and Benefits system based on both the employees and the company's needs;
Job evaluation and grading;
Activity: Distinguish and choose between a variable, a diverse and a fixed system.