You want your employees to keep working enthusiastically while remaining focused on your organisation's strategic objectives? But you are not sure of the best approach to remuneration? Compensation & benefits, or tangible reward, play an important role within the wider spectrum of remuneration.
Compensation and benefits is an emotive area, not only for the organizations but also for the employees. Establishing and managing a reward structure is one of the critical cornerstones of the human resource department. It is extremely important to design the right reward package that supports business goals.
This program helps the HR professionals understand the importance of compensation and benefits in such a way that they are able to understand the intricacies, basic reward system, the global trends in compensation and benefits and are able to link pay with a performance for better planning. By the end of this workshop participants will be able to source well structured and reasonable compensation and benefits schemes that operate effectively, provide the best value to the organization and structure remuneration schemes.
Benefits to the participants:
Develop strategically-inspired reward techniques and implement them in your company
Become familiar with practical concepts and tools to apply in remuneration schemes
Understand direct financial rewarding and employee benefits, as well as strategic embedding within the context of the organisation
Gain a detailed insight into the latest concepts in compensation & benefits
Compensation and Rewards
Development of Compensation plan
How is the Compensation planning tied and aligned to the performance planning?
Salary/ compensation structure.
Rewards and benefits plans
Competitive analysis of rewards and benefits.
Identification of compensation requirement.
How are they categorized into financial, benefits and policy-based?
Budgetary Allocation done for rewards.
Administration of rewards.
Plan & Deliver employee benefits programs
Benefits enrolment and administration.
How are Claims managed for benefits?
Reconciliation for employee benefits.
How are programs identified to manage work-life balance?
Development of employees Family support systems.
Identify and monitor retention indicators
How are compensation plans reviewed to enable retention?
Heads, Leaders, Managers, Specialists, Generalist in Talent Management and Rewards areas of HR across Sectors