Dynamics of Compensation & Benefits

Created by LEC Team
Last updated Mon, 27-Mar-2023
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By attending this course, you will transform your mind about this human resources speciality. You will undoubtedly discover a technique that is understandable and also clarifies the specifics of settlement as well as benefits. This technique will also help you use the principles of compensation and advantages almost at work.

Course Objectives of Compensation & Perks


  • Specify and also demonstrate an understanding of the importance of compensation to the total aims of personnel administration
  • Style a thorough payment system
  • Detail the benefits of job examination as well as pick an ideal system for own organization
  • Examine as well as supply advice on regional compensation practices
  • State the principal action in a settlement survey as well as answer concerns connecting to the criticality of job matching to the success of any compensation study


Day 1
Managing Compensation: An Overview

  • Compensation objectives

  • Total compensation

  • Direct and indirect compensation

  • Balancing compensation components

  • Equitable, value-adding, a competitive and motivating compensation

  • Internal consistency

  • External consistency

  • The hierarchy of needs and compensation



Day 2
Job Analysis & Job Descriptions

  • Uses of job descriptions

  • Job analysis explained

  • Carrying out the job analysis process

  • Conducting a proper job analysis interview

  • Explaining a typical job description

  • Job analysis: a summary



Day 3
Job Evaluation

  • Definition of job evaluation

  • Job evaluation systems

  • Introduction to the Hay system

  • Job grading

  • Sources of error in the job evaluation process



Day 4
Compensation Systems

  • Objectives of compensation

  • Decisions to take

  • Designing base salary structures

  • Allowances to offer

  • The structuring of benefits’ programs

  • Important considerations in compensation

  • Managing your compensation programs



Day 5
Competitive Compensation
  • Staying competitive

  • Designing and carrying out compensation surveys

  • Four basic survey methods

  • Data requirements

  • Issues related to the implementation of change

Performance-based Rewards

  • The definition of Performance Management (PM)

  • Objectives of performance management

  • Current and prevailing PM systems

  • Rewarding performance

  • Rewarding the right behaviors and results

  • Key Performance Indicators (KPIs)


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