Certified Compensation and Benefits Management Professional (CBMP)

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Why Attend

Rationale

‘Compensation and benefits’ is the part of human resources that works behind the scenes. It is usually the specialization in human resources that professionals in the field typically avoid for its seemingly complex nature and dependency on mathematics. By attending this course, you will change your mind about this HR specialty. You will learn an approach that is easy to understand and which explains the specifics of compensation and benefits. This approach will also help you in applying the principles of compensation and benefits practically at work.

In this certified course, participants will demonstrate the knowledge they gained by taking an examination at the end of the course.

Event Date: 12/04/2023 – 14/04/2023

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Overview
Course Outline

Course Outline

Managing compensation: an overview
- Compensation objectives
- Total compensation
- Direct and indirect compensation
- Balancing compensation components
- Equitable, value-adding, competitive and motivating compensation
- Internal consistency
- External consistency
- The hierarchy of needs and compensation
Job analysis and 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
Job evaluation
- Definition of job evaluation
- Job evaluation systems
- Introduction to the Meirc system
- The Meirc job evaluation system explained
- Introduction to the Hay system
- Job grading
- Sources of error in the job evaluation process
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
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)