McTimothy Associates

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Effective Compensation, Payroll Planning & Total Benefits Management

Why Attend

In this course, you will learn about the only part of human resources that works behind the scenes. Compensation and benefits is usually a function that professionals in the field typically avoid for their seemingly complex nature and dependency on mathematics. When you attend this course, you will change your mind about this HR specialty. We will explain the specifics of compensation and benefits in such a way that you be able to apply them easily at work.

$ 173.18

Event Date: 13/02/2023 – 15/02/2023

Total:

Course Outline

  • Managing compensation: an overview
    • Compensation objectives
    • Components and factors affecting compensation
    • Effective compensation management system
  • Job analysis and job descriptions
    • The need for job descriptions
    • Principal approaches to job analysis
    • Carrying out the job analysis process
    • Conducting a proper job analysis interview
    • The main components of a Meirc job description
    • Writing job descriptions
      • Practical applications
  • Job evaluation
    • Defining ‘job evaluation’
    • Job evaluation methods
    • The Meirc system explained
    • The Hay system: an overview
    • Job evaluation guidelines
    • Sources of error
    • Practical job evaluation applications
  • Compensation systems
    • Main compensation policies
    • Factors affecting pay levels
    • Paying for competence
    • Basic salary structures
    • Salary structure design
    • The right number of grades
    • Spread and progression
    • Building a salary structure
  • Allowances and benefits
    • Allowances as part of total pay
      • Purpose of allowances
      • Nature of work allowances
      • Non nature of work allowances
      • Regional practices
    • Understanding benefits
      • Definition and purpose of benefits
      • Categories of benefits
      • Regional practices
      • Managing an effective benefits program
      • Main features of a long-term benefit plan
      • Conducting a benefits package assessment
  • Introduction to compensation surveys
    • Purpose of surveys
    • Designing and carrying out a compensation survey
    • Compensation survey reports

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