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
- 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
