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Compensation and Benefits

Compensation and Benefits

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 its 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.

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Overview
Course Methodology

The course will use a combination of theory and practical applications of course concepts. Participants will engage in simulation exercises that will emulate real life situations allowing them to gain a strong understanding of the concepts covered.

Course Objectives

By the end of the course, participants will be able to:

  • Explain the basic principles and major elements of compensation
  • Apply the various processes in compensation: job analysis, job descriptions and job evaluation
  • Explain what constitutes a sound and effective compensation and benefits program
  • Design a salary structure and related policies
  • Describe the basic compensation survey process
Target Audience

Professionals working in the function who wish to acquire relevant knowledge and skills, and those working in other areas of human resources as administrators, officers, specialists, team leaders, managers and business partners who wish to broaden their understanding of this important function.

Target Competencies
  • Deciding and initiating action
  • Working with people
  • Relating and networking
  • Presenting and communicating
  • Analytical thinking
  • Applying expertise and technology
  • Formulating concepts and strategies
  • Following instructions and procedures
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
Associations
Associations
Society for Human Resource Management (SHRM)

Meirc is recognized by the Society for Human Resources Management (SHRM) as a Recertification Provider. This recognition implies that participants who attend any of the SHRM approved programs delivered by Meirc Training & Consulting will earn a number of Professional Development Credits (PDCs) which will help them maintain their certification in SHRM-CP or SHRM-SCP.

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Schedule & Fees
Per participant - 2022

USD 4900

Fees + VAT as applicable

Tax Registration Number: 100239834300003

(including coffee breaks and a buffet lunch daily)

Discount Plans & Cancellations Policy
meirc training courses

2022 - Location & Date

23 - 27 Oct, 2022
Dubai
English
Venue to be assigned

Meirc reserves the right to alter dates, content, venue, trainer, and to offer courses in an integrated virtual learning (IVL) format whereby face to face classroom participants and virtual learners participate simultaneously in the same course in an interactive learning experience.

Virtual Learning

This course is also offered in Virtual Learning, click on the course below.

Compensation and Benefits - Virtual Learning
Meirc Online Learning Solutions
Compensation and Benefits - Virtual Learning
23 - 27 Oct, 2022
English
Virtual Learning
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