Solomon People Solutions

Compensation Development Training

Compensation Development  Training from Solomon People Solutions allow you to follow systematic approach to providing monetary value to employees in exchange for work performed 

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Medium of Instruction: English
Duration of the program: 16 hours

Description

  • Understand the Need & Benefits of Compensation
  • Understand the importance & influence of Job Analysis
  • Learn the methods of Job Evaluation, Job Grading and Job Ranking
  • Understand the benchmarking process & conducting Salary Surveys
  • Developing Salary Structures, Incentive & Benefit plans
  • Understand the role of HR in Compensation Administration
  • Understand the complete gamut of Compensation Module & to implement it as in HR system
Who Should Attend this program?

Managers & Professionals in HR , Finance & Accounts having  the  responsibility of Fixing Salaries to new employees and those handling compensation related issues & incentive plans.

Program Outline

Compensation

  • Need & Benefit
  • Factors influencing compensation
  • Syndicate Exercise

Job Analysis

  • Job Description
  • Job Specification
  • Importance & Influence

Job Evaluation

  • Need & Methods
  • Job Grading & Ranking

Salary Survey

  • Methods & Benchmarking

Salary & Benefits

  • Structure, Rationale & Components

Salary Fitment & Placement

  • Challenges & Effects

Incentive Plans

  • Functional Aspects
  • Varieties
  • Merits & Demerits

Compensation Administration

  • Salary & Benefits
  • HR Role
  • Do’s & Don’ts

HRIS – Compensation Module

  • Plan & Implementation

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    Here is what some of the previous participants of this program had to say:

    “We learnt a lot of new techniques which will help us to implement in our organisation”

    “It was brought across to us in a such a way that we have go back and implement”

    Beginning of the program:

    Each participant has to fill in a pre-training need form to ascertain their expectations that can be catered to by the facilitator.

    At the end  of the program

    Each participant has to submit a Post Training Action plan for implementation and to ascertain the Return on Investment.