Solomon People Solutions

Compensation Management

Compensation Management from Solomon People Solutions allows you to attract, engage, and retain top talent through competitive compensation plans that align with the company budget, corresponding job market, and government regulations.

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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.