Compensation and Benefits Management Course


Course Cover

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We are proud to offer this course in a variety of training formats to suit your needs. We use the highest quality learning facilities to make sure your experience is as comfortable as possible. Our face to face calendar allows you to choose any classroom course of your choice to be delivered at any venue of your choice - offering you the ultimate in convenience and value for money.


June 2024

Code Date Duration Location Fee Action
CBM025 24 Jun 2024 - 28 Jun 2024 5 days Cape Town, South Africa $2,400 Register
CBM025 24 Jun 2024 - 28 Jun 2024 5 days Nairobi, Kenya KES 83,000 | $1,100 Register
I Want To See More Dates...

Unfortunately, we do not have any dates scheduled at this time. Do you have a date in mind when you would like to take your training?

Request Custom Schedule

Contact Us on (+254) 715 077 817 / (+254) 792 516 000 or email us [email protected].

June 2024

Date
Duration
Location
Fee
Action
24 Jun - 28 Jun 2024
5 days
Cape Town
$2,400
24 Jun - 28 Jun 2024
5 days
Nairobi
KES 83,000 $1,100
I Want To See More Dates...

Unfortunately, we do not have any dates scheduled at this time. Do you have a date in mind when you would like to take your training?

Request Custom Schedule

Contact Us on (+254) 715 077 817 / (+254) 792 516 000 or email us [email protected].


Introduction

Compensation management plays a vital role in any organization. The team must ensure the salaries and the benefits provided to the employees are appropriate, competitive and just. The monetary and non-monetary perks incorporated in the package must resonate with employees’ perception of fair pay.

This IRES training course will empower you to understand the components of compensation and benefits management and how to design an attractive package and retain the best talent in the market.

Duration

5 Days

Who Should Attend

Payroll Specialists, Payroll Leaders and Managers, Recruitment and HR personnel, Independent HR experts, Independent Recruiters and consultants


Course Level:

Course Objectives

At the end of this IRES training course, participants will learn:

  • Define what is Compensation and benefits?
  • Explain the importance of Compensation and benefits to attract and retain the right talent
  • Understand the components of Compensation and benefits management
  • Strike the right balance between fixed and variable pay for each role/ job
  • Compensate fairly for the level of experience, technical expertise, competencies that individuals bring to the table
  • Develop skills to effectively design employee package to achieve win-win for both employer and the employees
  • Successfully manage to retain the best talent in the competitive market
  • Reward desired behavior for present and future occurrence
  • Assess and restrain any discrimination basis gender, diversity, region, and religion
  • Effectively plan and flex benefits like dearness allowance, etc., considering the location and other factors
  • Devise packages in complying with legal regulations
  • Keep surplus/ anticipate the exigencies that might occur or any contingencies

Course Outline

Module 1: Introduction to Compensation and Benefits Management

  • What is Compensation and benefits management?
  • Benefits of Compensation and benefits
  • Basic principles of Compensation and benefits management
  • Difference between compensation and benefits
  • Designing the compensation and benefits plan

Module 2: Components of Compensation

  • Basic salary
  • Allowances (dearness allowance, house rent, transport, etc)
  • Incentives and bonuses
  • Benefits/Perquisites
  • Customisable, ready to use templates

Module 3: Components of Benefits

  • Retirement contribution plans
  • Outings and vacations
  • Sharing profits – shares, RSUs etc.- depends on the company
  • Relocating bonuses
  • Special day offs
  • Healthcare benefits
  • Travel and meal reimbursement
  • Maternity and sick leave
  • Other facilities

Module 4: Calculating Compensation

  • Evaluating the current market
  • Assessing the possibility of growth
  • Setting a compensation benchmark
  • Revisiting and revising packages to match the market standards – to become and remain the employer of choice
  • Basic considerations
  • Compensation Ratio

Module 5: Evaluating Compensation

  • Performance-based
  • Skills and experience of the candidate
  • Competency-based compensation
  • Last or current salary
  • Job description, tenure, qualification
  • Paying full-time Vs. contract employees

Module 6: Computable Tools of Compensation

  • Payroll management system
  • Determining incentives and benefits
  • Budget management
  • Hikes and promotions
  • Direct Compensation (Salary and rewards)
  • Indirect compensation (Recognition, Career development)

Module 7: Market Benchmarking

  • Identifying the pay policies
  • Assessing the market quantitative and qualitatively
  • Comparing Jobs in the market
  • Assess the pay practices of competitors

Module 8: Legal Regulations

  • Income tax
  • Various tax implication
  • Prevailing wage law
  • Service contract

Related Courses


Course Administration Details:

METHODOLOGY

The instructor led trainings are delivered using a blended learning approach and comprise of presentations, guided sessions of practical exercise, web-based tutorials and group work. Our facilitators are seasoned industry experts with years of experience, working as professional and trainers in these fields.

All facilitation and course materials will be offered in English. The participants should be reasonably proficient in English.

ACCREDITATION

Upon successful completion of this training, participants will be issued with an Indepth Research Institute (IRES) certificate certified by the National Industrial Training Authority (NITA).

TRAINING VENUE

The training will be held at IRES Training Centre. The course fee covers the course tuition, training materials, two break refreshments and lunch.

All participants will additionally cater for their, travel expenses, visa application, insurance, and other personal expenses.

ACCOMMODATION AND AIRPORT PICKUP

Accommodation and airport pickup are arranged upon request. For reservations contact the Training Officer.

Email:[email protected]/[email protected]

Mob: +254 715 077 817/+250789621067

TAILOR- MADE

This training can also be customized to suit the needs of your institution upon request. You can have it delivered in our IRES Training Centre or at a convenient location.

For further inquiries, please contact us on Tel: +254 715 077 817/+250789621067

Mob: +254 792516000+254 792516010 , +250 789621067 ,or mail [email protected]/[email protected]

PAYMENT

Payment should be transferred to IRES account through bank on or before start of the course.

Send proof of payment to [email protected]/[email protected]


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