By the end of this program applicants will be able to ..
1. Introduction to Compensation & Benefits (12 hrs)
• Importance of total rewards
• Objectives and philosophy of compensation
• Aligning the Compensation and Benefit Programs with Organizational Goal
• Motivation theories
• Compensation Strategies
• Organizational Life Cycle
2. Compensation Structure (18 hrs)
• Job descriptions and specifications
• Methods of job evaluation (Point Factor, Ranking, Hay, etc.)
• Internal equity and pay structures
• Market pricing and benchmarking jobs
• Salary structures (grades, bands)
• Pay ranges and control points
• Short-term incentives (bonuses, commissions)
• Long-term incentives (stock options, RSUs, performance shares)
• Sales incentive plans
• Designing incentive programs based on KPIs
3. Employee Benefits Design (18 hrs)
• Health and welfare benefits (medical, dental, Optics)
• Retirement and pension plans
• Paid Leave and Paid time off (vacation, sick leave, parental leave)
• Work-life programs and perks (wellness, EAPs, childcare)
• Life Insurance
4. Other Compensation Programs (Executive Compensation, Global Compensation and Expatriate Management) (12 hrs)
• Components of executive pay
• Equity compensation and deferred compensation
• Say-on-pay and regulatory compliance
• Board and shareholder considerations
• International compensation trends
• Global mobility and expatriate packages
5. Compensation and Benefits Issues (12 hrs)
A. Compensation Compliance and Governance
• Pay equity and transparency laws
• Audit procedures and risk management
• Compensation committees and policy governance
B. Total Rewards Strategy and Communication
• Integrating C&B with business strategy
• Communicating rewards effectively
• Total rewards statements
C. Data Analytics and Technology in Compensation
• HRIS and compensation planning tools
• Pay equity analysis and gender pay gap
• Predictive analytics and AI in compensation
6. Final Project / Case Study
• A project about a full C&B strategy for an organization will be required from the participants with a presentation.