Location

Community Services & Continuing Education - Alexandria

Objectives

• This course focuses on the choices that managers wish to manage compensation strategically. These choices will be understood through the guiding principles of effective compensation systems: internal alignment, external competitiveness, employee contributions, and management of the pay system. Using the Total Compensation Model, an integrated decision-making framework, this course is designed to provide an understanding of the “art and science” of creating strategic compensation and rewards systems with due regard to the legal context. Discussion and applications of recent theory, research, and practice will outline the way in which managers decide what to pay each employee.

Outcomes

After this Module , Participant will be able to : • Understand the basic concepts of compensation & benefits.• Explain the importance of total compensation system.• Identify factors that determine compensation.• Relate the effect of law and regulation on compensation and benefit practices.• Choose the most suitable pay strategies to your organization• Construct a payment model • Assess the process of job evaluation.• Create job evaluation methods.

Course Contents

-Understand the basic concepts of compensation & benefits.- Importance of total compensation System.- Factors determine compensation.-Compensation Strategy-Pay structure-Social insurance-Income -Tax- Job Evaluation Process and methods - Job evaluation methods including the point factor.-Hay Method-Salary survey and bench marking jobs salaries.-Employees’ Payroll.