CHRP 007 Compensation and Reward Management

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About Course

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UNIT DESCRIPTION

This unit seeks to provide the learner with knowledge of employee compensation and rewards required by human resource professionals in both public and private sector organizations. It equips the certified human resource professional with competence to evaluate the various compensation, reward and incentive systems, apply the concept of total compensation and reward policy, develop  and implement compensation strategies ,evaluate the various  employee benefits  and pension schemes,  develop and implement  a reward system for special groups, administer salary and rewards, link performance and rewards, conduct job evaluation , job grading , market rates analysis and salary survey, tax planning ,apply the legal framework  on compensation and rewards  and identify emerging issues and and trends in compensation and reward systems.    

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What Will You Learn?

  • Leadership as an aspect of behavior in an organization.
  • Role of groups and teams for effective organization performance.
  • Effective management of change and organization culture

Course Content

COMPENSATION REWARD AND INCENTIVE SYSTEMS
Introduction to Compensation Reward and Incentive Systems Distinction between Compensation Reward and Incentive Systems Objectives of Compensation reward and Incentive Programs Designing and Managing Compensation Reward and Incentive programs Types of Compensation reward and Incentives Benefits and Challenges of Compensation Reward and Incentive Systems Overcoming the challenges of Compensation Reward and Incentive Systems

  • Introduction to Compensation , Reward and Incentive Systems
    06:58
  • Distinction between Compensation Reward and Incentive Systems
    06:26
  • Objectives of Compensation Reward and Incentive Programs
    00:00
  • Designing and Managing Compensation Reward and Incentive programs
    00:00
  • Types of Compensation Reward and Incentives
    00:00
  • Benefits and Challenges of Compensation Reward and Incentive Systems
    00:00
  • Overcoming the challenges of Compensation Reward and Incentive Systems
    00:00

TOTAL COMPENSATION AND REWARD POLICY
Introduction to Total Compensation and Reward Concepts and Elements of Compensation Types of Compensation Compensation Policy Benefits and Challenges of Compensation Policy

COMPENSATION STRATEGIES
Introduction to Compensation Strategies Performance based Strategy Compensation and Pay Equity Determinants of Performance Based Pay Merits and Demerits of Performance Based Pay Developing a Compensation Strategy System Compensation Documentation Gross Pay and Net Pay Compensation Categories Incentives Team Pay Bonus Schemes Profit Sharing Schemes Recognition Schemes

EMPLOYEE BENEFITS AND PENSION SCHEMES
Types of Employee Benefits and Pension Schemes Employee Benefits Policy Employee Benefits Administration Flexible Benefits Retirement Benefits Schemes- Types and Legal Framework

REWARDING SPECIAL GROUPS
Rewarding Directors and Senior executives Rewarding Sales and Customer Care Staff Rewarding the Knowledge Worker Rewarding Expatriates

SALARY AND REWARDS ADMINISTRATION
Introduction to Salary and Rewards Administration Preparation of Salary Budgets General and individual Salary Reviews Determining Salary Levels on Joining or Promotion Instituting Salary Controls

PERFORMANCE MANAGEMENT
Introduction to Performance Management Importance of Performance Management Relationship between Compensation and Rewards Linking Compensation and Reward to Performance Employee Performance , Compensation and Reward Metrics Performance Appraisal Factors of Performance Management Benefits and Challenges in Performance Management Employee Experience in Performance Management Process Employee Analytics Individualized Employee Support Strategies for work Teams Innovation and Productivity Rethinking Job Roles Duties Responsibilities and Accountability for Results Emerging issues in Performance Management

JOB EVALUATION, GRADING AND EQUITY IN THE PAY STRUCTURE.
Introduction to Job Evaluation Objectives of Job Evaluation Job Evaluation Methods Components of Job Evaluation Types of Job Evaluation Job Evaluation Steering Teams Job Evaluation Process Job Grading Equal Pay and Human Rights Determinants of Job Grading Compensable Factors in Job Evaluation Determinants of Pay Equity Benefits and Challenges of Job Evaluation Overcoming Challenges of Job Evaluation

MARKET RATES ANALYSIS AND SALARY SURVEY
Introduction to Market rate Analysis The Concept of a Market rate Objectives of Market rate Analysis Factors Affecting the Validity and Reliability of Market rate Data Job Matching Sources of Data Using Survey Data Objectives of Salary Survey Types of Salary Surveys Types of Data Gathered Salary Survey Strategy

TAX PLANNING
Introduction to Tax Planning Corporate and Individual Tax Planning Tax Planning Strategies Categories of Taxes Tax Computation

LEGAL FRAMEWORK ON COMPENSATION AND REWARD
The Constitution Legislation on Minimum Wage Regulatory Framework on Compensation and Reward Management in the Public Sector Employment Act 2007 ILO Conventions

EMERGING ISSUES AND TRENDS IN COMPENSATION & REWARD SYSTEMS AND THEIR ICT APPLICATIONS
Employee Experience Remunerating Millennials Managing Productivity and Rewards for Staff Working from Home

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