Training overview
Professional Course
Virtual Classroom
5 days

Start dates
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Course description

Compensation and Benefits

During this course you will explore and learn:

  • Various methods for determining effective employee remuneration
  • How to establish efficient system of matching total employees’ compensation with their work output
  • Applying multiple job assessment and performance management techniques
  • Realistic salary adjustment schemes in accordance with the individual performance, and national as well as international macroeconomic and microeconomic factors
  • Innovative ways to compensate an employee
  • Establish items in the remuneration structure in a way that takes into account both external and internal perspectives
  • To master the different components of social security benefits and its’ impact on the total remuneration package
  • Acquaintance with the most important acts and regulations related to compensation
  • Acknowledge key components of compensation regulations

Who should attend?

»» HR managers»» Payroll officers»» Compensations and benefits analysts»» HR administrators»» HR officers with regulatory compliance responsibilities

Training content

DAY 1Total Rewards: Financial and Non-Financial & The Wage-level Decision»» Strategic Objectives of Compensation.»» Ethical Consideration in Compensation.»» Compensation within Different Labor Markets.»» Determinants of Pay.»» Three Wage Decisions.»» Establishing the Wage Level.»» Factors Influencing the Wage-level Decision.»» Wage Survey.»» Survey Methods.

DAY 2Job Evaluation Methods & Job Pricing and Pay Rate Administration»» Ranking Methods.»» Classification/Grading and Methods.»» Point Method.»» Factor Comparison Method.»» Guide Chart-Profile Method (Hay method)»» Pay Grade and Pay Ranges.»» Red-circle Job Rates.»» Adjustments for Inflation»» Adjustment for Economic Declines.»» Individual Pay Rate Determination.»» Reflecting Geographic Influences in Pay Structures.»» Establishing Administrative Controls.

DAY 3Economic Factors Affecting Compensation, Incentive Compensation & Executive Compensation»» Inflation and Interest Rates.»» Industry Competition and Foreign Competition.»» Economic Growth and Demographic Trends.»» Money and Motivation Theories.»» Individual Incentives.»» Skills and Knowledge Based Pay.»» Differential Pay.»» Group and Team Incentives.»» Organization-wide Programs: Profit Sharing and Gainsharing.»» Employee Stock Ownership Plans.»» Strategic Alignment of Base Pay and Incentive Pay.»» Salaries and Executive Bonus Plans.»» Stock Options.»» Nonqualified Deferred Compensation (NQDC).»» Nonfinancial Rewards and Director Pay.

DAY 4Employee Benefit Programs, Health Care Benefits & Managing Employee Benefit Programs»» Social Security.»» Workers’ and Unemployment Compensation.»» Pension.»» Health and Accident Insurance.»» Income Replacement.»» Employee Services & Pay for Time Not Worked.»» Recognition and Achievement Awards.»» Managed Health Care.»» Consumer – directed Health Care.»» History of Benefits, Employee Benefits Philosophy, Planning and Strategy.»» Employee Preference Assessment: Survey.»» Cost-Benefit Analysis and Cost Management.»» Legal Compliance of Benefits Programs.»» Communicating Benefit Programs.

DAY 5Compensation Laws and Regulations, Evaluating Total Compensation Strategy and Program Effectiveness & International HR Compensation Issues»» Davis-Bacon Act, Copeland Act and Anti-Kickback Law, Walsh-Helaey Act.»» Fair Labor Standards Act (1938) as amended, Equal Pay Act (1963), Pregnancy»» Discrimination in Employment Act (1978), Family and Medical Leave Act.»» Health Insurance Portability and Accountability Act (HIPAA) 1996, Patient Protection and.»» Affordable Care Act (PPACA) 2010.»» Small Business Job Protection Act (SBJPA) 1996, Wage Garnishment (1968), Employee»» Retirement Income Security Act (ERISA) 1974.»» COBRA (Consolidated Omnibus Budget Reconciliation Act (1990)); Omnibus Budget»» Reconciliation Act (1993).»» Bankruptcy Protection.»» FASB Regulations and IRS Regulations.»» Budgeting.»» Assessment of Methods and Processes.»» Expatriate Pay and Allowances.»» Compensation and Benefits for Foreign National and Expatriates.»» Qualitative Research.»» Selection of Expatriates

Why choose Leoron?

LEORON has worked with some of the largest companies in the World - but importantly we care about the individual. Through our Customer Happiness Team we ensure that everyone who attends a LEORON course has the support before, during and after to ensure their training needs are met.

We offer the highest level of training delivery, whether that be in our live-virtual training or in-classroom sessions, with our expert instructors guiding you through everything so that you’re left feeling assured and confident to utilize your new knowledge going forward.

About Leoron

LEORON Professional Development Institute

LEORON is the fastest growing global training institute in the World, having evolved over the past 11 years into a dominant training institute that offers a comprehensive set of training and development solutions to both individuals and businesses. Our locations...

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LEORON Professional Development Institute


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