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Compensation Management & Administrationin HR (Introduction)

The term “compensation”, as a substitute word for wages and salaries, is of recent origin. Compensation management strives for internal and external equity. Internal equity requires that pay be related to the relative worth of a job so that similar jobs get similar pay, while external equity means paying workers what other firms in the labour market pay comparable workers. This online course teaches the best practices, concept, technique, strategy, planning and strategic compensation management.

  • 2500
  • 15000
  • Course Includes
  • 1.20 Hour Video Class
  • Free Certificate of Completion
  • 1-Year Access

Enrol and get access to the full course.

What you will learn

  • Economic Theories and Compensation Management
  • Compensation Management and Job Design
  • Performance Related Compensation
  • Negotiation in Compensation
  • Attrition and Compensation Management
  • Executive Compensation
  • Sales Compensation Plan
  • Strategic Compensation Management
  • Quantitative Tools and Innovation in Compensation
  • International Compensation Management

Requirements

  • This course is suitable for practising HR professionals who desire to understand the fundamentals of compensation management.

Description

Compensation management is the process of managing, analyzing, and determining the salary, incentives, and benefits for the various employees. The Compensation managers attract, retain, and engage employees by offering broad and competitive compensation plans within the company budget.

Compensation management as a concept strives for internal and external equity. Internal equity requires that pay be related to the relative worth of a job so that similar jobs get similar pay, while external equity means paying workers what other firms in the labour market pay comparable workers.

This online course teaches the best practices, concept, technique, strategy, planning and strategic compensation management.

Course Content

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Compensation Management Introduction
preview 3min
Introduction to Compensation Management
7min