Course Overview

Compensation and benefits play a crucial role in attracting, motivating, and retaining top talent. This course provides participants with a strong foundation in the principles and practices of designing fair, competitive, and strategic reward systems.

Learners will explore core components of compensation (base pay, variable pay, incentives) and benefits programs (healthcare, retirement, wellness, and perks). The course also examines the legal, ethical, and equity considerations that shape compensation decisions, as well as global trends in rewards management and participants will gain the skills to analyze jobs, conduct salary benchmarking, and design compensation and benefits packages that support organizational goals and employee satisfaction.

Course Objective

By the end of this course, participants will be able to:

• Explain the fundamentals of compensation and benefits systems.
• Conduct job evaluation and salary benchmarking.
• Differentiate between fixed pay, variable pay, and incentives.
• Design employee benefits programs that enhance engagement and retention.
• Apply principles of fairness, compliance, and equity in rewards management.

Course Curriculum Breakdown  

Module 1 – Introduction to Compensation and Benefits

• Purpose and importance of compensation and benefits
• Total rewards framework (compensation, benefits, recognition, development)
• Strategic role of compensation in talent management

Module 2 – Job Evaluation and Pay Structures

• Job analysis, evaluation, and classification methods
• Internal equity vs. external competitiveness
• Developing salary structures and pay grades
• Designing pay structures that balance equity and competitiveness

Module 3 – Variable Pay, Incentives, and Benefits Programs

• Types of variable pay: bonuses, commissions, profit-sharing
• Employee benefits: health, retirement, wellness, and perks
• Trends in benefits (flexible benefits, remote work perks, mental health support)
• Designing an incentive plan for a sales team

Module 4 – Compliance, Fairness, and Global Trends

• Legal and regulatory aspects of compensation
• Pay equity, transparency, and ethical considerations
• Compensation in a global workforce (local vs. expatriate packages)
• Explore how multinational companies design expat packages

Extras and Takeaways

• Salary benchmarking toolkit
• Practical rewards strategy toolkit
• Sample pay structure models
• Certificate of Completion

Who should take this course

• Aspiring HR Professionals
• Early level HR Professionals
• HR professionals and business partners
• Total Rewards Manager
• Compensation and Benefits professionals
• Managers, Team Leads
• Business Owners