Master Compensation & Benefits: Boost Retention & Attraction

Learn to design competitive pay structures, bonus systems, and benefit programs to attract and retain top talent

What you'll learn

Understand the fundamentals of compensation, salary ranges, and market alignment

Develop effective bonus systems with ready-made formulas and criteria

Design and manage comprehensive employee benefits programs

Conduct compensation and benefits analyses to optimize HR strategies

Requirements

No prior experience is required; this course is suitable for HR professionals, managers, and anyone interested in mastering compensation and benefits.

Description

The “Compensation & Benefits” course at Mike Pritula Academy is designed to equip HR professionals and company managers with the skills to effectively manage salaries, incentives, and benefits, making their organizations attractive employers in the labor market.What You’ll Learn:• Foundations of Compensation: Understand what companies pay employees for, explore fixed pay options, and learn the role of salary ranges.• Job Analysis and Evaluation: Learn methods for job analysis, creating job descriptions, and identifying factors for rewards.• Job Grading and Pay Structures: Master the essence of grading jobs, setting up grading systems, and linking grades with market data.• Designing Reward Systems: Explore types of incentives, criteria for awarding them, and develop systems with ready-made formulas.• Benefits System Development: Understand the role of benefits, types available, budgeting, and flexible benefits like the Cafeteria plan.• Salary Market Reviews and Budgeting: Learn how to participate in labor market reviews, work with review outcomes, and budget for payroll and benefits.• Compensation and Benefits Analysis: Analyze compensation and benefits, conduct surveys, and evaluate program effectiveness.• Recognition and Referral Programs: Develop achievement recognition programs, referral incentives, and other reward types.Course Program:1. Basics of Compensation:• What companies pay employees for.• Fixed pay options.• The role of salary ranges.• How companies navigate the market.2. Job Analysis for Evaluation and Reward Development:• Importance of job analysis.• Job analysis methods.• Creating job descriptions.• Identifying factors for rewards.3. Job Grading and Pay Structure:• Essence of job grading.• Ready-made grading tools.• Setting up grading systems.• Linking grades with market data.4. Designing a Company’s Reward System:• Types of rewards.• Criteria for awarding incentives.• Developing a reward system.• Ready-made formulas for staff incentives.5. Building a System of Benefits:• Role of benefits.• Types of benefits.• Benefit budgeting and analysis.• Flexible benefits (Cafeteria plan).6. Salary Market Reviews, Payroll, and Benefit Budgeting:• Participating in labor market reviews.• Quality review providers.• Working with review outcomes.7. Analysis of Compensation and Benefits, Conducting Surveys:• Analyzing compensation and benefits.• Useful surveys.• Evaluating program effectiveness.8. Achievement Recognition Programs, Referral Rewards, and Other Types:• Recognition of achievements.• Referral incentives.• Job entry rewards.• Retention rewards.• Other types of incentives.Course Features:• Expert Instruction: Learn from Mike Pritula, a seasoned HR leader with over 15 years of experience.• Flexible Learning: Access eight recorded lessons at your own pace, with one lesson released per week.• Practical Application: Complete homework assignments with personalized feedback to reinforce learning.• Interactive Community: Join a dedicated Telegram chat to discuss cases and share experiences with peers.• Certification: Receive a diploma upon successful completion of the course, enhancing your professional credentials.Who Should Enroll:• HR Professionals: Individuals seeking to enhance their skills in managing compensation and benefits effectively.• C&B Specialists: Professionals aiming to deepen their expertise in compensation structures and benefit programs.• Company Managers: Leaders who want to manage salaries, incentives, and benefits effectively to attract and retain talent.By mastering compensation and benefits management, you can make your company an irresistible employer in the labor market. Enroll now to transform your approach to employee remuneration and drive organizational success.

Overview

Section 1: Mastering Compensation and Benefits

Lecture 1 Basics of Compensation. Modern research

Lecture 2 Job analysis for evaluation and development of incentives

Lecture 3 Job grading and pay structure

Lecture 4 Designing a company's incentive system

Lecture 5 Building a system of benefits

Lecture 6 Salary market reviews

Lecture 7 Payroll and benefit budgeting

Lecture 8 Analysis of Compensation and Benefits, conducting surveys

Lecture 9 Achievement recognition programmes, Referral payment and other types

This course is for HR professionals, compensation and benefits specialists, and managers seeking to design competitive pay structures, bonus systems, and benefit programs to attract and retain top talent.