Certificate in Compensation Management (CCM)

Attracting employees and retaining the good ones can largely be traced to how well compensation and benefits are managed and administered. Good compensation and benefits administration is more than ensuring internal and external consistency of salaries and wages. This course will help the students understand the importance of compensation as a major concern of management. This will also provide knowledge on the different factors involved in compensation and what job evaluation is and its various methods.

OBJECTIVES:

• To provide the students with tools and techniques in identifying the various processes involve in attracting and retaining well-qualified individuals through effective compensation management.
• To give the students opportunities to practice their newly learned skills of developing company philosophy on compensation, analyzing jobs, developing effective job rating plans, conducting salary surveys, designing salary structures, developing fringe benefits and other reward programs, administering salary increases and identifying executive reward strategies.

CONTENT

Module 1: Compensation Management Overview

Module 2: Job Analysis

1.1 Methods of Job Analysis
1.2 Sources of Job Information
1.3 Job Data Analysis

Module 3: Job Description

Module 4: Methods of Job Evaluation

4.1 Qualitative Methods
4.2 Quantitative Methods

Module 5: Point Rating Plan

5.1 Customizing the Design of Point Rating Plan
5.2 Selection of Job Factors
5.3 Assignment of Point Values
5.4 Validation Process

Module 6: Job Rating Process

6.1 Formation of JE Committee
6.2 Organization Chart of JE Committee
6.3 Roles and Functions of JE Committee
6.4 Job Rating

Module 7: Job Classification

7.1 Development of Internal Job Hierarchies
7.2 Validation of Internal Job Hierarchies into Job Grades
7.3 Job Mapping

Module 8: Salary Market Data

8.1 Market Pricing Policy and Labor Market Principles
8.2 Linking Compensation Philosophy to Salary Market Pricing
8.3 Defining the Salary Market
8.4 Services of Salary Market Data
8.5 Analyzing Market Data

Module 9: Development of Market Pay Lines

9.1 Definition
9.2 Calculation of Pay Lines
9.3 Movement of Pay Lines in Relation to the Labor Market

Module 10: Designing Salary Structure

10.1 Number of Structures
10.2 Types of Structure
10.3 Types of Salary Range
10.4 Construction of Salary Ranges
10.5 Steps in Developing Salary Structure

Module 11: Compensation Planning and Administration

11.1 Linking Performance Management to Compensation
11.2 Review of Basic Economic Indicators
11.3 Types of Salary Increases
11.4 Special Increases
11.5 Salary Management Process
11.6 Development of Compensation Policy and Procedures

Module 12: Benefits Planning and Administration

12.1 Benefits and Welfare Management Overview
12.2 Benefits and Welfare Programs
12.3 Determination of Needs
12.4 Conduction Benefits Survey
12.5 Analyzing Benefits Survey Results
12.6 Benefits Costing
12.7 Developing Benefits Proposals
12.8 Benefits Administration
12.9 Communication Program

Module 13: Legal Aspects of Compensation

13.1 Labor Code
13.2 CTRP
13.3 CBA Implications

Module 14: Strategic Pay and Reward Platforms

14.1 Variable Pay Program
14.2 Skill/Knowledge-Based Plans
14.3 Pay for Competencies
14.4 Broad Banding
14.5 Team-Based

Module 15: Executive Compensation Program