Why should I take Compensation and Benefits Manager certification?

This course covers the principal need of the organization which is establishing and maintaining a pay system which is fair to all. Learn how to attract, retain, and motivate people for your business to succeed & how to build pay strategy, salary structure, short-term & long-term incentives, and benefits that are aligned to your business objectives. This course will also give an overview of key technical skills which will help you in designing incentive plans & non-monetary methods of motivating employees.

Learn & Study

Job Design
Performance Based Compensation
Executive, Sales & Team Based Compensation
Employee Motivation
Quantitative Tools
International Compensation Management

How will I benefit from Compensation and Benefits Manager certification?

Vskills Certification in Compensation and benefits assesses the candidate in various areas which include methods to ensure fair and equitable pay, conducting surveys to compare their compensation systems with other companies and ensuring that the firm’s pay scale complies with changing laws and regulations. An important part of the Compensation and benefits manager’s role is performance evaluation. This area also forms the part of the assessment.

Companies that hire Certified Compensation and Benefits Manager

Vskills Certified Compensation & Benefits Manager finds employment in various companies like Adecco, Mercer India, TeamLease Services Limited, Bajaj Capital Limited, Ikya Human Capital Solutions, ABC Consultants, Ma Foi Randstand.

Apply for Compensation and Benefits Certification

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TABLE OF CONTENT

Introduction

Objectives of compensation management
Principles of compensation formulation
Types of wages and wage policies
Procedure and practices for wage determination
Compensation decisions
Compensation benchmarking
Compensation trends and practices in India

Economic Theories

Economic theories in compensation management
Employee compensation valuation
ESOPs and its pricing
Equity in employee benefits
Labour Markets and Trade Unions

Job design

Job Design
Job Analysis
Job Description
Job Evaluation and Assessment
Work Measurement
Management and Ergonomics

Performance-based compensation

Performance Management System (PMS)
Objectives and indicator of performance
Developing performance standards
Performance modeling techniques
Performance dimensions and performance observation scales
Competency-based pay

Team-based compensation

Employee evaluation system
Group incentive plans
Gain-sharing plan
Designing team-based compensation
Issue in rewarding teams

Executive Compensation

Theories and practices of executive compensation
Components and design of executive compensation
Factors affecting executive compensation
Executive compensation criteria
Techniques of performance measurement
Organizational strategies

Employee Motivation and benefits

Motivation and morale
Theories of employee motivation
Objectives of employee motivation
Types of employee benefits
Tax obligations
Statutory employee benefits in India
Employee benefits alternatives
Non-monetary benefits
Deferred compensation plan

Sales Compensation

Sales functions
Sales compensation plans and issues
Sales compensation design and administration
Sales incentives and motivation

Legal issues

Compensation and Income Tax Act, 1961
Tax implications
Wage fixation and legal interpretation

Quantitative Tools for Compensation Management

Variable Compensation plans
Retirement plans
Payroll management
Incentive determination and employee benefits
Group incentive payments
Overtime wages
Economic Value Added (EVA)
Quantitative analysis

International Compensation Management

Approaches to international compensation
Components of international compensation
Designing international compensation plans
Concept of variation
Cultural issues
Repatriation issues

Employees Provident Fund

Employees Provident Fund (EPF) Basics
EPF Features
EPF Forms
UAN
EPF Calculation and example
Online EPF Submission
EPFO Claim Status

ESI

ESI Basics
ESI Registration for Organization
ESI and Wages
ESI Contribution
Online ESI Contribution Submission

Certified Compensation and Benefits Manager

How It Works

Test Details

Benefits of Certification