Comprehensive Strategic Human Resource Management Compensation and Payroll System

Introduction:

A well-structured compensation package plays a crucial role in attracting, retaining, and motivating top talent within an organization. The Complete Strategic Human Resource Management Compensation Package and Payroll course equips HR professionals, managers, and business leaders with a detailed understanding and practical skills necessary for effective compensation and payroll management.

This course integrates fundamental knowledge on compensation, strategic management of remuneration, performance-based pay systems, benefits administration, and payroll management.

Designing a comprehensive compensation package not only ensures equitable and competitive wages but also aligns employees' aspirations with the organization's objectives, which are vital for business success. This course emphasizes the interrelationship between compensation and broader HR and managerial strategies, focusing on developing compensation packages that support organizational strategy, enhance employee satisfaction, and meet legal requirements.

Additionally, the course covers payroll management, ensuring timely employee payments and compliance with tax and labor laws. Effective payroll management is critical for maintaining employee trust and driving productivity. This course provides insights into payroll management principles and techniques for identifying and resolving issues to meet organizational goals.

By the end of this course, participants will be able to design, implement, and manage compensation and payroll policies that enhance organizational performance, foster a positive workplace culture, and ensure compliance with relevant regulations. This course is essential for anyone looking to develop skills in HR management, particularly in the areas of compensation and payroll.

Objectives:

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

• Comprehend the main concepts regarding compensation and benefits.
• Create compensation packages that contribute to the overall objectives of the organization.
• Effectively communicate the elements of pay-for-performance systems.
• Handle the administration of employee benefits.
• Carry out payroll management in an accurate and compliant manner.
• Understand legal restrictions and regulations regarding compensation and payroll.
• Encourage compensation practices grounded in justice and equity.
• Reduce employee turnover with appropriate compensation strategies.
• Integrate budgeting and financial controls into compensation management.
• Use data for informed compensation decision-making.
• Leverage technology in the compensation and payroll process.
• Increase proactive workforce engagement through strategic remuneration.
• Improve communication regarding compensation and benefits.
• Apply negotiation and conflict resolution techniques in compensation discussions.
• Align compensation strategies with overall organizational development.

Training Methodology:

• Workshops
• Case Analysis
• Group Interaction
• Situational Learning
• Project-Based Learning
• Individual Presentations
• Group Work
• Single Assignments
• E-Learning Engagements
• Evaluations and Consultations

Course Outline:

Unit 1: Global Trends in HR Management

• Definition of VUCA World
• Workforce of the Future (Global Trends)
• Shifting Mental Models from Jobs to Roles
• Using the Business Motivation Model (BMM) to Align HR Strategy with Business Strategy
• RM End (Vision, Goals, and Objectives)
• RM Means (Vision, Mission, and Strategic Objectives)
• RM Directive (Policy Indicators)

Unit 2: Bridging the Differences Among HR Functions

• Competencies and Manpower Planning
• Competencies in Organizational Development (Job Design, Succession Planning, and Replacement Charts)
• Competencies in Job Evaluation using the Hay Group Method
• Competencies and the Flexible Workforce
• Competencies and Payroll

Unit 3: Process Audit (Making an Employee’s Journey Exceptional)

• Demystifying the Orientation Process
• Revisiting Learning & Development KPIs
• Competency Gap Assessment in S&D: Training Needs Assessment
• Ensuring Ongoing Activities Close Competency Gaps
• Establishing a Positive Organizational Culture (Introduction of New Mechanisms)

Unit 4: Rationalizing Pay Structures

• Understanding Pay Structures
• Considerations for Designing Pay Structures
• Grading Pay Structures
• Geographic Pay Differential Methods
• Job Evaluation Plans
• Job Family Structures
• Pay Grades Approaches
• Pay by Spot Rates
• Use of Pay Spine
• Unified Approach Towards Pay Structure

Unit 5: Benefits, Allowances, and Pensions

• Importance of Non-Financial Aspects of Compensation
• Breakdown of Compensation into Employee Benefits and Allowances
• Types of Pension Plans
• Planning an Employee Benefits Package
• Flexibility in Benefits Systems
• Regional, Per Diem, and Field Allowances
• Payments for Overtime and Shift Work
• On-Call Compensation and Pay Across Different Settings