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Certified Compensation and Benefits Manager

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ABA Certification in Compensation and benefits assesses the candidate on the principal need of the organization which is establishing and maintaining a pay system which is fair to all. The certification tests the candidates 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.

Why should one take this certification?
If you are working in the HR area and are looking for a new job or promotion or simply more responsibility, then you can take this certification and prove the employer about your knowledge about the area. It works as an added qualification on your CV and significantly improves your chances of getting the desired role.

Who will benefit from taking this certification?
Job seekers looking to find employment in the HR departments of various companies, candidates generally wanting to improve their skill set and make their CV stronger and existing employees looking for a better role can prove their employers the value of their skills through this certification

Details:
Duration: 60 hour

Course Outline

Introduction
1. Explains the components of wages
2. Explains the objectives of compensation
3. Explains principles of compensation formulation taking into account the determinants of wage rates
4. Explains the theories and principle of compensation determination
5. Illustrates different types of wages such as minimum rate of wages, need-based minimum wage, living wage and fair wage
6. Explains the significance of employee compensation
7. Explains the behavioral and ethical issues faced in an organisation
8. Explains the procedure and practices involved in wage determination
9. Illustrates the compensation decisions involved in management such as job analysis, description, identifying job factors, job evaluation and pay determination
10. Illustrates the procedure of compensation benchmarking compensation benchmarking involving planning, analysis, integration and action phase
11. Explains the salient features of employee compensation in India
12. Explains the components of employee reward system and compensation practices in India

Economic Theories
1. Economic theories in compensation management
2. Explains the procedure of Employee compensation valuation
3. Describes ESOPs and procedure of pricing
4. Explains the role of Labour Markets and Trade Unions

Job design
1. Explains the process of designing a job
2. Explains the procedure and steps involved in job analysis and job description
3. Describes the process involved in job evaluation and assessment
4. Describes the tools used in work measurement in an organisation
5. Explains the importance of management and ergonomics

Performance-based compensation
1. Explains the functioning of Performance Management System (PMS)
2. Describes the objectives and indicator of performance measurement
3. Describes the procedure of developing performance standards in an organisation
4. Describes different techniques of performance modeling
5. Explains the dimensions and scales of performance evaluation
6. Explains the concept and working of Competency-based pay

Team-based compensation
1. Explains the operations and techniques involved in employee evaluation system
2. Explains the concept of group incentive plans
3. Describes the gain-sharing plan
4. Explains the procedure of designing team-based compensation
5. Describes the issue in rewarding teams

Executive Compensation
1. Explains the theories and practices involved in executive compensation
2. Describes the components of executive compensation
3. Explains the factors affecting executive compensation and the criteria involved in executive compensation
4. Explains the various techniques of performance measurement

Employee Motivation and benefits
1. Explains the theory of employee motivation and morale boosting
2. Explains the objectives of employee motivation
3. Explains different types of employee benefits
4. Statutory employee benefits in India
5. Describes the various employee benefits alternatives
6. Describes the various non-monetary employee benefits
7. Explains the deferred compensation plan

Sales Compensation
1. Explains the concept of sales functions
2. Describes the sales compensation plan design procedure and issues encountered
3. Explains the procedure of sales compensation design and administration
4. Describes different types of sales incentives and motivation plans

Legal issues
1. Compensation and Income Tax Act, 1961
2. Describes the various tax implications
3. Describes the process of wage fixation and legal interpretation

Quantitative Tools for Compensation Management
1. Explains the variable compensation plans and defines its constitution
2. Described the retirement plans and its structure
3. Explains the concept of payroll management system and their functioning
4. Explains the procedure of determining incentives and employee benefits
5. Describes the methods of group incentive payments
6. Explains the concept of Economic Value Added (EVA)
7. Describes the procedure of quantitative analysis for performance measurement

International Compensation Management
1. Explains the different approaches to international compensation
2. Describes the various components of international compensation
3. Describes the procedure of designing international compensation plans
4. Explains the concept of variation
5. Describes the issues encountered in designing international compensation plans
6. Explains the various repatriation issues

  • The certificates obtained by the trainee 
  •            1.Certified Compensation and Benefits Manager from AIPS
  •            2.Certificate of Altaknyia institution for development and training, consulting and quality systems in case the
  •            3.trainee passed the final test and handed over all the duties and the final project.
  •            4.Get the trainee to complete the training material printed and coated.
  •            5.It is performed several workshops and practical exercises during the period of implementation of the program.