Certified compensation and benefits manager brochure

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Vskills Certified compensation and benefits manager

Vskills Certified compensation and benefits manager

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  • 1. Certified Compensation and Benefits Manager VS-1004
  • 2. Certified Compensation and Benefits Manager Certified Compensation and Benefits ManagerCertification Code VS-1004Vskills Certification in Compensation and benefits assesses the candidate on the principalneed of the organization which is establishing and maintaining a pay system which is fair toall. The certification tests the candidates in various areas which include methods to ensurefair and equitable pay, conducting surveys to compare their compensation systems withother companies and ensuring that the firm’s pay scale complies with changing laws andregulations. An important part of the Compensation and benefits manager’s role isperformance 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 simplymore responsibility, then you can take this certification and prove the employer about yourknowledge about the area. It works as an added qualification on your CV and significantlyimproves 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 andexisting employees looking for a better role can prove their employers the value of theirskills through this certification1. Test Details: • Duration: 60 minutes • No. of questions: 50 • Maximum marks: 50, Passing marks: 25 (50%); There is no negative marking in this module.2. Fee Structure:Rs. 2,000/- (Includes all taxes)www.vskills.in
  • 3. Certified Compensation and Benefits ManagerCompanies that hire Vskills Compensation and Benefits ManagerVskills Certified Compensation and Benefits Manager might find employment in all kindof companies, big or small, since Compensation and benefits is a crucial part of anyorganization. Many companies contact us on a regular basis, and we forward them a list ofour certified candidates, and the candidates are highly in demand.www.vskills.in
  • 4. Certified Compensation and Benefits Manager Table of Content1. Introduction1.1 Objectives of compensation management1.2 Principles of compensation formulation1.3 Types of wages and wage policies1.4 Procedure and practices for wage determination1.5 Compensation decisions1.6 Compensation benchmarking1.7 Compensation trends and practices in India2. Economic Theories2.1 Economic theories in compensation management2.2 Employee compensation valuation2.3 ESOPs and its pricing2.4 Equity in employee benefits2.5 Labour Markets and Trade Unions3. Job design3.1 Job Design3.2 Job Analysis3.3 Job Description3.4 Job Evaluation and Assessment3.5 Work Measurement3.6 Management and Ergonomics erformance-4. Performance-based compensation4.1 Performance Management System (PMS)4.2 Objectives and indicator of performance4.3 Developing performance standards4.4 Performance modeling techniques4.5 Performance dimensions and performance observation scales4.6 Competency-based pay Team- compensation5. Team-based compensation5.1 Employee evaluation system5.2 Group incentive plans5.3 Gain-sharing plan5.4 Designing team-based compensation5.5 Issue in rewarding teamswww.vskills.in
  • 5. Certified Compensation and Benefits Manager6. Executive Compensation6.1 Theories and practices of executive compensation6.2 Components and design of executive compensation6.3 Factors affecting executive compensation6.4 Executive compensation criteria6.5 Techniques of performance measurement6.6 Organizational strategies7. Employee Motivation and benefits7.1 Motivation and morale7.2 Theories of employee motivation7.3 Objectives of employee motivation7.4 Types of employee benefits7.5 Tax obligations7.6 Statutory employee benefits in India7.7 Employee benefits alternatives7.8 Non-monetary benefits7.9 Deferred compensation plan8. Sales Compensation8.1 Sales functions8.2 Sales compensation plans and issues8.3 Sales compensation design and administration8.4 Sales incentives and motivation9. Legal issues9.1 Compensation and Income Tax Act, 19619.2 Tax implications9.3 Wage fixation and legal interpretation10. Quantitative Tools for Compensation Management10.1 Variable Compensation plans10.2 Retirement plans10.3 Payroll management10.4 Incentive determination and employee benefits10.5 Group incentive payments10.6 Overtime wages10.7 Economic Value Added (EVA)10.8 Quantitative analysis11. International Compensation Management11.1 Approaches to international compensation11.2 Components of international compensation11.3 Designing international compensation planswww.vskills.in
  • 6. Certified Compensation and Benefits Manager11.4 Concept of variation11.5 Cultural issues11.6 Repatriation issueswww.vskills.in
  • 7. Certified Compensation and Benefits Manager Course OutlineIntroduction Explains the components of wages Explains the objectives of compensation Explains principles of compensation formulation taking into account the determinants of wage rates Explains the theories and principle of compensation determination Illustrates different types of wages such as minimum rate of wages, need-based minimum wage, living wage and fair wage Explains the significance of employee compensation Explains the behavioral and ethical issues faced in an organisation Explains the procedure and practices involved in wage determination Illustrates the compensation decisions involved in management such as job analysis, description, identifying job factors, job evaluation and pay determination Illustrates the procedure of compensation benchmarking compensation benchmarking involving planning, analysis, integration and action phase Explains the salient features of employee compensation in India Explains the components of employee reward system and compensation practices in IndiaEconomic Theories Economic theories in compensation management Explains the procedure of Employee compensation valuation Describes ESOPs and procedure of pricing Explains the role of Labour Markets and Trade UnionsJob design Explains the process of designing a job Explains the procedure and steps involved in job analysis and job description Describes the process involved in job evaluation and assessment Describes the tools used in work measurement in an organisation Explains the importance of management and ergonomicsPerformance-based compensation erformance- Explains the functioning of Performance Management System (PMS) Describes the objectives and indicator of performance measurement Describes the procedure of developing performance standards in an organisation Describes different techniques of performance modeling Explains the dimensions and scales of performance evaluationwww.vskills.in
  • 8. Certified Compensation and Benefits Manager Explains the concept and working of Competency-based payTeam-Team-based compensation compensation Explains the operations and techniques involved in employee evaluation system Explains the concept of group incentive plans Describes the gain-sharing plan Explains the procedure of designing team-based compensation Describes the issue in rewarding teamsExecutive Compensation Explains the theories and practices involved in executive compensation Describes the components of executive compensation Explains the factors affecting executive compensation and the criteria involved in executive compensation Explains the various techniques of performance measurementEmployee Motivation and benefits Explains the theory of employee motivation and morale boosting Explains the objectives of employee motivation Explains different types of employee benefits Statutory employee benefits in India Describes the various employee benefits alternatives Describes the various non-monetary employee benefits Explains the deferred compensation planSales Compensation Explains the concept of sales functions Describes the sales compensation plan design procedure and issues encountered Explains the procedure of sales compensation design and administration Describes different types of sales incentives and motivation plansLegal issues Compensation and Income Tax Act, 1961 Describes the various tax implications Describes the process of wage fixation and legal interpretation ManagementQuantitative Tools for Compensation Management Explains the variable compensation plans and defines its constitution Described the retirement plans and its structure Explains the concept of payroll management system and their functioning Explains the procedure of determining incentives and employee benefits Describes the methods of group incentive payments Explains the concept of Economic Value Added (EVA) Describes the procedure of quantitative analysis for performance measurementwww.vskills.in
  • 9. Certified Compensation and Benefits ManagerInternational Compensation Management Explains the different approaches to international compensation Describes the various components of international compensation Describes the procedure of designing international compensation plans Explains the concept of variation Describes the issues encountered in designing international compensation plans Explains the various repatriation issueswww.vskills.in
  • 10. Certified Compensation and Benefits Manager Sample Questions1. Which of the following statements is not correct regarding earnings per share(EPS) maximization as the primary goal of the firm?A. EPS maximization ignores the firms risk levelB. EPS maximization does not specify the timing or duration of expected EPSC. EPS maximization naturally requires all earnings to be retainedD. EPS maximization is concerned with maximizing net income company, representatives2. In a company, representatives from management and workers come together todecide such matters as improving performance, working conditions, and jobsecurity. What are these groups called?A. Democratic determinationB. Worker determinationC. Work councilsD. Democratic representation3. Which of the following factors may influence compensation?A. TaxationB. Healthcare costsC. The cost of livingD. All of the above4. The amount of salary an individual receives in the home-country becomes the home-________ when calculating compensation. compensation.A. base salaryB. original allowanceC. non-negotiable salaryD. None of the above5. Employee turnover rate focuses on stability of employee in the organisation.A. TrueB. FalseAnswers: 1 (D), 2 (C), 3 (D), 4 (A), 5 (B)www.vskills.in