Certified Compensation and Benefits Manager

BY
Vskills

Learn how to supervise, create and execute planned programmes to pay satisfactory wage to employees with the help of Vskills Compensation and Benefits Manager.

Mode

Online

Fees

₹ 3499

Quick Facts

particular details
Medium of instructions English
Mode of learning Self study
Mode of Delivery Video and Text Based

Course overview

The aim of this programme in Compensation and Benefits Manager Certification is to ensure a fair pay system for all of the employees in the organisation. The candidates will be learning techniques on how to establish a consistent and justified structure of salary, build a wage plan, and provide incentives for a long as well as short period of time. With these methodologies, the candidates will learn to hold on to the old customers, as well as engage and motivate new audiences.

The candidates will take away core concepts based on technology, that will help them in both, coming up with new wage strategies as well as motivate new employees.

After the successful completion of this course, the graduates will be working with human resources and hiring managers as well as recruiters. They will be expected to examine positions at every level in the organisation and decide its market value while being fair to other employees.

The highlights

  • Mock tests available
  • Practice Sets
  • Online Classroom
  • Mock Tests
  • Job Partners like Shine, Monster, and Naukri

Program offerings

  • Practice sets
  • Mock exams
  • Online exam
  • Study materials

Course and certificate fees

Fees information
₹ 3,499

Following details are provided about the payment of fee :

  • The basic fee for the given course, excluding taxes, is Rs. 3,499.

Certified Compensation and Benefits Manager Fees 

Fee Category 

Amount in Rupees

Base Fee

Rs. 3,499

certificate availability

Yes

certificate providing authority

Vskills

Who it is for

Following candidates are strongly recommended to apply for the course of Compensation and Benefits Manager:

  • Candidates looking for employment in the HR departments
  • Candidates wanting to be more responsible, interested in a new job, or are watching out for a promotion
  • Students who want to work for the HR firms and wanted a certification that would strengthen their resume
  • Employees already working in some company but wanting to improve their skills
  • Employees wanting to be of greater value to their employers.

Eligibility criteria

Education

Prior education is not required to apply for this course in Compensation and Benefits Manager Certification. 

What you will learn

Human resource management

The course of Compensation and Benefits Manager Certification will have a number of takeaways. The candidates will mainly learn:

  • To design jobs keeping the payment in mind. 
  • To allot compensations based on performance.
  • To allot compensation based on Sales, Teams, and Executives.
  • To motivate employees.
  • About quantitative tools.
  • About the International Compensation System.

The syllabus

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

Admission details

There are a few simple and directive steps to ensure admission in the Compensation and Benefits Manager Certifications. Participants must follow the entire admission process appropriately. 

Step 1. The direct link to the homepage of the course is https://www.vskills.in/certification/human-resources/certified-compensation-and-benefits-manager

Step 2. On scrolling down a bit, the candidates should be able to find the words ‘buy now’ written in white ink and capital letters towards the right side. 

Step 3. Click on the ‘buy now’ option. 

Step 4. The candidates will be redirected to a new page which will ask for login credentials. Login with your details or Sign Up if you are a new user. 

Step 5. After filling in with details that are asked, a purchase is required. Choose a suitable payment method to pay for the course. 

Step 6. After receiving confirmation of the purchase, the candidates will be eligible to take the exam for this course and will receive access to study materials. 

Evaluation process

An exam of 50 questions will be conducted by Vskills. The passing mark is 25 (50%). The mode of examination will be online and there will be no negative marking. A total of one hour will be given to the candidates to give the exam. 

How it helps

This course of Compensation and Benefits Certification not only evaluates the candidates in various fields such as comparing the compensation algorithm of different companies by conducting various tests and surveys but also makes them equipped with techniques that would help make sure their organisation’s pay complies with changing trends, laws and regulations. 

One of the most significant roles of a Compensation and Benefits Manager is to evaluate the performance of its employees and pay them according to their performances. Part of the exam that will be conducted consists of evaluating performances and allotting wages only. 

Graduates of this course will find themselves landing jobs in big and small companies, some of which include TeamLease Services Limited, Adecco, Bajaj Capital, ABC Consultants, Ikya Human Capital Solutions, Mercer India, and Ma Foi Randstad. 

After successful completion of the course, the candidates will master the ability to supervise the employees working under or with them, consult other managers and specialists, along with recommending changes based on the data they have collected. They will know how to design their organisation’s budget while keeping in mind the budget that they have. 

FAQs

What are the accepted payment methods?

The candidates wanting to apply can pay by Credit/Debit Cards or Netbanking. Any type of Indian Credit and Debit card including Mastercard/Visa/Amex will be accepted.

What is the certification received after the completion of the course and what are the benefits that come with it?

Successful candidates will be provided with a Government Certification by Vskills that will grant them lifelong e-learning access and practice sets. They will also be flagged as ‘Vskills Certified’ on leading employment websites.

Are there any classes that are provided by Vskills for preparation?

Vskills does not provide private coaching or lectures to any candidate. It only provides the study materials.

What is the study material provided?

Online e-learning access along with a hard copy of the study materials will be provided by Vskills to the candidates on selected courses. 

What are the typical steps in the placement process?

 After the successful qualification in the exam, the candidates will receive the tag of Vskills certified. Recruiters will be sent information about the candidate. Employment websites like Shine and Monsterindia will also receive qualification details of the candidates for sending them job updates.

Where can I find the table of contents on the website?

You can either download the brochure to look for the contents of this course or follow this direct link-

https://www.vskills.in/certification/Certified-Compensation-and-Benefits-Manager-Table-of-Contents 

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