5 Strategies for Effective Compensation Planning

Compensation & Benefits is one of the most intriguing and complex verticals Human Resource Professionals have to deal with. With different organizations having very different approaches to plan their Compensation & Benefits it is very difficult for an HR professional to understand the what & how of this strategic COE.

In this webinar, we will take you through the best practices and the most innovative ways of planning Compensation & Benefits for an organization and tell you the secrets you never knew.

This webinar focuses on the following areas

✅ Differentiating between Compensation & Benefits
✅ Internal & Individual Equity
✅ External Equity
✅ Reduction in Turnover
✅ 5 Strategies to Manage Compensation
✅ The competency connect

For more information regarding our course on Compensation & Benefits, please visit https://www.chrmp.com/compensation-be...

To know more about our various other offerings, visit https://www.chrmp.com

Chapters:

0:00 Introduction
1:45 Understanding C & B
3:06 What is compensation?
3:38 What are benefits?
7:17 Factors affecting Compensation Planning
18:33 Equity not factors
19:42 Objectives of Compensation Planning
23:28 Reducing Compensation Turnover
28:20 Balancing Internal Equity
29:40 Salary structure
37:59 Maintaining a median
44:26 Balancing External Equity
51:29 Balancing Individual Equity
56:18 Reducing compensation turnover

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