Performance Management and Compensation Management in HRM

Performance Management and Compensation Management Complete Course

What you'll learn
Role of HR professional in Performance management
Role of HR professional in Compensation Management
Performance Management System
Performance Management Process
Methods of Performance Appraisal
360 Degree Feedback
Potential Appraisal
Performance Management Implementation
Architecture of Compensation Management
Designing Compensation
Wages and salaries administration
Performance reward
Incentives and Fringe Benefits
Stock Based Compensation
International Payment System
Requirements
Eager to learn Performance Management & Compensation Management
Description
Performance management is a corporate management tool that helps managers monitor and evaluate employees' work. Performance management's goal is to create an environment where people can perform to the best of their abilities to produce the highest-quality work most efficiently and effectively.

Performance-management programs use traditional tools such as creating and measuring goals, objectives, and milestones. They also aim to define what effective performance looks like and develop processes to measure performance. However, instead of using the traditional paradigm of year-end reviews, performance management turns every interaction with an employee into an occasion to learn.

Compensation management, also known as wage and salary administration, remuneration management, or reward management, is concerned with designing and implementing total compensation package.

Compensation management is the practice of planning and distributing the overall pay and benefits package to a company's employees. This program ensures that a company's salaries and bonuses remain competitive within the industry and equitable within the organization. It also involves managing company benefit programs, ensuring the job classifications are up to date, risks are minimized, and the package meets the overall needs of employees and their families.

Learning outcomes from this Courses:

Understanding Performance

Fundamentals of Performance Management

Performance Management System

Performance Counselling

Performance Management Process

Performance Planning

Understanding Performance Appraisal

Performance Influencers

Methods of Performance Appraisal

Job and related concepts

Degree Feedback

Potential Appraisal

Mentoring and Coaching

Performance Monitoring

Performance Measurement

Career Development and Mobility

Performance Management Implementation

Ethics in Performance Management

Performance Management in International Context

Role of HR professional in performance management

Understanding Compensation Management

Foundation of Compensation Management

Factors influencing Compensation Management

Compensation and Job Evaluation

Architecture of Compensation Management

Designing Compensation

Behavioural Dimension of compensation management

Managing Performance

Wages & salaries administration

Performance reward

Incentives and Fringe Benefits

Stock Based Compensation

Compensation and Business Environment

Executive Compensation

Challenges to compensation management

Compensation for Flexible Workforce

Legal framework for Compensation

International Payment System

Who this course is for:
HR Professionals
HR Managers
Any Postgraduate Pursing MBA HR
Training Manager
Payroll Manager
Talent Acquisition Manager (or Recruiting Manager)
Benefits Manager
Compensation Manager
Sourcing Manager
HR Project Manager
HRIS Manager
Strategic Sourcing Manager
HR Analyst
Recruiter
HR Coordinator
HR Business Partner
HR Consultant
Managers