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Vskills Certified Compensation and Benefits Manager Vskills

Course details

Vskills 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

Table of Contents

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
Updated on 31 January, 2019

About Vskills

Vskills is the largest certification body of India. It conducts skills testing and certification exam to improve employability. Candidates use Vskills Certifications, which are well recognized in the Industry, as certification of skills and knowledge.
Companies have benefitted by hiring pre-certified candidates from Vskills and also use the certifications for their in house employee appraisals. The certification body is affiliated to various organizations and is managed professionally by IIM Alumni.
Tests are conducted in a secure and unbiased manner, and certificates are awarded based on merit of the candidates who qualify tests.
Vskills certifications are for relevant qualifications that help students/employees quantify and prove those skills that are valued by the employer and are in great demand.

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