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Performance Management and Compensation Management in HRM

07 Aug, 2021by Admin 22
Performance Management and Compensation Management in HRM
Performance Management and Compensation Management in HRM

Get Udemy Coupon 100% OFF For Performance Management and Compensation Management in HRM Course

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 PerformanceFundamentals of Performance ManagementPerformance Management SystemPerformance CounsellingPerformance Management ProcessPerformance PlanningUnderstanding Performance AppraisalPerformance InfluencersMethods of Performance AppraisalJob and related conceptsDegree FeedbackPotential AppraisalMentoring and CoachingPerformance MonitoringPerformance MeasurementCareer Development and MobilityPerformance Management ImplementationEthics in Performance ManagementPerformance Management in International ContextRole of HR professional in performance managementUnderstanding Compensation ManagementFoundation of Compensation ManagementFactors influencing Compensation ManagementCompensation and Job EvaluationArchitecture of Compensation ManagementDesigning CompensationBehavioural Dimension of compensation managementManaging PerformanceWages & salaries administrationPerformance rewardIncentives and Fringe BenefitsStock Based CompensationCompensation and Business EnvironmentExecutive CompensationChallenges to compensation managementCompensation for Flexible WorkforceLegal framework for CompensationInternational 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

WHAT WILL YOU LEARN IN THIS COURSE:

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

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IF YOU FIND THIS FREE UDEMY COURSE Performance Management “USEFUL AND HELPFUL PLEASE GO AHEAD SHARE THE KNOWLEDGE WITH YOUR FRIENDS WHILE THE COURSE IS STILL AVAILABLE


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