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Performance Management and Compensation Management Complete 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:
Fundamentals of Performance Management
Performance Management System
Performance Management Process
Understanding Performance Appraisal
Methods of Performance Appraisal
Job and related concepts
Mentoring and Coaching
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
Behavioural Dimension of compensation management
Wages & salaries administration
Incentives and Fringe Benefits
Stock Based Compensation
Compensation and Business Environment
Challenges to compensation management
Compensation for Flexible Workforce
Legal framework for Compensation
International Payment System