There is a lot more to attracting high-quality applicants than simply putting out a compelling advert. Even a positive workplace culture may not be enough. To ensure that your company recruits and retains the very best in your industry, you need to put together a fair and comprehensive compensation and benefits package. Not only does offering this type of care to your employees make them feel more valued, studies show that it can boost productivity and reduce turnover.
This course provides you with important information about how to develop a compensation package and benefits plan, regardless of what type of workplace you run or manage.
We begin by discussing the law and how it relates to the payment of staff members. The course then moves on to cover the details behind creating a compensation plan that is sure to attract the best applicants. Next, strategies for finding the best benefits package are discussed. Finally, we go into detail about when you should review your plans.
You Will Learn:
- What constitutes “compensation” and what is classed as a “benefit”
- The types of compensation employers must pay according to the law
- How you can reward your top performing employees
- The types of benefits you can provide for your staff
- Why it is easier to manage some benefits on your own
- What to do if your recruitment process seems slower than usual
Benefits of Taking This Course:
- Learning why you need a written contract and what it should contain
- Determining the best way to reward high-performing staff members
- Understanding why you need to define your corporate philosophy before setting your wages
- Learning the best way to find a benefits supplier that suits your needs
- Learning when is the best time to review your policies