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Name: Compensation Management
Rating: 4.64 (1203 reviews)

Compensation Management

4.64 Beginner level 1.5 learning hrs 15.4K+ Learners

Master the discipline of Compensation Management and refine your HR proficiencies with our comprehensive compensation and benefits course. Acquire insights into principles and types to manage employee rewards expediently.

Instructor:

Shantnu Rana

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Skills you will gain

Compensation Management

Remuneration and Benefits

Key Highlights

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About this course

Compensation management is the discipline for the establishment, formulation, and implementation of sound policies and practices of employee compensation. The actual meaning of compensation is to counter-balance. In human resource management, compensation is the remuneration given to an employee in exchange for their services or contributions to the company. It includes both traditional salary and non-cash incentives. In this course, you'll understand the importance, principles, and types of compensation in human resource management. You'll also understand the basics of executive compensation and the challenges of compensation management.

Stand out with an industry-recognized certificate

Start learning

10,000+ certificates claimed, get yours today!

Get noticed by top recruiters

Share on professional channels

Globally recognised

Land your dream job

Course outline

Summary

This comprehensive module on Organizational Behaviour, covers the concept, importance, elements, levels, types, and objectives of the field. It provides a deep understanding of the subject to enhance interpersonal and communication skills and create a positive work environment.

Fundamentals of Organizational Leadership and Management

Establish a foundation in organizational Leadership and Management. Identify the essential soft skills and strategic competencies required to navigate corporate hierarchies and drive team performance effectively.

What is Compensation Management?

Objectives of Compensation Management

Principles of Compensation Management in HRM

Why is Compensation Management Important?

Types of Compensation in HR Management

What is a Compensation Plan?

Compensation Management Process

Challenges of Compensation Management

Executive Compensation

Get access to the complete curriculum once you enroll in the course

View Full Course

Compensation Management

4.64

1.5 Hours

Beginner

15.4K+ learners enrolled so far

Get free course content

Master in-demand skills & tools

Test your skills with quizzes

Trusted by 10 Million+ Learners globally

4.6

4.89

4.94

4.7

Learner reviews of the Free Courses

4.64

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Ruchi Peshave

5.0

★★★★ ★

India

“Perfect and worth the time, love it.”

The instructor was very up to the mark of professional standards, be it his grooming, personality, conduct, communication, soft skills, technical knowledge, concept explanation, pace, body language, and teaching skills were perfect! Also, Great Learning Presentation Slides are also very impressive, and the overall experience of this course was amazing! I love the way after every single video rating is being asked and also feedback after every course is compulsory which is a good thing, that shows you want to know every learner's experience and implement if anything required!

Chandrika Jogineedi

5.0

★★★★ ★

India

“I gained a comprehensive understanding of compensation strategies and their impact on employee motivation and retention.”

The course provided insightful knowledge about the nuances of compensation and benefits structures in organizations. I appreciated the course's focus on balancing both monetary and non-monetary benefits. The discussions on the role of compensation in employee satisfaction and the significance of aligning benefits with organizational goals were eye-opening.

Jayashree Ganesan

5.0

★★★★ ★

United States

“This course can be done by non-HR and it has more information about the compensation process.”

I worked in IT as a QA manual tester, after a very long career gap I am trying to start my career again. I came across this website about free learning and certification. I wanted to study for HR personnel and this course is really helping me. Thank you!

Logan Miller

5.0

★★★★ ★

United States

“Great overview of compensation from an HR standpoint”

Maybe a little more in-depth over executive compensation versus lower wage employees.

Alexys Eleanor Quinn

5.0

★★★★ ★

United States

“Quick, Decent Overview That Doesn't Cost a Fortune”

Not too in-depth, but sufficient for my purposes. It's a nice overview of the process and definitions.

Prakkash Ramann

5.0

★★★★ ★

India

“Fundamentals of Compensation & Benefits Management”

Fundamentals of Compensation & Benefits Management is nicely narrated for anyone to understand the components.

Kanchan Rupesh Pundekar

4.0

★★★ ★ ☆

India

“Compensation Management in HR Management”

The course was very informative and engaging. It provided in-depth knowledge about the topic.

Pallavi Shaw

4.0

★★★ ★ ☆

India

“The Course Provides Good Knowledge of Compensation Management”

It includes detailed information about the compensation management course.

Dharsha S

5.0

★★★★ ★

India

“This Course Helped Me Gain Knowledge About Compensation Management”

I have learned about various terminologies used in compensation and also its importance in the HR department.

Khushi gupta

5.0

★★★★ ★

India

“Compensation and Benefits Specialist”

Compensation refers to the total remuneration or reward that an employee receives in exchange for their work. It includes both direct and indirect forms of payment. Here’s a breakdown: Direct Compensation: This includes monetary payments such as: Base Salary: The fixed amount paid regularly (e.g., monthly or annually). Wages: Hourly or daily payments for work performed. Bonuses: Additional payments based on performance, company profits, or other criteria. Commissions: Earnings based on sales or other performance metrics. Indirect Compensation: This includes non-monetary benefits and perks, such as: Health Insurance: Coverage for medical, dental, and vision expenses. Retirement Plans: Contributions to pension plans or 401(k) accounts. Paid Time Off (PTO): Vacation days, sick leave, and personal days. Employee Discounts: Discounts on company products or services. Other Benefits: Includes life insurance, disability insurance, and educational assistance. Compensation is designed to attract, retain, and motivate employees, and it can vary widely depending on factors like industry, company size, job role, and geographic location.

Our course instructor

Shantnu Rana

Academic Counseling Expert

Management Expert

1.1M+ Learners

81 Courses

Shantnu Rana is an Academic Counseling Expert at Great Learning who has guided thousands of students in planning and choosing their professional careers. As a subject matter expert for soft skills, his passion is to facilitate students for interview-specific preparation, specifically in the areas like behavioural training, resume building, handling interview questions, conflict resolution, time management, interview etiquette, etc.

Frequently Asked Questions

Will I receive a certificate upon completing this free course?

Yes, upon successful completion of the course and payment of the certificate fee, you will receive a completion certificate that you can add to your resume.

Is this course free?

Yes, you may enroll in the course and access the course content for free. However, if you wish to obtain a certificate upon completion, a non-refundable fee is applicable.

Will I get a certificate after completing this Compensation Management free course?

Yes, you will get a certificate of completion for Compensation Management after completing all the modules and cracking the assessment. The assessment tests your knowledge of the subject and badges your skills.

How much does this Compensation Management course cost?

It is an entirely free course from Great Learning Academy. Anyone interested in learning the basics of Compensation Management can get started with this course.

Is there any limit on how many times I can take this free course?

Once you enroll in the Compensation Management course, you have lifetime access to it. So, you can log in anytime and learn it for free online.

Can I sign up for multiple courses from Great Learning Academy at the same time?

Yes, you can enroll in as many courses as you want from Great Learning Academy. There is no limit to the number of courses you can enroll in at once, but since the courses offered by Great Learning Academy are free, we suggest you learn one by one to get the best out of the subject.

Why choose Great Learning Academy for this free Compensation Management course?

Great Learning Academy provides this Compensation Management course for free online. The course is self-paced and helps you understand various topics that fall under the subject with solved problems and demonstrated examples. The course is carefully designed, keeping in mind to cater to both beginners and professionals, and is delivered by subject experts. Great Learning is a global ed-tech platform dedicated to developing competent professionals. Great Learning Academy is an initiative by Great Learning that offers in-demand free online courses to help people advance in their jobs. More than 5 million learners from 140 countries have benefited from Great Learning Academy's free online courses with certificates. It is a one-stop place for all of a learner's goals.

What are the steps to enroll in this Compensation Management course?

Enrolling in any of the Great Learning Academy’s courses is just one step process. Sign-up for the course, you are interested in learning through your E-mail ID and start learning them for free online.

Will I have lifetime access to this free Compensation Management course?

Yes, once you enroll in the course, you will have lifetime access, where you can log in and learn whenever you want to.