What Should HR Professionals Focus on in Compensation and Benefits? Seeking Advice!

Dear Team,

Please suggest to me what components I should learn as an HR professional in the compensation and benefits area. What is compensation and benefits, and what parts should I focus on as an HR executive?

Thank you.

Understanding Compensation and Benefits

There is a point of beginning to what you are seeking and no end to it. Please start with understanding pay structures and their features, such as basic pay, PF, deductions, and so on. Understand the core and how the rest depends on the percentage of it. Grade and skill pay follows. Understand how it works in your firm and compare it to others in the sector. Read about Mini-max and salary calculations. Once you have the basics in place, you can explore the strategies and design. If you have a budget, you can consider enrolling for a training session offered by firms such as Towers Watson.

Regards