what level of financial knowledge is needed to work with relation to comp and ben? is comp and ben a qualitative or an absolute quantitative process?
From Mauritius, Ebčne
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From Mauritius, Ebčne
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Hi Shloka,
Welcome to Citehr.com! I hope your tryst with us proves to be a great experience as it has been for all of us here.
"What level of financial knowledge is needed to work concerning comp and ben? Is comp and ben a qualitative or an absolute quantitative process?"
C&B - Compensation & benefits (Dips... for your information please)
Here, one should have a basic knowledge of finance and its implications, especially the comfort level with numbers is essential. Why? Because if you don't, the finance guys and others would challenge you with numbers and implications. So, one should be thorough with the basics. Needless to say, ease with Excel sheets and the ability to work out the implications vis-a-vis budgeted costs and impact on the bottom line as desired by management along with various options.
More than that, one should have knowledge of the components of C&B and the standard practices followed as such. It has been highlighted in detail under the CTC head in the C&B header.
Knowledge of tax planning is crucial, especially the allowable allowances and the exemptions available.
"Is comp and ben a qualitative or an absolute quantitative process?"
Both.
Be aware of the trends in your industry and the latest methods of restructuring post FBTs to attract talent.
Here, you have to defend your position and have the ability to meet the ever-increasing demands of both the employees and management.
Hope this helps.
Have a great day!
Cheers,
Rajat
From India, Pune
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108Welcome to Citehr.com! I hope your tryst with us proves to be a great experience as it has been for all of us here.
"What level of financial knowledge is needed to work concerning comp and ben? Is comp and ben a qualitative or an absolute quantitative process?"
C&B - Compensation & benefits (Dips... for your information please)
Here, one should have a basic knowledge of finance and its implications, especially the comfort level with numbers is essential. Why? Because if you don't, the finance guys and others would challenge you with numbers and implications. So, one should be thorough with the basics. Needless to say, ease with Excel sheets and the ability to work out the implications vis-a-vis budgeted costs and impact on the bottom line as desired by management along with various options.
More than that, one should have knowledge of the components of C&B and the standard practices followed as such. It has been highlighted in detail under the CTC head in the C&B header.
Knowledge of tax planning is crucial, especially the allowable allowances and the exemptions available.
"Is comp and ben a qualitative or an absolute quantitative process?"
Both.
Be aware of the trends in your industry and the latest methods of restructuring post FBTs to attract talent.
Here, you have to defend your position and have the ability to meet the ever-increasing demands of both the employees and management.
Hope this helps.
Have a great day!
Cheers,
Rajat
From India, Pune
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TIPS FOR TAX PLANNING FOR THE FINANCIAL YEAR 2018-19.docx
FINANCIAL PLANNING.ppt