BSBHRM505

This unit describes the skills and knowledge required to implement an organisation’s remuneration and benefit plans. It incorporates all functions associated with remuneration, including packaging, salary benchmarking, market rate reviews, bonuses and the legislative aspects of remuneration and employee benefits.

It applies to individuals who are human resource managers responsible for overseeing an organisation’s remuneration process.

Topics:

  1. Develop organisation’s remuneration strategy
  2. Implement remuneration strategy
  3. Review and update remuneration strategy

Upon successful completion of this unit, you will:

  • develop remuneration strategies for different occupational groups
  • manage remuneration and benefits in accordance with all legislative and ethical requirements and operational policies
  • apply awards and agreements to remuneration processes
  • apply requirements of the Australian Taxation Office in relation to income tax, superannuation reporting, FBT and bonus payments

Demonstrate knowledge of:

  • remuneration principles or models and approaches
  • the ethical practices relating to remuneration and benefits strategies
  • various remuneration or employee benefits
  • ways to position an organisation an ’employer of choice’
  • award structures for industrial agreements
  • organisational policies and procedures affecting remuneration strategies
  • relevant legislation, regulations and standards that may affect remuneration strategies
  • the requirements of the Australian Taxation Office in relation to:
    • income tax
    • superannuation reporting
    • FBT and bonus payments

Nominal hours = 60 hours