Unit of competency
Modification History
Release |
Comments |
Release 2 |
This version first released with BSB Business Services Training Package Version 1.1. Version created to correct mapping table information |
Release 1 |
This version first released with BSB Business Services Training Package Version 1.0. |
Application
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.
No licensing, legislative or certification requirements apply to this unit at the time of publication.
Unit Sector
Workforce Development – Human Resource Management
Elements and Performance Criteria
ELEMENT |
PERFORMANCE CRITERIA |
Elements describe the essential outcomes. |
Performance criteria describe the performance needed to demonstrate achievement of the element. |
1 Develop organisation’s remuneration strategy |
1.1 Analyse strategic and operational plans to determine the scope of remuneration and benefits plans 1.2 Undertake research on current practice, recent developments and legislative parameters for remuneration strategy 1.3 Develop options for consideration by relevant managers 1.4 Present options showing the link to organisational strategic objectives 1.5 Ensure remuneration policies and incentive plans are agreed and recorded 1.6 Ensure organisation is positioned as an employer of choice and regarded as a desirable workplace |
2 Implement remuneration strategy |
2.1 Research occupational groups to determine those which are industrial agreement based 2.2 Access or undertake market rates surveys regularly to ensure the organisation’s required level of competitiveness for particular occupational groups is maintained 2.3 Align remuneration and benefits plans with performance management system 2.4 Ensure employees receive at least their minimum entitlements according to organisational policies and legal requirements 2.5 Ensure salary packages comply with organisational policies and legal requirements, including fringe benefits tax (FBT) and superannuation 2.6 Ensure incentive arrangements, if included, comply with the organisation’s remuneration strategy |
3 Review and update remuneration strategy |
3.1 Consult managers and employees about the effectiveness of the remuneration strategy 3.2 Amend strategy and plans as necessary to meet organisational policies and legal requirements |
Foundation Skills
This section describes language, literacy, numeracy and employment skills incorporated in the performance criteria that are required for competent performance.
Skill |
Performance Criteria |
Description |
Reading |
1.1-1.4, 2.1-2.3, 2.5, 2.6, 3.2 |
|
Writing |
1.2, 1.3, 1.5, 2.2, 2.3. 3.2 |
|
Oral Communication |
1.4, 1.5, 3.1 |
|
Numeracy |
1.1, 2.3, 2.4, 2.6, |
|
Navigate the world of work |
1.2, 1.4, 1.6, 2.3-2.6, 3.2 |
|
Interact with others |
1.4, 1.5, 3.1 |
|
Get the work done |
1.1, 1.3, 2.2, 2.3, 3.2 |
|
Unit Mapping Information
Code and title current version |
Code and title previous version |
Comments |
Equivalence status |
BSBHRM505 Manage remuneration and employee benefits |
BSBHRM505B Manage remuneration and employee benefits |
Updated to meet Standards for Training Packages |
Equivalent unit |
Links
Companion Volume implementation guides are found in VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=11ef6853-ceed-4ba7-9d87-4da407e23c10