Unit of competency details

BSBHRM505 - Manage remuneration and employee benefits (Release 2)

Summary

Releases:
ReleaseStatusRelease date
2 (this release)Current 09/Apr/2015
(View details for release 1) Replaced25/Mar/2015

Usage recommendation:
Current
Mapping:
MappingNotesDate
Supersedes and is equivalent to BSBHRM505B - Manage remuneration and employee benefitsUpdated to meet Standards for Training Packages 24/Mar/2015


Training packages that include this unit

CodeTitleSort Table listing Training packages that include this unit by the Title columnRelease
SIS - Sport, Fitness and Recreation Training PackageSport, Fitness and Recreation Training Package 2.0-3.0 
HLT - HealthHealth 2.0-4.1 
FNS - Financial Services Training PackageFinancial Services Training Package 3.0-3.1 
BSB - Business Services Training PackageBusiness Services Training Package 1.1-3.0 
AUR - Automotive Retail, Service and Repair Training PackageAutomotive Retail, Service and Repair Training Package 3.0-5.0 

Classifications

SchemeCodeClassification value
ASCED Module/Unit of Competency Field of Education Identifier 080303 Human Resource Management  

Classification history

SchemeCodeClassification valueStart dateEnd date
ASCED Module/Unit of Competency Field of Education Identifier 080303 Human Resource Management  30/Jul/2015 
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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

  • Evaluates and integrates facts and ideas to construct meaning from a range of text types

Writing

1.2, 1.3, 1.5, 2.2, 2.3. 3.2

  • Develops complex material for specific audiences using clear language and appropriate structure to convey explicit information, requirements and recommendations

Oral Communication

1.4, 1.5, 3.1

  • Draws on a repertoire of open questioning and active listening skills when consulting others
  • Uses appropriate terminology and non-verbal features to present information or clarify understanding

Numeracy

1.1, 2.3, 2.4, 2.6,

  • Analyses numerical information to determine employee remuneration and benefits according to a clear set of parameters

Navigate the world of work

1.2, 1.4, 1.6, 2.3-2.6, 3.2

  • Adheres to relevant organisational policies, procedures and legislative requirements
  • Considers own role in terms of its contributions to broader goals of the work environment

Interact with others

1.4, 1.5, 3.1

  • Uses effective presentation and collaboration skills to show options, negotiate agreement and gain feedback on policies

Get the work done

1.1, 1.3, 2.2, 2.3, 3.2

  • Accepts responsibility for planning and sequencing complex tasks and workload, negotiating key aspects with others, taking into account capabilities, efficiencies and effectiveness
  • Applies systematic and analytical processes to determine appropriate models of remuneration and benefits for particular occupational groups and individuals
  • Uses evaluation and analysis of feedback to decide on improvements to strategy

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.education.gov.au/Pages/TrainingDocs.aspx?q=11ef6853-ceed-4ba7-9d87-4da407e23c10

 

Assessment requirements

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.

Performance Evidence

Evidence of the ability to:

  • 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.

Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

Knowledge Evidence

To complete the unit requirements safely and effectively, the individual must:

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

Assessment Conditions

Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in the workforce development human resource development field of work and include access to:

  • an appropriate range of documentation and resources normally used in the workplace
  • organisational policies and procedures
  • relevant legislation, regulations and codes of practice
  • business technology.

Assessors must satisfy NVR/AQTF assessor requirements.

Links

Companion Volume implementation guides are found in VETNet - https://vetnet.education.gov.au/Pages/TrainingDocs.aspx?q=11ef6853-ceed-4ba7-9d87-4da407e23c10

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