Compensation and Benefits (C&B) consulting

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Compensation and Benefits (C&B) consulting is a service that advises on labor-related matters such as salary management and employee welfare programs within a business. This service helps businesses save time, optimize costs, and avoid errors in decisions related to salaries, bonuses, and employee benefits. Therefore, this service is becoming increasingly essential for businesses. Recognizing the growing demand of businesses in this area, Long Phan provides Compensation and Benefits consulting services for enterprises.”

CONSULTATION ON C&BWhat is C&B?

What is C&B?

C&B is an abbreviation for Compensation and Benefits. In this context, Compensation in the field of human resources refers to the remuneration that a business pays to employees in exchange for their work contributions. Benefits in the C&B term are understood as the perks and advantages that employees receive from the business during their employment. Welfare programs within a business may include bonuses, commissions, pensions, social insurance, and encompass the company’s policies related to enhancing the employees’ overall well-being.

In essence, C&B can succinctly be defined as the remuneration and benefits that a business provides to its employees in recognition of their effective contributions. Compensation and Benefits policies in a business are critical factors influencing the attraction and retention of talented individuals.

What does the comprehensive C&B service include?

Human resources and payroll

The human resources service provides either a portion or all of the functions similar to the HR department within a business. This type of service helps businesses manage the personnel’s activities accurately and efficiently, leading to well-operated processes and cost savings in the human resources field. Additionally, this service establishes the foundation for developing the company’s culture, providing motivation for the workforce.

The human resources and payroll service aids businesses and their personnel in optimizing the benefits for both parties, ensuring the maintenance of mutually beneficial relationships based on cooperation and long-term bonding. This service supports businesses in specific areas such as:

  • Planning recruitment and attracting talented personnel for the business.
  • Establishing and managing personnel records within the business.
  • Monitoring, evaluating, and reporting on the full capacity of each employee in the business.
  • Advising management on plans and strategies to build, develop, and retain talented personnel.
  • Constructing the human resources machinery in alignment with the business’s direction, model, and development strategy.
  • Developing an accurate, convenient, and cost-saving timekeeping mechanism for the business.
  • Generating reports and statistical tables of monthly attendance for each employee.
  • Assisting businesses in establishing salary, bonus, and employee benefit mechanisms to ensure the interests of both the business and its personnel.
  • Keeping track of changes in the salary and bonus landscape in line with the market.
  • Calculating salaries, preparing payroll sheets, salary slips, and analyzing the payroll fund and costs by department and job position.
  • Creating a salary payment mechanism and improving the development of benefits in the business.

Consultation on individual income tax declaration and settlement

The tax declaration and settlement advisory service aims to assist individuals with tax obligations in fulfilling their financial responsibilities related to taxes, concurrently addressing financial challenges. To achieve this objective, this service performs tasks similar to those of a business accountant, including:

  • Identifying the taxable status of individuals to develop a plan for the corresponding tax declaration and settlement.
  • Advising on the tax declaration and settlement process for individuals.
  • Providing guidance on challenging issues and risks in the tax declaration and settlement activities, proposing solutions to minimize potential risks for the taxpayer.
  • Tailoring the settlement process based on the individual’s income type, aiming to save time and costs.
  • Organizing and verifying documents and invoices to facilitate the tax settlement process.
  • Compiling, analyzing, and evaluating taxable and exempted/reduced income.
  • Preparing and planning periodic tax declarations and settlements for individuals.”

Labor relations

The C&B service also aids businesses in managing, constructing, improving, and developing labor relations between employees and the business, as well as between employees and leadership. The tasks provided by the C&B service related to labor relations include relationships between the business and employees, and relationships between the business and the state, specifically as follows:

  • Establishing procedures for recruitment and fostering labor relations with personnel.
  • Developing and implementing procedures for establishing labor relations within the business.
  • Guiding and planning the effective implementation of labor relations.
  • Creating conflict resolution procedures within the business.
  • Receiving information within the work environment of the business.
  • Addressing and resolving conflicts of interest between employees and the business.
  • Analyzing and evaluating the causes, nature, and extent of conflicts to propose appropriate solutions that ensure the interests of all parties.
  • Managing and adjusting policies and regulations to establish labor relations in line with the business’s development direction.

Social insurance

Social insurance is one of the benefits that employees receive when working for a business. Determining and implementing a social insurance system within the business for employees can pose risks leading to conflicts of interest and time loss for both the business and employees. C&B addresses this accurately through the following activities:

  • Monitoring and researching social insurance for employees within the business.
  • Keeping track of state adjustments regarding social insurance.
  • Compiling a list and creating social insurance profiles for each employee.
  • Assisting employees in resolving issues related to social insurance.
  • Advising on the business’s process for implementing social insurance for employees.

Administrative procedures with government agencies on C&B

Administrative procedures with state agencies on Compensation and Benefits (C&B) involve personnel and welfare procedures that businesses must carry out at state agencies to ensure the rights and benefits of employees. C&B services perform administrative procedures with state agencies on C&B as follows:

  • Develop a plan for establishing a labor management system.
  • Plan the implementation of the document filing process and social insurance registration for employees at state agencies.
  • Carry out the social insurance registration for employees.
  • Prepare invoices, documents, and income proof for employees to facilitate the filing and tax settlement for each employee.
  • Complete the tax settlement procedures for each employee within the business.
  • Establish a tax payment mechanism for employees in accordance with regulations.
  • Develop plans and propose solutions to resolve conflicts and disputes in labor relations between employees and the business.

Administrative procedures for Compensation and BenefitsAdministrative procedures for Compensation and Benefits

Why use C&B consulting services

C&B consulting services are an optimal and effective solution that assists businesses in human resource management and employee welfare implementation. Choosing C&B is a smart decision that enables businesses to achieve optimal profitability in their operations.

C&B consulting services offer the following benefits to businesses:

  • Maximize time and cost savings for the management of human resources, salaries, and employee benefits.
  • Provide businesses with the conditions to focus their time on building strategies for market development.
  • Ensure accuracy in the declaration and settlement of income taxes for employees.
  • Help businesses attract and develop talented personnel, laying the foundation for future business growth.
  • Establish a modern work culture that aligns with the needs of the workforce and the business’s strategic direction.
  • Enable businesses to control risks in labor relations and foster long-term cooperative relationships and development with talented employees.

C&B consulting experts, with years of experience in the consulting field and extensive knowledge of these issues, will provide businesses with peace of mind in their operations and guidance to avoid risks related to human resources.

C&B consulting services at Long Phan

When utilizing C&B consulting services at Long Phan, our customers will benefit from expert consultants who possess in-depth knowledge and extensive experience in the C&B field. The services provided cover specific areas, including:

  • Consultation and specific identification, presented in an easily understandable manner, regarding C&B in the business. This involves explaining, analyzing, and outlining the pros and cons of C&B.
  • Guidance on the specific tasks of the C&B department within the business.
  • Consultation on the process of providing human resources and payroll services.
  • Based on the business type and strategic direction, consultants will focus on developing recruitment policies, salary structures, and suitable benefits.
  • Planning, preparing invoices, and generating documents to support the processes of reporting and settling taxes for employees in the business.
  • Establishing and adjusting internal regulations and human resource management plans to foster long-term cooperation and mutual benefits between employees and the business.
  • Building relationships between the business and government agencies.
  • Monitoring, adjusting, and implementing the social insurance regime for employees.
  • Providing advice and guidance on administrative procedures related to state regulations in the C&B field within the business.
  • Identifying risks and benefits associated with using C&B in the business, thereby proposing preventive measures to optimize risk prevention.

In each specific case, our expert consultants tailor their advice to the actual situation within the business, offering the most suitable solutions. With experienced and dedicated professionals providing reputable services, we aim to ensure customer satisfaction when utilizing consulting services at Long Phan.

Consulting on Compensation and Benefits at Long PhanConsulting on Compensation and Benefits at Long Phan

Effective consultation service process

When providing consulting services to our valued clients, Long Phan always establishes a specific consulting process to ensure the efficient delivery of services, ultimately leading to customer satisfaction. This process is divided into several steps, each with specific content:

  • Step 1: Request Reception

Long Phan considers the reception of client information and requests as a crucial initial step in providing optimal C&B consulting services. The information provided by clients is recorded clearly and precisely, forming the basis for analyzing and evaluating client requirements.

  • Step 2: Analysis and Evaluation

After receiving complete information and specifying the client’s requirements, Long Phan proceeds to analyze the information and conduct an overall evaluation of the issue. In C&B consulting services, we base our analysis on the actual situation, business strategies, and the needs of the enterprise, assessing factors that impact the C&B department. A comprehensive evaluation determines the capabilities and development direction of C&B within the business, aligning with the client’s objectives.

  • Step 3: Development of Consulting Plan

Leveraging the results of the analysis and comprehensive evaluation, C&B experts at Long Phan construct a detailed and optimized consulting plan. This plan guides clients step by step, ensuring the successful achievement of their goals. The development of the plan is based on the analysis and evaluation of the information received initially.

  • Step 4: Solution Presentation and Proposal

The created C&B consulting plan outlines the problem-solving direction for the client. Based on this plan, our experts directly address client inquiries and challenges, providing explanations and proposing suitable solutions. Solutions and proposals related to client requirements in C&B consulting are presented clearly and concisely to ensure easy understanding.

  • Step 5: Implementation and Monitoring

Execution of C&B services is carried out under client approval. Depending on client needs, Long Phan provides corresponding C&B services partially or entirely within the business. We monitor the progress and effectiveness of implemented C&B solutions in real-world applications, making timely adjustments to align with changes.

C&B consulting services serve as intelligent support for businesses in HR-related activities. A deep understanding and effective application of C&B within an enterprise are essential for strategic development and market expansion. Recognizing this, Long Phan offers C&B consulting services to clients. For consultation inquiries, please contact the hotline at 090.673.5386 to receive assistance from our experts.

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