Workforce Compensation

Overview/Description
 This course will provide an overview of the objectives, procedures and issues surrounding direct compensation (i.e., wage and salary administration), incentive pay, and indirect compensation (statutory and voluntary benefits programs).

Target Audience
 Business professionals with less than two year's experience in Human Resources. Also non-HR business professionals desiring a fast track introduction to the business Human Resources function.

Expected Duration
2.5 hours

Lesson Objectives:

Wage and Salary Administration

  • identify the issues involved in creating a compensation system that brings value to the organization.
  • describe the strategic issues that drive the development of different types of compensation systems.
  • describe the factors associated with conducting appropriate job evaluations.
  • distinguish between the salient characteristics of the ranking and the classification methods of job evaluation.
  • identify the salient characteristics of the point method of job evaluation.
  • identify the salient characteristics associated with conducting pay surveys.
  • use simple graphs to identify pay structure issues found in compensation policies.
  • identify any of five common pay issues that occur in the workplace.
  • identify the salient characteristics of a formal compensation policy.

    • Incentives

  • make appropriate assumptions applicable to designing incentives programs in an organization.
  • identify some of the advantages and drawbacks of incentive programs.
  • identify salient characteristics of individualized incentive programs.
  • identify key issues that should be considered when implementing team incentive programs.
  • identify salient characteristics of typical company-wide incentive programs.

    • Benefits

  • recognize the importance of a benefits program as it reflects an organization's objectives and philosophy.
  • identify the issues involved in developing a formal benefits policy.
  • identify the salient characteristics of legally-mandated benefits.
  • identify the salient characteristic of voluntary benefits.

    • Course Number: HR0103