Compensation and Benefits

Overview

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This course examines the intricacies of the total rewards package for employment. You will learn how to structure a compensation strategy and evaluate benefit trends in the market. You will also learn about different benefit types and options as well as various pay systems and HR technology. By the end of this course, you will be able to: ● Explain the most common theories and motivational principles associated with total rewards ● Evaluate how your organization wants to structure compensation strategy ● Explain how job evaluation techniques are used to align compensation strategy with actual pay ● Explain different benefit types and options ● Appraise different types of pay systems No prior experience in Human Resources is needed to be successful in this course.

Syllabus

Introduction to Compensation and Benefits

This week you will define elements of compensation. You will also learn the different types of differential pay, making sure you understand when they apply. You will be able to describe the different compensation system elements in motivating employees.

Organization Structure and Compensation Strategy

In this upcoming week, you will describe the different elements that need to be considered when determining pay and be able to explain the difference between base pay and pay increases. You will also learn other forms of incentives as compensation. You will also explore different job evaluation techniques and describe pay performance.

Benefits

In this week, you will learn different benefits types and options. You will be able to explain the different benefit types and options, including healthcare and family oriented healthcare benefits. You will also identify types of retirement plans, highlighting major differences.

Payroll and Benefit Technology and Design

This week you will learn the core components of payroll and how to appraise different types of pay systems. You will also evaluate the needs for data protection and describe the types of claims that HR deals with.