This course is for anyone who wants to begin their exploration of the benefits component of total rewards. Here, you will learn how to ensure your organization’s benefit strategy is valuable for both the organization and employees, competitive, and fair. You will also learn about various laws and regulations that impact benefit strategy design and administration. Finally, you will explore the Compensation and Benefits Analyst role in successfully administering the benefits strategy and apply what you have learned by evaluating the benefits strategy of a fictional company, Blue Space Tech Performance, and creating an annual planning calendar.
Overview
Syllabus
- Module 1: Introduction to Benefits Strategies and Regulatory Topics
- Your exploration of benefits begins with a deeper look at the value they add to total rewards. You’ll also explore the legal aspects of benefits and benefit administration and why staying current in this arena is so important to the Compensation and Benefits Analyst.
- Module 2: Designing Benefits Strategies
- In this module, you’ll look at benefits strategy design in detail, starting with the three main factors that shape a strategy. You’ll walk through a design process and best practices that better ensure your strategy is data-driven and inclusive. Finally, you’ll apply your learning to Blue Space Tech Performance Company’s strategy for competitiveness, value, and potential bias.
- Module 3: Administering, Evaluating, and Communicating Your Benefits Strategy
- In this section of the course, you’ll learn about a key area of the Compensation and Benefits Analyst role: administering, evaluating, and communicating your organization’s benefits strategy and programs. You’ll start by identifying common responsibilities, the importance of clarifying team members’ roles, and planning for those duties to ensure they’re completed effectively. You’ll then consider best practices in evaluating strategy and program effectiveness, including slicing data across employee groups. Finally, you’ll explore the value created by a successful communication strategy and elements to increase its effectiveness.
Taught by
ADP Learning Academy
