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Do you want to learn more about the technical aspects of compensation but don't know where to start? We'll go over key technical skills such as pay regulation compliance, understanding stock options, shopping for health insurance and pension providers, and designing incentive plans. Finally, we'll talk about non-monetary ways to motivate employees. After completing the course, you should have a strategic and technical understanding of compensation. Learners will also gain a basic understanding of pay regulation in the United States.
Syllabus :
1. Pay Determination
- Overview of the Pay Model
- From a Pay Strategy to a Pay Mix
- Producing a Job Description
- Benchmarking Pay
- Surveys and the Labor Market
- Labor Supply and Labor Demand
- Salary Structure Terminology
- Salary Structures and Internal Benchmarks
- Criteria for Raises and Promotions
- Broadbanding
2. Pay for Performance
- Tying Pay to Performance Evaluations
- Should Pay Depend on Performance Evaluations?
- Designing Performance Evaluations
- To Incent or Not to Incent? (What are Short Term Incentives?)
- Should Jobs Use Short Term Incentives?
- Designing Incentives
- Varieties of Long Term Incentives
- Stock Options
- Examples of Long Term Incentives
3. Benefits and Compliance
- An Overview of US Employment Law
- Fair Labor Standards Act (FLSA) Protections and Coverage
- FLSA in Practice
- FLSA Exemptions
- Statutory Benefits
- Perks
- Strategic Benefits
- Shopping for Health Insurance Providers
- Affordable Care Act
- Pension Plans - Taxes and Types
- Shopping for Pension Providers
4. Non monetary Rewards
- Value to Employees
- Recognition
- Learn and Grow
- Flexibility
- Program Design
- What Can Go Wrong?
