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Managing Employee Compensation

Whether you're writing paychecks or wondering where yours comes from, this course is for you!

We begin by asking: "To succeed, what kind of a person does your organization need to attract, retain, and motivate?" From there, we'll explain how to align your organization's objectives, its pay philosophy, and ultimately the way it designs and implements its salary structure, short-term incentives, long-term incentives, and benefits.

Interested in learning more about the technical aspects of compensation, but don't know where to begin? We'll give an overview of key the key technical skills: compliance with pay regulations, understanding stock options, shopping for health insurance and pension providers, and designing incentive plans. Lastly, we'll discuss non-monetary methods of motivating employees.

Upon completing the course, you should be able to have an understanding of compensation both strategically and technically. Learners will also gain introductory familiarity with pay regulation in the US.

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What's inside

Syllabus

Pay Determination

This module covers designing a compensation strategy and translating that into a pay structure.

Pay for Performance

This module covers employee performance evaluations, raises and promotions, short-term incentives (like commissions), and long-term incentives (like stock options).

Benefits and Compliance

This module covers pay compliance, the Fair Labor Standards Act, statutory benefits (like OASDI), and non-statutory benefits (like 401ks).

NON-MONETARY REWARDS

In this module you will learn about Non-Monetary Rewards. These are very important rewards and are different from monetary rewards. At the end of this lesson you should be able to explain what a non-monetary reward is, describe different kinds of non-monetary rewards, and some ways to implement non-monetary rewards at your own company. So get ready, get started, and go for it!

Good to know

Know what's good

, what to watch for

, and possible dealbreakers

Develops compensation strategy, pay structures, performance evaluations and incentives, statutory and non-statutory benefits, and non-monetary rewards

Provides introductory familiarity with pay regulation in the US

Taught by Alan Benson and Mike Davis, recognized experts in compensation and benefits

Suitable for individuals interested in learning about compensation both strategically and technically

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Reviews summary

Very interesting course

Learners say that Managing Employee Compensation is very interesting and professional.

Engaging and professional

"Very interesting and professional."

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Managing Employee Compensation with these activities:

Join a compensation study group

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Find your peers to collaborate with on exchanging ideas, helping each other reinforce concepts, and solving problems together.

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Find other students who are taking this course.
Form a study group and meet regularly to discuss the course material.

Develop a compensation plan

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Develop a plan as a way to thoroughly consider strategies, objectives, and the design of compensation structures and incentives.

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Identify the objectives you want to achieve with your compensation plan.
Research different types of compensation structures and incentives.
Design a compensation plan that is aligned with your objectives and research.
Implement your compensation plan.
Evaluate the effectiveness of your compensation plan and make adjustments as needed.

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Career center

Learners who complete Managing Employee Compensation will develop knowledge and skills that may be useful to these careers:

Compensation Analyst

Compensation Analysts conduct research and analysis to develop and maintain compensation programs for their organizations. They work with HR and other departments to collect data on employee salaries and benefits, and use this data to create compensation plans that are fair and competitive. This course provides the knowledge and skills needed to succeed in this field. You will learn about the different types of compensation programs, how to conduct compensation research, and how to analyze data to develop sound compensation plans.

See salaries and explore the career path for Compensation Analyst

Compensation Manager

Compensation Managers are responsible for the development, implementation, and administration of employee compensation programs. They work closely with HR and other departments to ensure that compensation programs are aligned with the organization's business objectives and legal requirements. This course provides the knowledge and skills needed to succeed in this field. You will learn about the different types of compensation programs, how to design and implement them, and how to ensure that they are compliant with the law.

See salaries and explore the career path for Compensation Manager

Benefits Manager

Benefits Managers are responsible for the administration of employee benefits programs. They work with HR and other departments to design and implement benefits programs that are attractive to employees and that meet the needs of the organization. This course provides the knowledge and skills needed to succeed in this field. You will learn about the different types of employee benefits, how to design and implement benefits programs, and how to ensure that they are compliant with the law.

See salaries and explore the career path for Benefits Manager

HR Manager

HR Managers are responsible for the overall management of human resources within their organizations. They work with other departments to develop and implement HR policies and procedures, and they oversee the day-to-day operations of the HR department. This course provides the knowledge and skills needed to succeed in this field. You will learn about the different aspects of HR management, including compensation, benefits, employee relations, and labor law.

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Payroll Manager

Payroll Managers are responsible for the processing of payroll for their organizations. They work with HR and other departments to ensure that payroll is processed accurately and on time. This course provides the knowledge and skills needed to succeed in this field. You will learn about the different aspects of payroll processing, including payroll laws and regulations.

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Employment Lawyer

Employment Lawyers specialize in the laws that govern the relationship between employers and employees. They advise employers on how to comply with labor laws, and they represent employees who have been discriminated against or otherwise wronged by their employers. This course provides the knowledge and skills needed to succeed in this field. You will learn about the different types of employment laws, how to advise clients on compliance, and how to represent employees in court.

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Human Resources Consultant

Human Resources Consultants provide advice and guidance to organizations on a variety of HR-related issues, including compensation, benefits, and employee relations. They work with clients to develop and implement HR policies and procedures, and they provide training and support to employees. This course provides the knowledge and skills needed to succeed in this field. You will learn about the different aspects of HR management, including compensation, benefits, employee relations, and labor law.

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Labor Relations Manager

Labor Relations Managers are responsible for managing the relationship between employers and unions. They work with union representatives to negotiate collective bargaining agreements, and they represent employers in grievance proceedings. This course provides the knowledge and skills needed to succeed in this field. You will learn about the different aspects of labor relations, including collective bargaining, grievance procedures, and labor law.

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Training and Development Manager

Training and Development Managers are responsible for the development and implementation of training programs for their organizations. They work with other departments to identify training needs, and they develop and deliver training programs that meet those needs. This course may be useful for Training and Development Managers who want to learn more about compensation and benefits. You will learn about the different types of compensation programs, how to design and implement them, and how to ensure that they are aligned with the organization's business objectives.

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Organization Development Consultant

Organization Development Consultants help organizations to improve their performance through changes in their structure, culture, and processes. They work with clients to identify areas for improvement, and they develop and implement plans to address these areas. This course may be useful for Organization Development Consultants who want to learn more about compensation and benefits. You will learn about the different types of compensation programs, how to design and implement them, and how to ensure that they are aligned with the organization's business objectives.

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Performance Management Consultant

Performance Management Consultants help organizations to improve their performance through improvements in their performance management systems. They work with clients to identify areas for improvement, and they develop and implement plans to address these areas. This course may be useful for Performance Management Consultants who want to learn more about compensation and benefits. You will learn about the different types of compensation programs, how to design and implement them, and how to ensure that they are aligned with the organization's business objectives.

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Compensation Specialist

Compensation Specialists work with HR and other departments to develop and implement compensation programs. They conduct research on compensation trends, and they advise employers on how to design and implement compensation programs that are competitive and fair. This course provides the knowledge and skills needed to succeed in this field. You will learn about the different types of compensation programs, how to conduct compensation research, and how to design and implement compensation plans.

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Employee Benefits Consultant

Employee Benefits Consultants help organizations to design and implement employee benefits programs. They work with clients to identify their needs, and they develop and implement benefits programs that meet those needs. This course may be useful for Employee Benefits Consultants who want to learn more about compensation. You will learn about the different types of compensation programs, how to design and implement them, and how to ensure that they are aligned with the organization's business objectives.

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Actuary

Actuaries use mathematical and statistical techniques to assess risk and uncertainty. They work with insurance companies, pension funds, and other organizations to develop and manage risk management programs. This course may be useful for Actuaries who want to learn more about compensation and benefits. You will learn about the different types of compensation programs, how to design and implement them, and how to ensure that they are aligned with the organization's business objectives.

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Healthcare Actuary

Healthcare Actuaries use mathematical and statistical techniques to assess risk and uncertainty in the healthcare industry. They work with health insurance companies, hospitals, and other healthcare organizations to develop and manage risk management programs. This course may be useful for Healthcare Actuaries who want to learn more about compensation and benefits. You will learn about the different types of compensation programs, how to design and implement them, and how to ensure that they are aligned with the organization's business objectives.

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Reading list

We've selected 13 books that we think will supplement your learning. Use these to develop background knowledge, enrich your coursework, and gain a deeper understanding of the topics covered in Managing Employee Compensation.

Global Political Economy

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Provides a comprehensive overview of all aspects of compensation, including job evaluation, pay structure design, and incentive pay. It valuable resource for anyone who wants to learn more about compensation.

Managing Employee Compensation

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What's inside

Syllabus

Good to know

Save this course

Reviews summary

Very interesting course

Activities

Career center

Reading list

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