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Compensation and Benefits

Brad Boyson and Rhea Bautista

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.

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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.

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What's inside

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.
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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.

Good to know

Know what's good
, what to watch for
, and possible dealbreakers
Teaches professional skills in a high-growth industry
Develops a strong understanding of job evaluation
Explores core elements of compensation and benefits
Examines various pay systems
Covers essential topics for HR professionals
Provides a foundation for advanced study in compensation and benefits

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Activities

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Career center

Learners who complete Compensation and Benefits will develop knowledge and skills that may be useful to these careers:
Compensation and Benefits Manager
The Compensation and Benefits Manager course from HRCI covers essential principles and practices related to employee compensation and benefits. This course can help you build a strong foundation in compensation and benefits management, which is crucial for this role. You will gain a comprehensive understanding ofCompensation and Benefits Manager compensation strategy, job evaluation techniques, different benefit types and options, and pay systems. This knowledge will enable you to effectively design, implement, and manage compensation and benefits programs that align with organizational objectives and employeemotivations.
Human Resources Manager
The Compensation and Benefits Manager course from HRCI provides a comprehensive overview of the principles and practices of compensation and benefits management. This course can help you build a solid foundation in this field, which is essential for success as a Human Resources Manager. You will gain a thorough understanding of compensation strategy, job evaluation techniques, different benefit types and options, and pay systems. This knowledge will enable you to effectively manage the compensation and benefits function within an organization.
Compensation Analyst
The Compensation and Benefits Manager course from HRCI covers the essential principles and practices of compensation and benefits management. By taking this course, you will gain a strong foundation in this field, which is crucial for success as a Compensation Analyst. You will learn about compensation strategy, job evaluation techniques, different benefit types and options, and pay systems. This knowledge will enable you to effectively design, implement, and manage compensation programs that are aligned with organizational objectives.
Benefits Analyst
The Compensation and Benefits Manager course from HRCI provides a comprehensive overview of the principles and practices of compensation and benefits management. This course can help you build a solid foundation in this field, which is essential for success as a Benefits Analyst. You will gain a thorough understanding of different benefit types and options, as well as the legal and regulatory environment surrounding employee benefits. This knowledge will enable you to effectively design, implement, and manage benefits programs that meet the needs of employees and the organization.
Payroll Administrator
The Compensation and Benefits Manager course from HRCI provides a comprehensive overview of the principles and practices of compensation and benefits management, including payroll administration. By taking this course, you will gain a solid foundation in this field, which is essential for success as a Payroll Administrator. You will learn about different pay systems, payroll processing, and the legal and regulatory environment surrounding payroll. This knowledge will enable you to effectively manage the payroll function within an organization.
Compensation and Benefits Specialist
The Compensation and Benefits Manager course from HRCI provides a comprehensive overview of the principles and practices of compensation and benefits management. This course can help you build a solid foundation in this field, which is essential for success as a Compensation and Benefits Specialist. You will gain a thorough understanding of compensation strategy, job evaluation techniques, different benefit types and options, and pay systems. This knowledge will enable you to effectively design, implement, and manage compensation and benefits programs that meet the needs of employees and the organization.
Human Resources Consultant
The Compensation and Benefits Manager course from HRCI provides a comprehensive overview of the principles and practices of compensation and benefits management. This course can help you build a solid foundation in this field, which can be beneficial for HR Consultants who provide guidance on compensation and benefits to their clients.
Employee Benefits Specialist
The Compensation and Benefits Manager course from HRCI provides a comprehensive overview of the principles and practices of compensation and benefits management, with a focus on employee benefits. This course can help you build a solid foundation in this field, which is crucial for success as an Employee Benefits Specialist. You will gain a thorough understanding of different benefit types and options, as well as the legal and regulatory environment surrounding employee benefits. This knowledge will enable you to effectively design, implement, and manage benefits programs that meet the needs of employees and the organization.
HR Business Partner
The Compensation and Benefits Manager course from HRCI provides a comprehensive overview of the principles and practices of compensation and benefits management, which are essential for HR Business Partners to understand. By taking this course, you will gain a solid foundation in this field, which can help you provide more effective support to your clients.
Organizational Development Specialist
The Compensation and Benefits Manager course from HRCI provides a comprehensive overview of the principles and practices of compensation and benefits management, which can be beneficial for Organizational Development Specialists. By taking this course, you will gain a solid foundation in this field, which can help you better understand the compensation and benefits implications of your organizational development initiatives.
Talent Acquisition Specialist
The Compensation and Benefits Manager course from HRCI provides a comprehensive overview of the principles and practices of compensation and benefits management, which can be beneficial for Talent Acquisition Specialists. By taking this course, you will gain a solid foundation in this field, which can help you better understand the compensation and benefits packages that you are offering to candidates.

Reading list

We've selected six 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 Compensation and Benefits.
Covers different approaches of organizations such as the ability to pay, market pricing, and the individual's contribution or worth to the organization.
Helps the reader understand employee benefit plans. It covers important topics such as the Affordable Care Act, welfare benefit plans, retirement plans, and executive compensation.
Provides a comprehensive overview of compensation and benefits. It useful resource for HR professionals and employees alike.
Is especially useful for HR professionals seeking to effectively design and manage employee compensations.
This textbook provides a comprehensive overview of human resource management, including chapters on compensation and benefits. It good resource for students and practitioners in the field.
Aids those who are interested in understanding the strategic approach to compensation management.

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