Benefits

Financial Protection, Growth & Assistance

ADP Learning Academy

This is a benefits-focused course for anyone interested in pursuing a career regarding financial protection, growth and assistance programs that a company may offer as part of the benefits strategy. You’ll explore finance-related programs common in many total rewards strategies, like insurance plans designed to protect employees’ finances. Then, you’ll evaluate growth and equity programs, with particular focus on the features of 401(k) and employee stock purchase plans (ESPP). Finally, you’ll learn about a growing rewards area – educational cost assistance. In the end, you’ll update and finalize the employee communication piece for the fictional company, Blue Space Tech Performance Group that you started in the Benefits: Health, Wellness, Work, and Lifestyle course.

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Syllabus

Module 1: Financial Protection Plans

The first module in this course looks at benefit options employers might choose to protect the financial well-being of their employees and the value this strategy provides to both the employer and employees. You’ll take a closer look at sick, disability, and leave options and at life, accidental death and dismemberment (AD&D), and critical illness insurance. Finally, you’ll explore some of the typical administrative tasks and the metrics used to evaluate the success of these types of programs. Once complete, you’ll have an imputed income worksheet and scenario responses to add to your project portfolio.

Module 2: Financial Growth and 401(k) Plans

In this section, you’ll look at plans designed to support employees’ financial growth – the different types and the value they create for both the organization and employees. You’ll get into the details of 401(k) plans – one of the most popular types in the market today. Finally, you’ll learn about the administrative responsibilities you may have as a Compensation and Benefits Analyst and the metrics used to measure the success of financial growth plans. In the end, you’ll have hands-on projects that demonstrate your ability to complete 401(k) calculations and evaluate the effectiveness of Blue Space Tech Performance Company’s 401(k) program.

Module 3: Financial Growth and Stock Purchase Plans

In this module, you will continue your look at financial growth with a focus on Employee Stock Purchase Plans (ESPP) – a common offering in larger, publicly-traded organizations. You’ll start with an exploration of why organizations include this type of program in their total rewards strategy. Then, you will investigate common program details, administration tasks, and evaluation metrics. In the end, you’ll have a contribution and calculation worksheet for your project portfolio.

Module 4: Educational Assistance Programs

In this module, you’ll learn how organizations use education assistance programs as part of their total rewards strategies. While you’ll evaluate different types of education assistance, you’ll focus on tuition reimbursement – common program aspects, administrative tasks, and evaluative metrics.

Module 5: Program Wrap Up

In this module, you’ll spend time updating your Benefits Frequently Asked Questions (FAQ) document to address questions regarding the financial benefits addressed in this course.

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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 Benefits: Financial Protection, Growth & Assistance with these activities:

Attend industry webinars or conferences

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Participate in industry-related events to connect with professionals, stay updated on trends, and expand your knowledge beyond the course materials.

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Identify relevant webinars or conferences
Register and attend the events
Network with attendees and speakers

Review financial planning techniques

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Refresh your understanding of basic financial planning concepts and techniques to better grasp the course materials.

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Review compound interest calculations
Explore different investment vehicles
Understand risk tolerance and diversification strategies

Explore best practices in benefits communication

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Follow online tutorials or resources to learn effective techniques for communicating benefits information to employees, ensuring they understand and appreciate their value.

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Research different communication channels
Develop clear and concise messages
Measure the effectiveness of your communications

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Design an employee benefits package

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Create a sample employee benefits package that aligns with the principles learned in the course, demonstrating your understanding of the various benefits and their impact on employee satisfaction.

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Research industry benchmarks and best practices
Identify relevant benefits based on employee demographics
Calculate costs and assess affordability

Discuss case studies with fellow learners

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Engage in discussions with other learners to analyze real-life scenarios, exchange perspectives, and deepen your understanding of benefits strategies.

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Review case studies and prepare talking points
Participate in online or in-person discussions
Summarize key learnings and insights

Analyze employee benefits data

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Practice analyzing employee benefits data to identify trends, assess program effectiveness, and make informed decisions.

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Collect and organize data from various sources
Use statistical methods to analyze data
Generate reports and present findings

Develop a presentation on financial literacy

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Prepare a presentation that simplifies and explains key financial concepts and strategies, demonstrating your ability to distill complex information for others.

Browse courses on Financial Literacy

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