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Fundamentals of Compensation Strategies

ADP Learning Academy

The Fundamentals of Compensation Strategies introduces you to the key element of total rewards: compensation. In this course, you’ll gain greater awareness of the different types of compensation and how the value of each type may vary depending on the organization and employee’s needs. You’ll look at regulatory topics that impact the compensation field and factors that promote fairness, transparency, and accountability. In the latter half of the course, you’ll look at designing a compensation strategy and the role the Compensation and Benefits Analyst plays in administering and managing to strategy elements.

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What's inside

Syllabus

Module 1: Introduction to Compensation and Regulatory Topics
In this module of the compensation section of your program, you’ll explore fundamental compensation concepts. You’ll start with the different types of direct compensation and the points in time when employees are likely to experience changes in those compensation areas. Then, you’ll learn about regulations that influence compensation and compensation strategies, including a closer look at the Fair Labor Standards Act, definitions of exempt and non-exempt and how it impacts base compensation. Finally, after a closer look at both variable and equity compensation, you’ll consider the importance of staying current on compensation regulations and trends.
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Traffic lights

Read about what's good
what should give you pause
and possible dealbreakers
Teaches about the various types of compensation and how their value varies depending on the organization and employee
Examines regulatory topics that impact the field of compensation, including the Fair Labor Standards Act
Focuses on designing compensation strategies and the role of the Compensation and Benefits Analyst
Taught by instructors from ADP Learning Academy

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Reviews summary

Solid foundation in compensation strategies

According to students, this course offers a solid foundation in compensation strategies, making it highly relevant for HR professionals and aspiring Compensation Analysts. Learners consistently praise its well-structured modules and the clear explanation of complex concepts, including different types of compensation and regulatory topics like FLSA. Many found the practical examples and the focus on designing a compensation strategy particularly valuable. However, a minority of reviewers, especially those with prior experience, felt the content was too basic or generic and desired more depth, indicating it is best suited for beginners in the field rather than seasoned professionals.
One older review noted outdated content; less recent feedback.
"Some of the information felt a bit outdated, especially concerning market trends. Perhaps it needs an update..."
"The content was generic, but I didn't find specific parts outdated like some older reviews mentioned, just basic."
"I found the material current enough for fundamental concepts, though perhaps not cutting-edge on all trends."
Content is well-organized and concepts are explained clearly.
"The modules were well-structured and easy to follow."
"The instructor did a great job explaining complex concepts simply."
"Very well-organized course. The information on variable and equity compensation was presented clearly."
"Clear and concise. It helped me structure my understanding of compensation policies."
Highly applicable for HR roles and compensation analysts.
"I found this course highly relevant for my career as an HR professional and aspiring Compensation Analyst."
"The section on regulatory topics like FLSA was incredibly helpful for my current role as an HR professional."
"The course clearly outlines the role of a Compensation and Benefits Analyst, which was directly relevant to my career."
"I feel much more confident in discussing compensation strategies with leadership."
Provides an excellent basis for understanding compensation.
"This course provided an excellent foundation in compensation strategies."
"As a new Compensation Analyst, this course was exactly what I needed. It clarified the different types of compensation..."
"Extremely useful for understanding the basics. The course covered all the essential elements of compensation."
"I gained a solid foundation from completing this course, feeling much more confident."
May be too basic or generic for those with prior experience.
"Good overview, but I was hoping for more depth on advanced compensation models. It's truly for beginners."
"Found this course to be quite generic. I didn't feel I gained many new, actionable insights."
"Waste of time. No practical application for me. It's just a general overview and lacks specific tools or templates."
"If you have some experience, you might find it too basic."

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 Fundamentals of Compensation Strategies with these activities:
Review Wage and Hour Laws
Understand the legal framework surrounding compensation before diving into the specifics of compensation strategies.
Show steps
  • Read articles and blog posts about wage and hour laws.
  • Review the Fair Labor Standards Act (FLSA) website.
  • Attend a webinar or workshop on wage and hour compliance.
Read 'Compensation' by Milkovich and Newman
Gain foundational knowledge of compensation principles and practices from leading experts in the field.
View Compensation on Amazon
Show steps
  • Read the chapters on compensation strategy and design.
  • Take notes and highlight key concepts.
  • Complete the chapter exercises.
Create a Compensation Study Guide
Organize your notes and materials to reinforce your understanding of key concepts in compensation strategies.
Show steps
  • Gather your notes, handouts, and other materials from the course.
  • Organize your materials by topic.
  • Create summaries and outlines of the key concepts.
  • Use your study guide to review the material regularly.
Five other activities
Expand to see all activities and additional details
Show all eight activities
Attend a Compensation and Benefits Workshop
Engage with industry practitioners and learn about best practices in compensation and benefits management.
Show steps
  • Research and identify relevant compensation and benefits workshops.
  • Register for and attend the workshop.
  • Actively participate in the workshop sessions.
  • Network with other attendees.
Complete the LinkedIn Learning Course on Compensation Management
Gain practical guidance on the fundamentals of compensation management from industry experts.
Show steps
  • Enroll in the LinkedIn Learning course on Compensation Management.
  • Complete the course modules and quizzes.
  • Participate in the course discussions.
  • Apply the concepts you learn to your current or future work.
Develop a Compensation Case Study
Apply your understanding of compensation strategies to a real-world scenario by creating a comprehensive case study.
Show steps
  • Choose a specific industry and company to analyze.
  • Research the company's compensation practices.
  • Identify areas for improvement in the company's compensation strategy.
  • Develop recommendations for how to improve the company's compensation strategy.
  • Present your findings to the class.
Participate in a Compensation Simulation Challenge
Test your skills in designing and implementing compensation strategies in a simulated real-world environment.
Show steps
  • Join or form a team to participate in the challenge.
  • Develop a compensation strategy for the simulated company.
  • Implement your strategy and track your results.
  • Analyze your results and make adjustments to your strategy as needed.
  • Present your findings and recommendations to a panel of judges.
Volunteer as a Compensation Mentor
Share your knowledge and help others develop their skills in compensation strategies.
Show steps
  • Join a mentorship program or volunteer to mentor individuals interested in compensation.
  • Meet with your mentees regularly to provide guidance and support.
  • Share your experiences and insights on compensation strategies.
  • Provide feedback on your mentees' work and help them develop their skills.
  • Attend industry events and workshops together to expand your knowledge and network.

Career center

Learners who complete Fundamentals of Compensation Strategies will develop knowledge and skills that may be useful to these careers:

Reading list

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Course image
Effort
8 hours to complete
Level
Introductory
Via
Coursera
Institution
Automatic Data Processing, Inc. (ADP)
Instructor
ADP Learning Academy
Language
English
Traffic lights
Read about what's good
what should give you pause
and possible dealbreakers
Teaches about the various types of compensation and how their value varies depending on the organization and employee
Examines regulatory topics that impact the field of compensation, including the Fair Labor Standards Act
Focuses on designing compensation strategies and the role of the Compensation and Benefits Analyst
Taught by instructors from ADP Learning Academy
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