Learning Options

Compensation Fundamentals
Seminar

Learn the Most-used Facts and Information

This introductory seminar is designed to familiarize attendees with the process of total rewards compensation design and decision-making considerations. It focuses on both the impact and characteristics of a compensation system.

• Discuss elements of a total rewards program, the total rewards model and elements of compensation
• Gain an understanding of the laws and regulations within which compensation programs operate
• Learn about the sequential processes of job analysis, job documentation and job evaluation
• Address the issue of external competitiveness — job pricing and the use of labor market data to determine competitive position
• Discuss pay determination systems and learn alternatives commonly used in companies

Who Should Attend

This class will benefit all functional managers and supervisors; human resource, financial and payroll personnel; small-business owners; entrepreneurs; and members of job-evaluation or compensation committees.

What You Will Learn

The Compensation Component of Total Rewards

• Definition of total rewards
• Total rewards model
• Why the total rewards approach?
• The total rewards design process
• Compensation
• Elements of compensation
• Objectives of compensation
• Compensation goals and tools

Legal/Regulatory Environment

• Pay and legal issues—how much do you know?
• Fair Labor Standards Act
• Equal Pay Act
• Title VII—Civil Rights Act
• Other statutes and regulations

Job Evaluation

• Terms and definitions
• Job analysis
• Job documentation
• Job description format
• Job evaluation

External Competitiveness & Pay Structures

• Job pricing
• Relevant labor markets
• Types of compensation information available
• Sources of survey data
• Data analysis
• Determining market position
• Developing a base pay policy line
• Organization response to market data
• Pay range design issues
• Maintaining pay structures

Base Pay Determination

• Pay approaches
• Job-based pay
• Person-based pay
• Range divisions
• Position in range
• Merit pay
• Characteristics of a sound performance appraisal system
• Alternatives to base pay
• Effective compensation strategies

	Credits Recertification: 1 credit CEUs: .75 credits PHR/SPHR/GPHR recertification hours: 7
	Faculty