Compensation Basics
Learn how to set up a base compensation plan for your company.
CEUs 
Location Compensation Basics
Learn how to set up a base compensation plan for your company.
What you’ll be able to do — competencies
- Identify the major provisions of laws affecting compensation
- Explain compensation philosophy, strategy, and current practices, including job evaluation, base pay, variable pay, and incentive pay
- Describe how to pay people appropriately, motivate, and retain them to become a preferred employer
- Prepare a basic compensation plan and salary structure for an organization
- Explore current compensation practices and strategies affecting compensation
Course description
How do you pay your staff appropriately, as well as motivate and retain them while not “giving away the store” or causing potential legal issues? How do you set up a base compensation plan for your company? Explore methods to properly pay your employees in a cost-effective, competitive, equitable and legal manner. Examine compensation philosophy, strategy and current practices including legal issues, base pay plans, incentive and sales compensation, and executive pay issues. Strategize establishment of a base compensation plan for your company.
Syllabus
Session 1 Topics
- Recognize and understand what makes up total compensation and explore current compensation practices and strategies affecting compensation
- Introduction to compensation practices and terms
- Insight into current issues and practices
- Explore current legal trends and executive pay issues
Session 2 Topics
- Identify the major provisions of laws affecting compensation
- Perceptions of pay and fairness and a company’s responsibility
- Introduction to legal aspects of compensation
- FLSA
- Current legal trends
Session 2 Assignments
- Read Chapter 11
Session 3 Topics
- Prepare a basic compensation plan and salary structure for an organization
- Development of basic base pay plan
- Development of a basic salary structure
- Understanding pay surveys and where to get accurate information
Session 3 Assignments
- Work on team case study
Session 4 Topics
- Explain compensation philosophy, strategy, and current practices, including job evaluation, base pay, variable pay, and incentive pay
- Pay increases
- Incentives or variable pay
- Executive compensation
Session 4 Assignments
- Read Chapter 12
- Work on team case study
Session 5 Topics
- Describe how to pay people appropriately, motivate, and retain them to become a preferred employer
- Putting it all together and practicing with case studies
- Group project and sharing of several different case studies
- Strategies to communicate compensation
Session 5 Assignments
- Present team case study assignment
Next available start dates
Online — Weekends
Compensation Basics
Total classroom hours
15 hours
Schedule
Online
Weekends, 8:15 AM - 12:00 PM, 4 S - 1/23/2021 - 2/13/2021
Total cost
$299
Instructor: Ren'ee Mangini, SPHR
Notes
"Online courses require an internet connection and the ability to interact both through audio and video using either a web cam/microphone, speakers/headset using a computer or via a mobile phone connection. Any costs associated with connectivity or equipment are the responsibility of the student.
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