Compensation Basics

Learn how to set up a base compensation plan for your company.

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Course details

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Registration details

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

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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

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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

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Compensation Basics
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Total classroom hours

15 hours

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Schedule

Online

Weekends, 8:15 AM - 12:00 PM, 4 S - 1/23/2021 - 2/13/2021

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Total cost

$299

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Instructor: Ren'ee Mangini, SPHR

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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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