A compensation system is part of a total rewards system that, if designed correctly, engages and retains talent for an organization. This course delves into the details of the direct compensation system, the money that organizations pay employees. It covers the elements of a compensation system, the advantages and disadvantages of base and incentive pay, how to price jobs, the legal and ethical aspects of compensation, and the issue of pay equity. Learners will engage with real-world scenarios and case studies as they learn how to design and adjust a compensation system.
Credits
- 0.4IACET CEUs
- 4HRCI Credits
- 4SHRM PDCs
- 4ATD CI Credits
Learning Outcomes
- Identify components of a compensation system
- Analyze the role of compensation as part of a rewards system
- Describe how jobs are priced
- Explain how executive compensation drives performance
- Describe the role of compensation professionals in overseeing compensation-related functions
- Explain how to design a compensation system that supports an organization’s current workforce and attracts talent needed to achieve strategic goals
- Examine strategies for creating compensation packages in hybrid and remote work settings
- Identify and address ethical concerns around compensation
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