Compensation Fundamentals
In today’s economy, it is critical for an organization to offer a competitive compensation package that is appealing to potential employees as well as cost effective for the company. This course covers the essentials of compensation management, including organizational strategies; program development and design; important terms and definitions; and a review of the related legal environment. You will use examples from your own work environments to immediately integrate your new knowledge and skills into your compensation responsibilities.
Workplace Applications:
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Identify and use competitive practice information
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Know applicable government regulations, including reporting and disclosure requirements
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Review variable pay programs and how to create an appropriate pay structure design
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Understand and apply appropriate job analysis and evaluation processes
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Realize the importance of identifying the organization’s philosophy, objectives and strategy