Employee Compensation and Benefits

November 2, 2024
Categories: Professional Skills

Employee compensation can be the deciding factor in whether or not a candidate accepts a job position. It can also be the deciding factor in whether a company can afford to hire additional employees. Every organization, large and small must determine the pay structure for its employees; compensation and benefits administrators are the key specialists in charge of managing the impact of compensation and benefits packages on an organization’s bottom line, while ensuring fair and equitable pay rates for employees.

This course provides an overview of the strategic choices that employers must make when developing a total rewards system. Participants in this course will learn how to design, implement, administer, and evaluate their in-house reward system.

What Participants Will Learn

  • Regulate employees legally and to market standards
  • Recognize common reasons reward systems fail and how to avoid them
  • Conduct “job evaluations” and not be dependent on compensation consultants
  • Acknowledge the legal extent of the employer’s ability to affect pay (garnishments, salary status, over time
  • Calculate overtime pay (most employers can’t do this properly)
  • Design an incentive system to stimulate performance