Basics of Compensation
Unlike cars, employees don’t come with a sticker price.
So how do you really know what a fair—and competitive—compensation package is?
“The Basics of Compensation” provides a framework for understanding compensation issues and techniques. Designed for new compensation specialists, HR Managers, or financial professionals with compensation or payroll responsibilities, this half-day course presents practical information on the fundamentals of the Fair Labor Standards Act and other laws affecting pay. You will learn how to properly classify jobs as exempt or nonexempt, understand the basics of job analysis and other compensation tools used to design, develop and/or realign a compensation program to ensure compliance with wage issues while attracting top talent.
- Understand the considerations to develop a compensation philosophy and strategy
- Review legislation affecting pay
- Understand the building blocks used in the development of direct pay systems
- Define the components which make up work and use this in job analysis & job descriptions
- Understand the types of job evaluation
- Explore types of base pay structures