Strategic Approaches to Total Rewards
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- Description: One of the largest expenditures for organizations is often employee salaries and benefits. Developing an integrated compensation and benefits program that aligns with strategic goals is essential for HR today. This course examines how compensation and benefits programs are changing. The course looks at how the total rewards system is becoming more popular and assesses how organizations need to revisit their compensation and benefits program to better fit their strategic goals and objectives. All the topics in this course are based on the Total Rewards functional area of the HR Body of Knowledge recommended by the Society for Human Resource Management (SHRM). This course prepares HR professionals and managers who are preparing for the Human Resource Certification Institute's Senior Professional in Human Resources (SPHR) certification examination. Due to the rapidly changing nature of the law, information in this course may become outdated.
- Target audience: Human resource managers; leaders and professionals who are preparing for the Human Resource Certification Institute's (HRCI) Senior Professional in Human Resources (SPHR) certification examination; compensation and benefits analysts; staffing managers; recruitment consultants
- Estimated Duration: 2 hours
- Lesson Objectives: Strategic Approaches to Total Rewards (HRCI/SPHR - 2007-aligned)
identify the benefits of using a total compensation strategy
match the components of total compensation to their examples
differentiate between broadbanding and variable pay
recognize how to implement a strategic compensation process in a given scenario
identify the common characteristics of an executive compensation package
recognize how to implement a strategic compensation system evaluation
identify issues that affect total compensation when dealing with expatriates and foreign nationals
identify the factors that influence employers to provide indirect compensation
recognize the importance of being able to analyze and administer company benefits effectively
recognize examples of solutions to problems associated with benefits
recognize the elements to consider when developing a benefits policy
sequence the steps of a benefit needs analysis
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