Understanding compensation practices and policies is crucial for any business owner, HR professional, or manager. In this introductory-level course, you will consider issues surrounding the key aspects of pay policy: legal requirements, pay equity within an organization, competitive pay within the relevant industry, how and when to grant raises, and different ways payment can be structured. Earn SHRM and HRCI credit as you develop your compensation expertise.

Learning Outcomes

• Differentiate between compensation systems
• Distinguish between legally mandated and discretionary benefits
• Explain how compensation and benefits relate to employee motivation
• Describe different healthcare plans and their advantages and disadvantages
• Identify the value of benefits that help employees achieve work-life balance
• Define pay for performance
• Define differential pay
• Describe methods of achieving pay equity
• Distinguish between employees and independent contractors
• Distinguish between exempt and nonexempt employees
• Comply with relevant state and federal "wage and hour" laws

Estimated length: 3 hours
Access time: 90 days

IACET CEUs: .3 (Contact Hours: 3 hours)HRCI Credits: 3 (Type: General)SHRM PDCs: 3