PROGRAM OVERVIEW
Gain the necessary insight to kick-start your journey in compensation. Explore the fundamentals of compensation, including key  legislation, identifying the steps involved for administering and  maintaining a compensation system, and communicating compensation plans to your organization.
Engage in practical-application activities and discuss incentive  pay, compensation for critical business needs, and recent compensation developments. Obtain the essential knowledge you  need as a new compensation practitioner.
 
PROGRAM OBJECTIVES
This program is designed to provide you with the knowledge and skills necessary to:
Identify laws that affect compensation
Understand how business strategy and compensation philosophy guide a total rewards program
Establish job value utilizing internal and external methods and develop pay structures
Administer and communicate compensation programs
Understand and evaluate short-term and long-term incentive plans
Recognize the components of executive compensation
 
PROGRAM OUTLINE
SECTION 1: Introduction
 
SECTION 2: Applicable Laws
Key Legislation Affecting  Compensation
Pay Equity Laws
Federal, State and Local  Laws
Legal Scenario
 
SECTION 3: How Business Strategy Drives Compensation Strategy
Business Strategy Examples
What Is a Compensation Philosophy?
Components of a Compensation Philosophy
 
SECTION 4: Establishing the Value of Jobs
The Importance of Job Descriptions
Internal Job Value
Point Factor System Activity
External Job Value
Survey Data Collection  Activity
Internal Job Value vs.  External Job Value
 
SECTION 5: Pay Structures
Pay Range Adjustments
Market Adjustments
Merit Increases
Step Increases
Promotions
 
SECTION 6: Pay Administration
Pay Range Adjustments
Market Adjustments
Merit Increases
Step Increases
Promotions
 
SECTION 7: Communication
Transparency Matrix
Total Compensation Statements
Difficult Compensation Conversations
 
SECTION 8: Show Me the Motivation
Motivation Models         
Top Three Retention Tools
The Puzzle of Motivation
 
SECTION 9: Bonus Plans and Other Short-term Incentives
What is Variable Compensation?
Bonus Plans
Assigning Performance Measures Activity
 
SECTION 10: Sales Incentives
Types of Sales Roles
Sales Measures and Parameters
What Would You Do?
 
SECTION 11: Pay Equity
What is Pay Equity?
Gender Pay Gap
Wage Data
State and Federal Laws Impacting Equal Pay
Compensation Discrimination
Pay Equity Activity
 
SECTION 12: Think Like an Owner
Equity
Long-Term Incentive (LTI)
Profit Sharing
Employee Stock Ownership Plan (ESOP)
 
SECTION 13: Executive Compensation Overview
The Compensation Package
Executive Total  Compensation
 
SECTION 14: Current Trends in Compensation
Firing the Performance  Review
Merit Budgets
Fair Labor Standards Act (FLSA)
Minimum Wage and Living Wage
 
SECTION 15: Conclusion
 
Recertification
SHRM: 15 PDCs