This is a benefits-focused course for anyone interested in pursuing a career regarding financial protection, growth and assistance programs that a company may offer as part of the benefits strategy. You’ll explore finance-related programs common in many total rewards strategies, like insurance plans designed to protect employees’ finances. Then, you’ll evaluate growth and equity programs, with particular focus on the features of 401(k) and employee stock purchase plans (ESPP). Finally, you’ll learn about a growing rewards area – educational cost assistance. In the end, you’ll update and finalize the employee communication piece for the fictional company, Blue Space Tech Performance Group that you started in the Benefits: Health, Wellness, Work, and Lifestyle course.
Benefits: Financial Protection, Growth & Assistance
This course is part of ADP Entry-Level Compensation and Benefits Analyst Professional Certificate
Recommended experience
What you'll learn
Differentiate between different types of financial protection plans, including disability, life, accident, and critical illness insurance.
Define the purpose of financial growth plans and how a well-designed strategy can benefit employees and the organization's total rewards program.
List the basic features of defined benefit and defined contribution plans, with particular focus on details related to 401(k) plans.
Skills you'll gain
Details to know
Add to your LinkedIn profile
August 2024
9 assignments
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- Earn a shareable career certificate from Automatic Data Processing, Inc. (ADP)
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There are 5 modules in this course
The first module in this course looks at benefit options employers might choose to protect the financial well-being of their employees and the value this strategy provides to both the employer and employees. You’ll take a closer look at sick, disability, and leave options and at life, accidental death and dismemberment (AD&D), and critical illness insurance. Finally, you’ll explore some of the typical administrative tasks and the metrics used to evaluate the success of these types of programs. Once complete, you’ll have an imputed income worksheet and scenario responses to add to your project portfolio.
What's included
12 videos4 readings3 assignments
In this section, you’ll look at plans designed to support employees’ financial growth – the different types and the value they create for both the organization and employees. You’ll get into the details of 401(k) plans – one of the most popular types in the market today. Finally, you’ll learn about the administrative responsibilities you may have as a Compensation and Benefits Analyst and the metrics used to measure the success of financial growth plans. In the end, you’ll have hands-on projects that demonstrate your ability to complete 401(k) calculations and evaluate the effectiveness of Blue Space Tech Performance Company’s 401(k) program.
What's included
12 videos7 readings2 assignments1 discussion prompt
In this module, you will continue your look at financial growth with a focus on Employee Stock Purchase Plans (ESPP) – a common offering in larger, publicly-traded organizations. You’ll start with an exploration of why organizations include this type of program in their total rewards strategy. Then, you will investigate common program details, administration tasks, and evaluation metrics. In the end, you’ll have a contribution and calculation worksheet for your project portfolio.
What's included
8 videos4 readings2 assignments
In this module, you’ll learn how organizations use education assistance programs as part of their total rewards strategies. While you’ll evaluate different types of education assistance, you’ll focus on tuition reimbursement – common program aspects, administrative tasks, and evaluative metrics.
What's included
3 videos4 readings1 assignment
In this module, you’ll spend time updating your Benefits Frequently Asked Questions (FAQ) document to address questions regarding the financial benefits addressed in this course.
What's included
2 videos1 assignment
Instructor
Offered by
Recommended if you're interested in Business Strategy
Google Cloud
Automatic Data Processing, Inc. (ADP)
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