The Fundamentals of Compensation Strategies introduces you to the key element of total rewards: compensation. In this course, you’ll gain greater awareness of the different types of compensation and how the value of each type may vary depending on the organization and employee’s needs. You’ll look at regulatory topics that impact the compensation field and factors that promote fairness, transparency, and accountability. In the latter half of the course, you’ll look at designing a compensation strategy and the role the Compensation and Benefits Analyst plays in administering and managing to strategy elements.
Fundamentals of Compensation Strategies
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Fundamentals of Compensation Strategies
This course is part of ADP Entry-Level Compensation and Benefits Analyst Professional Certificate
Instructor: ADP Learning Academy
Included with 
Gain insight into a topic and learn the fundamentals.
Beginner level
Recommended experience
8 hours to complete
3 weeks at 2 hours a week
Flexible schedule
Learn at your own pace
What you'll learn
The value created by an effective compensation strategy for both the employer and employees.
The regulations that influence compensation strategies, offerings, and administration.
The main factors and risks to consider when designing a compensation strategy that promotes fairness, transparency, and accountability.
How to use key metrics to evaluate the effectiveness of a company strategy.
Skills you'll gain
Details to know
Shareable certificate
Add to your LinkedIn profile
Recently updated!
July 2024
Assessments
8 assignments
Taught in English
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This course is part of the ADP Entry-Level Compensation and Benefits Analyst Professional Certificate
When you enroll in this course, you'll also be enrolled in this Professional Certificate.
- Learn new concepts from industry experts
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There are 3 modules in this course
In this module of the compensation section of your program, you’ll explore fundamental compensation concepts. You’ll start with the different types of direct compensation and the points in time when employees are likely to experience changes in those compensation areas. Then, you’ll learn about regulations that influence compensation and compensation strategies, including a closer look at the Fair Labor Standards Act, definitions of exempt and non-exempt and how it impacts base compensation. Finally, after a closer look at both variable and equity compensation, you’ll consider the importance of staying current on compensation regulations and trends.
What's included
12 videos18 readings2 assignments1 discussion prompt
Now that you’re familiar with elements of compensation and related regulations, you’ll start to explore how these elements come together to create and support the compensation area of an organization’s total rewards strategy. You’ll begin by looking at common approach to creating the strategy, starting with defining the organization’s compensation philosophy. From there, you’ll touch on compensation-specific data sources and considerations, as well as common issues you may find in analyzing that data.
What's included
3 videos9 readings3 assignments1 discussion prompt
In this module of this course, you’ll turn your attention to some of the key responsibilities for a Compensation and Benefits Analyst: administering, communicating, and evaluating your organization’s compensation strategy and programs.
What's included
7 videos5 readings3 assignments
Instructor
Offered by
Recommended if you're interested in Business Strategy
Automatic Data Processing, Inc. (ADP)
Automatic Data Processing, Inc. (ADP)
University of Minnesota
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Frequently asked questions
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