Compensation and Benefits: Regulations, Strategies, and Needs Assessment

Overview/Description
This course examines compensation and benefits programs – often referred to as total rewards programs – and their importance and impact on organizational objectives. It provides instruction on the applicable federal laws and regulations related to compensation and benefits programs as well as applicable tax regulations. This course also provides instruction on how to budget and account for compensation and benefits programs. Instruction is also provided on common compensation and benefits strategies and how to perform compensation and benefits needs assessments in order to better understand what type of approach is best suited for the organization in question. This course is created to help HR professionals preparing for the Human Resource Certification Institute's (HRCI) PHR and SPHR certification examinations. The content in this course is based on the responsibility and knowledge statements of the PHR and SPHR Body of Knowledge of Society for Human Resource Management (SHRM).

Target Audience
Human resource professionals, managers, and all individuals preparing for the PHR and SPHR certification examinations of Human Resource Certification Institute (HRCI); compensation and benefits analysts, administrators, staffing managers, and recruiters will also have interest in this certification path

Expected Duration (hours)
1.5

Lesson Objectives

Compensation and Benefits: Regulations, Strategies, and Needs Assessment

describe federal laws and regulations related to compensation

identify key provisions in the FLSA

identify FLSA record-keeping requirements

recognize federal laws and regulations related to benefits

recognize key components of benefits regulations

recognize key benefits components of tax regulations

describe accounting practices for tracking and reporting on compensation policies and programs

identify the steps in the strategic compensation process

identify the steps in a benefits program needs assessment

identify common tools and methods used to gather data for a benefits program needs assessment