Basic Compensation Concepts

Day 1

1. Total Rewards
   1. What’s included
   2. Developing a Total Rewards Strategy
2. Compensation Management
   1. Compensation philosophy and policy
   2. Job role analysis & documentation
      1. Market pricing
   3. Job evaluation
   4. Salary structure
   5. Pay administration
   6. Tying pay to performance

Day 2

3. Variable Pay
   1. Definition and overview
   2. Plan design elements and pillars of success
4. Performance Management
   1. History of performance appraisal
   2. Performance design elements
   3. What works in performance management
   4. Transforming performance management
   5. Discussion: What works best
5. Competencies (Person-Based Pay)
   1. Overview of competencies
      1. Strategic competencies
      2. Process competencies
      3. Individual competencies
   2. Career Tracks
6. The Legal Environment
   1. Applicable laws and legal intent
   2. Fair Labor Standards Act
      1. Child Labor Law
      2. Minimum Wage Law
      3. Overtime Pay Law
      4. Exemptions
      5. Recordkeeping requirements
   3. Equal Pay Act
7. Executive Compensation
   1. Definition and environment
   2. Elements and philosophy
   3. Variable compensation
      1. Short-term programs
      2. Long-term programs
   4. Other considerations
      1. Best practices
      2. Trends
8. Case Study
   In the case study, you will review and analyze a company profile and develop a salary structure for an organization using data sheets, average market rates by position, and salary structure design principles and parameters.