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Total rewards includes everything an employee perceives to be of value resulting from the employment relationship. It comprises all financial and non-financial incentives such as pay and allowances, leave, health and wellness benefits, employment insurance, retirement plans, and perquisites. Such rewards help to attract, motivate, and retain employees. HR professionals have organizational and fiduciary responsibilities in designing, administering, and maintaining total reward systems and programs aligned with organizational strategies and goals. This course presents the strategic framework for total rewards. You'll learn about compensation structure and systems, and employee benefits programs. You'll also learn about the statutory and global considerations for total rewards. The content in this course is based on the Body of Competency and Knowledge (BoCK), 2015 of Society for Human Resource Management (SHRM). While the course helps learners to prepare for the SHRM-CP/SCP certification exams, it is equally useful for HR professionals who want to develop capabilities for improving their effectiveness in the workplace and advancing their career.

Learning Objectives
  • Identify HR's role in the management of total rewards
  • Sequence the steps in developing a total rewards strategy
  • Identify HR's role in administering the regulatory framework for compensation and benefits
  • Demonstrate your understanding of HR's role in designing and implementing a strategic framework for total rewards
  • Identify key considerations in job analysis
  • Recognize job evaluation methods
  • Recognize the elements of a pay structure
  • Differentiate between types of compensation systems
  • Differentiate between pay adjustment and variation types
  • Demonstrate your understanding of HR's role in designing and implementing equitable compensation systems
  • Identify the characteristics of employee benefits
  • Recognize steps in a benefits needs assessment process
  • Recognize examples of common employee benefits programs
  • Recognize metrics used to calculate employee benefits
  • Demonstrate your understanding of HR's role in designing and implementing benefits and perquisites
  • Audience

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