Total Rewards (Intl)

Total Rewards

This self-paced course consists of reading and/or listening to content and answering assessment questions. 

By the end of these courses, you should be able to:

Total Rewards: Financial and Non-financial

1. explain the relationship between compensation and other human resource functions (i.e. staffing, performance evaluation, training and development, employee relations)
2. describe the strategic objectives of compensation
3. describe the principal determinants of pay
4. list and explain the three basic wage decisions

The Wage-level Decision

1. explain the factors that most influence the wage-level decision
2. list and describe the various types of compensation surveys
3. explain the conditions necessary for do-it-yourself wage surveys to be successful
4. calculate the mean and median from a set of compensation survey data
5. explain the difference between a weighted average and an unweighted average
6. explain how compensation survey data can be aged

Job Evaluation Methods

1. define the change agent role
2. explain developmental change, transitional change, and transformational change
3. describe the models for change created by Kurt Lewin, Gene Dalton, and John Kotter
4. list and explain four methods for overcoming resistance to change
5. explain the action research model
6. list and explain Peter Senge’s five disciplines for developing an organization’s learning capabilities and the five building blocks for creating a learning organization

Job Pricing and Pay Rate Administration

1. explain the procedure for establishing pay grades and ranges
2. describe how to calculate a compa-ratio and explain how compa-ratios are useful
3. define red-circle rates (and blue or green)
4. describe the methods and consequences of adjusting the wage curve (i.e. for inflation)
5. explain the factors generally considered in determining the individual pay rate
6. explain how administrative controls can be placed on pay-rate decisions

Economic Factors Affecting Compensation

1. describe the impact that environmental factors such as inflation, interest rates, and competition can have on compensation
2. explain how demographic trends in the labor market can impact wages

Incentive Compensation Systems

1. explain how money is viewed in the various theories of motivation
2. describe the various methods for providing individual pay incentives to employees
3. explain skill-based pay and pay-for-knowledge programs
4. explain profit sharing and gainsharing
5. describe the factors that should be considered in balancing base pay and incentive pay

Executive Compensation

1. explain the use of stock options as a form of incentive compensation
2. describe the monetary and non-monetary compensation that might be offered to executives

Employee Benefit Programs

1. explain the difference between a defined benefit pension plan and a defined contribution pension plan
2. explain income replacement benefits
3. describe the employee services that may be offered by an organization
4. list and describe the various types of paid leave
5. explain recognition awards and suggestions systems

Managing Employee Benefit Programs

1. describe the methods for measuring and analyzing the costs of employee benefit plans
2. list and explain the items that might be included in a total reward statement

Evaluating Compensation

1. describe the difference between bottom-up and top-down budgeting
2. define “zero-based budgeting”
3. describe the three variables that combine to determine an organization’s labor costs and explain how each can be controlled

Compensation Laws and Regulations

1. describe the types of laws and regulations that impact compensation and benefits

Successful completion of this course requires passing all of the assessments at 100 percent. The assessments can be taken multiple times. Upon successful completion of these courses you can download a certificate of completion and access the pre-approved Activity IDs from the Completed tab on the MY COURSES page.

These courses will automatically be added to your user account within 5-10 minutes of placing your order. Access to HRrecert courses is granted for 24 months from the date of purchase. Internet access is required to view these courses.

The HRrecert courses are copyrighted material and may not, in whole or in part, be printed, copied, shared, or reproduced by any means for any reason without prior written consent. Access to the HRrecert courses are for your individual use; your account is not to be shared with others. Any violation of these terms and conditions will result in immediate termination of your access to these materials, with no refund provided.

Minimum System Requirements

Operating System:

• Windows: Minimum – Windows 10 version 1903, Recommended – Windows 11 (newest version)
• Macintosh (macOS): Minimum – macOS 12 (Monterey), Recommended – macOS 14 (Sonoma)

Computer Hardware:

• CPU: Minimum- 2 GHz, Recommended- 2 GHz, 4 core
• RAM: Minimum- 4 GB, Recommended - 8 GB

Browser Compatibility:

• The two most recent versions of Chrome
• The two most recent versions of Firefox (Extended Releases are not supported)
• The two most recent versions of Safari (Macintosh only)

*Internet Connection Speed: Stable internet connection of at least 5 Mb download / 5 Mb upload speeds