Fundamentals of Compensation Strategies

Fundamentals of Compensation Strategies

This course is part of ADP Entry-Level Compensation and Benefits Analyst Professional Certificate

Instructor: ADP Learning Academy

Access provided by The State University of Zanzibar

2,696 already enrolled

3 modules

Gain insight into a topic and learn the fundamentals.

12 reviews

Beginner level

Recommended experience

3 hours to complete

Flexible schedule

Learn at your own pace

3 modules

Gain insight into a topic and learn the fundamentals.

12 reviews

Beginner level

Recommended experience

3 hours to complete

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

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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.

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Gain a foundational understanding of a subject or tool
Develop job-relevant skills with hands-on projects
Earn a shareable career certificate from Automatic Data Processing, Inc. (ADP)

There are 3 modules in this course

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.

This module explores fundamental compensation concepts. You’ll review the different types of direct compensation and the points in time when employee direct compensation is likely to change. You’ll learn about regulations that influence compensation, including the Fair Labor Standards Act, and how it impacts base compensation. Finally, you'll look both variable and equity compensation in greater detail.

What's included

11 videos15 readings3 assignments

11 videosTotal 25 minutes

Welcome to Fundamentals of Compensation Strategies2 minutes
Key Federal Regulations3 minutes
Non-Federal Regulations2 minutes
The Common Law and ABC Tests3 minutes
The Economic Reality Test3 minutes
Statutory Employees and Non-employees3 minutes
Introduction to Variable Compensation2 minutes
Pros and Cons of Variable Compensation3 minutes
Introduction to Equity Compensation1 minute
The Lifecycle of an Equity Grant3 minutes
Module 1 Recap1 minute

15 readingsTotal 61 minutes

Glossary2 minutes
Direct Compensation5 minutes
Employee Lifecycle and Compensation Changes3 minutes
Introduction to Regulations3 minutes
Regulatory Resources2 minutes
FLSA Coverage3 minutes
FLSA Exemptions3 minutes
FLSA Classification & Exemption Resources3 minutes
A Closer Look: Merit Pay2 minutes
A Closer Look: Commissions4 minutes
Equity Plan Documents 6 minutes
Vesting and Exercise Methods5 minutes
A Closer Look: NQSOs and ISOs 5 minutes
A Closer Look: Restricted Stock and Restricted Stock Units5 minutes
A Closer Look: Stock Appreciation Rights10 minutes

3 assignmentsTotal 10 minutes

ADP Legal Disclaimer2 minutes
Knowledge Check!2 minutes
Knowledge Check!6 minutes

Now that you’re familiar with elements of compensation and related regulations, you’ll explore how these elements combine to form the compensation portion of an organization’s total rewards strategy. You’ll begin by looking at common approach to creating a compensation strategy, starting with defining the organization’s compensation philosophy. From there, you’ll explore compensation-specific data sources, analyses, and considerations, as well as issues often uncovered during data analysis.