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Unit 4: Compensation and Benefits (2018 sp Edition)

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Price: $65.00

The Human Resource Certification Preparation Program is a set of comprehensive study materials useful in preparing for the PHR and SPHR certification exams. Unit 4 Compensation and Benefits contains 188 pages of instructional material and also includes an index and a list of key terms. Included with the unit are two sets of online review questions, which are added to your account immediately upon completing your purchase. (Online tests require Internet Explorer 10.0 or higher, FirefoxChrome, or Safari browser.)

Click here to view sample pages.

 

Contents of Unit 4 Compensation and Benefits

Total Rewards: Financial and Non-financial

  • Strategic Objectives of Compensation
  • Ethical Considerations in Compensation
  • Compensation within Different Labor Markets
  • Determinants of Pay
  • Three Wage Decisions

 

The Wage-level Decision

  • Establishing the Wage Level
  • Factors Influencing the Wage-level Decision
  • Wage Surveys
  • Survey Methods

 

Job Evaluation Methods

  • Ranking Method
  • Classification/Grading Method
  • Point Method
  • Factor Comparison Method
  • Guide Chart-Profile Method (Hay method)

 

Job Pricing and Pay Rate Administration

  • Pay Grades and Pay Ranges
  • Red-circle Job Rates
  • Adjustments for Inflation
  • Adjustments for Economic Declines
  • Individual Pay Rate Determination
  • Reflecting Geographic Influences in Pay Structures
  • Establishing Administrative Controls

 

Economic Factors Affecting Compensation

  • Inflation
  • Interest Rates
  • Industry Competition
  • Foreign Competition
  • Economic Growth
  • Demographic Trends

 

Incentive Compensation Systems

  • Money and Motivation Theories
  • Individual Incentives
  • Skill and Knowledge Based Pay
  • Differential Pay
  • Group and Team Incentives
  • Organization-wide Programs: Profit Sharing and Gainsharing
  • Employee Stock Ownership Plans
  • Strategic Alignment of Base Pay and Incentive Pay

 

 Executive Compensation

  • Salaries
  • Executive Bonus Plans
  • Stock Options
  • Nonqualified Deferred Compensation (NQDC)
  • Nonfinancial Rewards
  • Director Pay

 

Employee Benefit Programs

  • Social Security
  • Workers' Compensation
  • Unemployment Compensation
  • Pensions
  • Health and Accident Insurance
  • Income Replacement
  • Employee Services
  • Pay for Time Not Worked
  • Recognition and Achievement Awards

 

Health Care Benefits

  • Managed Health Care
  • Consumer-directed Health Care

 

Managing Employee Benefit Programs

  • History of Benefits
  • Employee Benefits Philosophy, Planning, and Strategy
  • Employee Preference Assessment: Surveys
  • Cost-Benefit Analysis and Cost Management
  • Legal Compliance of Benefits Programs
  • Communicating Benefit Programs

 

Compensation Laws and Regulations

  • Davis-Bacon Act
  • Copeland Act and Anti-Kickback Law
  • Walsh-Healey Act
  • Fair Labor Standards Act (1938) as amended
  • Equal Pay Act (1963)
  • Pregnancy Discrimination in Employment Act (1978)
  • Family and Medical Leave Act
  • Health Insurance Portability and Accountability Act (HIPAA), 1996
  • Patient Protection and Affordable Care Act (PPACA), 2010
  • Small Business Job Protection Act (SBJPA), 1996
  • Wage Garnishment (1968)
  • Employee Retirement Income Security Act (ERISA), 1974
  • COBRA (Consolidated Omnibus Budget Reconciliation Act)
  • Bankruptcy Protections
  • FASB Regulations
  • IRS Regulations

 

Evaluating Strategy & Program Effectiveness

  • Budgeting
  • Assessment of Methods and Processes

 

International HR Compensation Issues

  • Expatriate Pay and Allowances
  • Compensation and Benefits Global Workers

 

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