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Managing Employee Compensation
  • Level Foundation
  • Duration 15 hours
  • Course by University of Minnesota
  • Offered by

About

Whether you're writing paychecks or wondering where yours comes from, this course is for you! We begin by asking: "To succeed, what kind of a person does your organization need to attract, retain, and motivate?" From there, we'll explain how to align your organization's objectives, its pay philosophy, and ultimately the way it designs and implements its salary structure, short-term incentives, long-term incentives, and benefits. Interested in learning more about the technical aspects of compensation, but don't know where to begin? We'll give an overview of key the key technical skills: compliance with pay regulations, understanding stock options, shopping for health insurance and pension providers, and designing incentive plans. Lastly, we'll discuss non-monetary methods of motivating employees. Upon completing the course, you should be able to have an understanding of compensation both strategically and technically. Learners will also gain introductory familiarity with pay regulation in the US.

Modules

Prologue

    • 2 Videos
Show info about module content

2 Videos

  • HR for People Managers Specialization (Re-cap)
  • About Alan Benson!

Lesson 1.1: Compensation Strategy

    • 2 Videos
    • 1 Discussion
Show info about module content

1 Discussions

  • What Does Pay Mix Say About Your Organization?

2 Videos

  • 1.1.1 Overview of the Pay Model
  • 1.1.2 From a Pay Strategy to a Pay Mix

Lesson 1.2: Benchmarking Jobs

    • 4 Videos
    • 2 Discussion
    • 1 Assignment
Show info about module content

1 Assignment

  • Benchmarking Jobs

2 Discussions

  • How Does Your Job Compare on Pay?
  • How are the Skills of Your Current Job?

4 Videos

  • 1.2.1 Producing a Job Description
  • 1.2.2 Benchmarking Pay
  • 1.2.3 Surveys and the Labor Market
  • 1.2.4 Labor Supply and Labor Demand

Lesson 1.3: Building a Pay Structure

    • 4 Videos
    • 1 Discussion
    • 1 Assignment
Show info about module content

1 Assignment

  • Building a Pay Structure

1 Discussions

  • How Does the Prospect of Promotion Affect Performance?

4 Videos

  • 1.3.1 Salary Structure Terminology
  • 1.3.2 Salary Structures and Internal Benchmarks
  • 1.3.3 Criteria for Raises and Promotions
  • 1.3.4 Broadbanding

Module 1 Wrap-Up

    • 1 Assignment
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1 Assignment

  • Pay Determination

Lesson 2.1: Raises and Promotions

    • 3 Videos
    • 1 Discussion
    • 1 Assignment
Show info about module content

1 Assignment

  • Raises and Promotions

1 Discussions

  • Do You Think Pay Should Depend on Performance Evaluations?

3 Videos

  • 2.1.1 Tying Pay to Performance Evaluations
  • 2.1.2 Should Pay Depend on Performance Evaluations?
  • 2.1.3 Designing Performance Evaluations

Lesson 2.2: Short Term Incentives

    • 3 Videos
    • 1 Discussion
    • 1 Assignment
Show info about module content

1 Assignment

  • Short Term Incentives

1 Discussions

  • What’s an example of the alignment, measuring, metering, or control problem at work?

3 Videos

  • 2.2.1 To Incent or Not to Incent? (What are Short Term Incentives?)
  • 2.2.2 Should Jobs Use Short Term Incentives?
  • 2.2.3 Designing Incentives

Lesson 2.3: Long Term Incentives

    • 3 Videos
    • 1 Discussion
    • 1 Assignment
Show info about module content

1 Assignment

  • Long Term Incentives

1 Discussions

  • What do YOU think about stock options?

3 Videos

  • 2.3.1 Varieties of Long Term Incentives
  • 2.3.2 Stock Options
  • 2.3.3 Examples of Long Term Incentives

Module 2 Wrap-Up

    • 1 Assignment
Show info about module content

1 Assignment

  • Pay For Performance

Lesson 3.1: Pay Compliance

    • 4 Videos
    • 1 Assignment
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1 Assignment

  • Pay Compliance

4 Videos

  • 3.1.1 An Overview of US Employment Law
  • 3.1.2 Fair Labor Standards Act (FLSA) Protections and Coverage
  • 3.1.3 FLSA in Practice
  • 3.1.4 FLSA Exemptions

Lesson 3.2: Benefits

    • 3 Videos
    • 1 Discussion
    • 1 Assignment
Show info about module content

1 Assignment

  • Benefits

1 Discussions

  • Which protections should be repealed or expanded?

3 Videos

  • 3.2.1 Statutory Benefits
  • 3.2.2 Perks
  • 3.2.3 Strategic Benefits

Lesson 3.3: Health and Pensions

    • 4 Videos
    • 1 Discussion
    • 1 Assignment
Show info about module content

1 Assignment

  • Health and Pensions

1 Discussions

  • How is your health covered?

4 Videos

  • 3.3.1 Shopping for Health Insurance Providers
  • 3.3.2 Affordable Care Act
  • 3.3.3 Pension Plans - Taxes and Types
  • 3.3.4 Shopping for Pension Providers

Module 3 Wrap-Up

    • 1 PeerReview
    • 1 Assignment
Show info about module content

1 Assignment

  • Benefits and Compliance

1 Peer Review

  • Job and Benefits Analysis

Review and Up Next

    • 1 Videos
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1 Videos

  • Pay Mix Review and Up Next (Mike Davis)

Lesson 4.1: Introduction to Non-Monetary Rewards

    • 4 Videos
    • 1 Assignment
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1 Assignment

  • Introduction to Non-Monetary Rewards

4 Videos

  • About Mike Davis!
  • 4.1.1 Introduction
  • 4.1.2 Value to Employees
  • 4.1.3 Value to Employers

Lesson 4.2: Three Common Non-Monetary Rewards

    • 3 Videos
    • 1 Assignment
Show info about module content

1 Assignment

  • Three Common Non-Monetary Rewards

3 Videos

  • 4.2.1 Recognition
  • 4.2.2 Learn and Grow
  • 4.2.3 Flexibility

Lesson 4.3 Implementing Non-Monetary Rewards

    • 3 Videos
    • 1 Assignment
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1 Assignment

  • Implementing Non-Monetary Rewards

3 Videos

  • 4.3.1 Program Design
  • 4.3.2 What Can Go Wrong?
  • 4.3.3 Go For It!

Module 4 Wrap-Up

    • 1 Assignment
Show info about module content

1 Assignment

  • Non-Monetary Rewards

Auto Summary

Unlock the secrets to effective compensation management with our "Managing Employee Compensation" course, designed to enhance your personal development and organizational success. This foundational course is perfect for anyone involved in payroll management or curious about the origins of their paycheck. Starting with the fundamental question of what kind of talent your organization needs to thrive, we delve into aligning your company’s objectives with its pay philosophy. You will learn to design and implement salary structures, short-term and long-term incentives, and employee benefits that motivate and retain top talent. For those interested in the technical side of compensation, we provide a comprehensive overview of essential skills. This includes mastering compliance with pay regulations, understanding stock options, selecting health insurance and pension providers, and crafting effective incentive plans. Additionally, we’ll explore non-monetary motivational strategies to enhance employee engagement. Upon completion, you will possess a strategic and technical understanding of compensation, with an introductory knowledge of US pay regulations. The course, offered by Coursera, spans approximately 900 minutes and is available through various subscription options, including Starter, Professional, and Paid plans. Ideal for beginners, this course is tailored to equip you with the skills to manage employee compensation effectively and confidently.

Alan Benson
Instructors

Alan Benson

Mike Davis
Instructors

Mike Davis