Managing Employee Compensation
Description
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- Free plan: No certicification and/or audit only. You will have access to all course materials except graded items.
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About this course: How do I pay employees? And how do I get paid? This course covers how to pay employees. We begin by asking: "What kind of a person do I need to attract, retain, and motivate for my business to succeed?" From here, we'll explain how to translate that pay strategy into the pay mix: the salary structure, short-term incentives, long-term incentives, and benefits that are aligned to your business objectives. 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 provi…
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When you enroll for courses through Coursera you get to choose for a paid plan or for a free plan .
- Free plan: No certicification and/or audit only. You will have access to all course materials except graded items.
- Paid plan: Commit to earning a Certificate—it's a trusted, shareable way to showcase your new skills.
About this course: How do I pay employees? And how do I get paid? This course covers how to pay employees. We begin by asking: "What kind of a person do I need to attract, retain, and motivate for my business to succeed?" From here, we'll explain how to translate that pay strategy into the pay mix: the salary structure, short-term incentives, long-term incentives, and benefits that are aligned to your business objectives. 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. If you're interested in learning how to pay employees, or learning where your paycheck comes from, this course is for you!
Created by: University of Minnesota-
Taught by: Alan Benson, Assistant Professor
Carlson School of Management, Department of Work and Organizations -
Taught by: Mike Davis, Senior Lecturer
Carlson School of Management, Department of Work and Organizations
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University of Minnesota The University of Minnesota is among the largest public research universities in the country, offering undergraduate, graduate, and professional students a multitude of opportunities for study and research. Located at the heart of one of the nation’s most vibrant, diverse metropolitan communities, students on the campuses in Minneapolis and St. Paul benefit from extensive partnerships with world-renowned health centers, international corporations, government agencies, and arts, nonprofit, and public service organizations.Syllabus
WEEK 1
Pay Determination
This module covers designing a compensation strategy and translating that into a pay structure.
12 videos, 2 practice quizzes expand
- Video: HR for People Managers Specialization (Re-cap)
- Video: About Alan Benson!
- Video: 1.1.1 Overview of the Pay Model
- Discussion Prompt: What Does Pay Mix Say About Your Organization?
- Video: 1.1.2 From a Pay Strategy to a Pay Mix
- Video: 1.2.1 Producing a Job Description
- Video: 1.2.2 Benchmarking Pay
- Discussion Prompt: How Does Your Job Compare on Pay?
- Video: 1.2.3 Surveys and the Labor Market
- Discussion Prompt: How are the Skills of Your Current Job?
- Video: 1.2.4 Labor Supply and Labor Demand
- Practice Quiz: Benchmarking Jobs
- Video: 1.3.1 Salary Structure Terminology
- Discussion Prompt: How Does the Prospect of Promotion Affect Performance?
- Video: 1.3.2 Salary Structures and Internal Benchmarks
- Video: 1.3.3 Criteria for Raises and Promotions
- Video: 1.3.4 Broadbanding
- Practice Quiz: Building a Pay Structure
Graded: Pay Determination
WEEK 2
Pay for Performance
This module covers employee performance evaluations, raises and promotions, short-term incentives (like commissions), and long-term incentives (like stock options).
9 videos, 3 practice quizzes expand
- Video: 2.1.1 Tying Pay to Performance Evaluations
- Video: 2.1.2 Should Pay Depend on Performance Evaluations?
- Discussion Prompt: Do You Think Pay Should Depend on Performance Evaluations?
- Video: 2.1.3 Designing Performance Evaluations
- Practice Quiz: Raises and Promotions
- Video: 2.2.1 To Incent or Not to Incent? (What are Short Term Incentives?)
- Video: 2.2.2 Should Jobs Use Short Term Incentives?
- Discussion Prompt: What’s an example of the alignment, measuring, metering, or control problem at work?
- Video: 2.2.3 Designing Incentives
- Practice Quiz: Short Term Incentives
- Video: 2.3.1 Varieties of Long Term Incentives
- Video: 2.3.2 Stock Options
- Discussion Prompt: What do YOU think about stock options?
- Video: 2.3.3 Examples of Long Term Incentives
- Practice Quiz: Long Term Incentives
Graded: Pay For Performance
WEEK 3
Benefits and Compliance
This module covers pay compliance, the Fair Labor Standards Act, statutory benefits (like OASDI), and non-statutory benefits (like 401ks).
12 videos, 3 practice quizzes expand
- Video: 3.1.1 An Overview of US Employment Law
- Video: 3.1.2 Fair Labor Standards Act (FLSA) Protections and Coverage
- Video: 3.1.3 FLSA in Practice
- Video: 3.1.4 FLSA Exemptions
- Practice Quiz: Pay Compliance
- Video: 3.2.1 Overview of Pay Discrimination
- Discussion Prompt: Which protections should be repealed or expanded?
- Video: 3.2.2 Federal Non-Discrimination Laws
- Video: 3.2.3 Strategic Benefits
- Practice Quiz: Non-Discrimination
- Video: 3.3.1 Shopping for Health Insurance Providers
- Video: 3.3.2 Affordable Care Act
- Discussion Prompt: How is your health covered?
- Video: 3.3.3 Pension Plans - Taxes and Types
- Video: 3.3.4 Shopping for Pension Providers
- Practice Quiz: Health and Pensions
- Video: Pay Mix Review and Up Next (Mike Davis)
Graded: Benefits and Compliance
Graded: Job and Benefits Analysis
WEEK 4
NON-MONETARY REWARDS
In this module you will learn about Non-Monetary Rewards. These are very important rewards and are different from monetary rewards. At the end of this lesson you should be able to explain what a non-monetary reward is, describe different kinds of non-monetary rewards, and some ways to implement non-monetary rewards at your own company. So get ready, get started, and go for it!
10 videos, 3 practice quizzes expand
- Video: About Mike Davis!
- Video: 4.1.1 Introduction
- Video: 4.1.2 Value to Employees
- Video: 4.1.3 Value to Employers
- Practice Quiz: Introduction to Non-Monetary Rewards
- Video: 4.2.1 Recognition
- Video: 4.2.2 Learn and Grow
- Video: 4.2.3 Flexibility
- Practice Quiz: Three Common Non-Monetary Rewards
- Video: 4.3.1 Program Design
- Video: 4.3.2 What Can Go Wrong?
- Video: 4.3.3 Go For It!
- Practice Quiz: Implementing Non-Monetary Rewards
Graded: Non-Monetary Rewards
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