Compensation & Benefits Specialist.

Module 1: Foundations of Total Rewards & Job Analysis

🎯 Objective: Understand the core components of total rewards and conduct job analysis to establish a foundation for equitable compensation.
📘 Topics:

• The Total Rewards Framework: Compensation, Benefits, Well-being, Recognition, and Development

• The Strategic Role of Compensation & Benefits in Talent Management and Business Strategy

• Job Analysis Methods: Interviews, Questionnaires, and Observation

• Crafting Effective Job Descriptions with Clear Specifications

• Introduction to Job Evaluation Methods: Point Factor and Ranking
  📂 Materials:

• Job Analysis Questionnaire Template (Word)

• Guide to Writing Job Descriptions (PDF)

• Job Evaluation Scorecard (Excel)
  🛠️ Activity:
  Conduct a job analysis for a sample role and create a comprehensive job description, including a preliminary job evaluation score.

Module 2: Market Pricing & Salary Structure Design

🎯 Objective: Develop competitive and equitable salary structures by analyzing market data and aligning with organizational strategy.
📘 Topics:

• Sourcing and Selecting Reliable Salary Survey Data

• Conducting Market Pricing: Benchmarking Jobs and Analyzing Data

• Understanding and Choosing Pay Positioning Strategies (Lead, Match, Lag)

• Designing Pay Grades and Salary Ranges

• Managing Geographic Pay Differentials
  📂 Materials:

• Market Pricing Data Analysis Template (Excel)

• Salary Survey Source Evaluation Checklist (PDF)

• Salary Structure Modeling Tool (Excel)
  🛠️ Activity:
  Using provided market data, benchmark a set of sample jobs and create a proposed salary structure with pay grades and ranges for a hypothetical company.

Module 3: Variable Pay & Incentive Program Design

🎯 Objective: Design and manage variable pay programs that drive desired behaviors and align employee efforts with business goals.
📘 Topics:

• Types of Variable Pay: Bonuses, Commissions, Profit-Sharing, and Stock Options

• Designing Sales Compensation Plans

• Creating Organization-Wide and Team-Based Incentive Programs

• Setting Performance Measures and Payout Triggers

• Communicating Incentive Plans Effectively to Ensure Understanding and Motivation
  📂 Materials:

• Incentive Plan Design Canvas (Word)

• Sales Compensation Plan Template (PDF)

• Bonus Payout Calculation Simulator (Excel)
  🛠️ Activity:
  Design a short-term incentive plan for a specific team (e.g., sales, product development), including eligibility, performance metrics, and a simulated payout calculation.

Module 4: Employee Benefits Strategy & Management

🎯 Objective: Develop a strategic benefits portfolio that meets diverse employee needs while managing costs effectively.
📘 Topics:

• Mandatory vs. Voluntary Benefits Landscape

• Health & Welfare Benefits: Medical, Dental, Vision, Life, and Disability Insurance

• Retirement Plans: 401(k) Design, Compliance, and Employer Matching Strategies

• Managing Benefits Vendors and Controlling Costs

• Designing a Winning Well-being and Work-Life Balance Portfolio
  📂 Materials:

• Benefits Vendor Scorecard (Excel)

• Benefits Guide Template for Employees (Word)

• Benefits Cost Analysis & Projection Tool (Excel)
  🛠️ Activity:
  Analyze two different health insurance plan proposals and present a recommendation based on cost, coverage, and employee value.

Module 5: Compensation & Benefits Compliance and Communication

🎯 Objective: Ensure legal compliance of all Compensation & Benefits programs and master the art of communicating total rewards to maximize their perceived value.
📘 Topics:

• Key Legislation: FLSA, EPA, ACA, ERISA, and HIPAA

• Pay Equity Analysis and Mitigating Bias

• Non-Discrimination Testing for Retirement and Health Plans

• Developing a Total Rewards Communication Strategy

• Creating Effective Total Rewards Statements
  📂 Materials:

• Pay Equity Analysis Framework (Excel)

• Compliance Calendar for Compensation & Benefits Specialists (PDF)

• Total Rewards Statement Template (PowerPoint/Word)
  🛠️ Activity:
  Perform a basic pay equity analysis on a sample dataset and draft a communication plan for launching a new employee wellness benefit.

Module 6: Advanced Analytics & Technology in Total Rewards

🎯 Objective: Leverage data analytics and modern technology to optimize Compensation & Benefits programs and demonstrate return on investment (ROI).
📘 Topics:

• Key Compensation & Benefits Metrics: Cost per Hire, Benefits Utilization, ROI on Wellness Programs

• Using HRIS and Compensation Management Platforms

• Predictive Modeling for Salary Budgeting and Benefits Forecasting

• Creating Dashboards to Communicate Compensation & Benefits Insights to Stakeholders

• The Future of Total Rewards: Personalization, AI, and Flexibility
  📂 Materials:

• Compensation & Benefits Metrics Dashboard Template (Excel/Power BI)

• HRIS Requirements Checklist for Compensation & Benefits (PDF)

• Salary Budget Forecasting Tool (Excel)
  🛠️ Activity:
  Using a provided dataset, create a one-page executive dashboard that summarizes key compensation metrics and provides a data-driven recommendation.