Employee Benefits and Incentives
About Employee Benefits and Incentives
Programs for rewarding employees are intended to draw in, keep, and develop talent. Rewards and perks are used as incentives to encourage excellent workplace habits. They take many different shapes, including paying for college, giving employees extra time off, and giving employers more flexibility.
Why is Employee Benefits and Incentives important?
Programs for rewarding employees help businesses increase productivity, minimize turnover rates, and save expenses associated with production. It increases employee engagement to promote collaboration, raise spirits, and motivate workers. The incentive schemes were beneficial to both the companies and the workforce.
Employee incentive programs, according to The Business Journals, may increase profitability, recognize top performers, uphold company values, enhance cooperation and morale, and draw in and keep top personnel.
Who should take the Employee Benefits and Incentives Exam?
- Students who want to learn how to design tasks and jobs which will motivate the employee.
- Students who want to learn about compensation and benefits.
- Experienced professionals looking to establish themselves in the HR field.
Employee Benefits and Incentives Certification Course Outline
- What is compensation?
- Competitive strategy and total compensation strategy
- Pay Structures
- Locked content
- Internal alignment
- Organization-specific
- Job-based
- Person-based
- Pay level and the mix of pay forms
- How pay surveys drive compensation decisions
- Paying for Performance
- The performance review process
- Incentive plans
- Executive compensation
- Employee Benefits
- Legally required employee benefits
- Life and health insurance
- Retirement
- Time-off pay and employee services
- HR technology in compensation and benefits
- International Compensation
- Managing a Total Rewards System
- Budgeting and communication
- System components