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Employee Compensation

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Summary

Price
£30 inc VAT
Study method
Online
Duration
1 hour · Self-paced
Qualification
No formal qualification
Additional info
  • Exam(s) / assessment(s) is included in price

Overview

Compensation is the financial and non-financial rewards that a company gives their employees in exchange for their work, and it is based on three types of compensation decisions: pay level, pay variability, and pay structure. Pay-level decisions are based on if workers are paid below, at, or above the market average. Pay variability refers to the extent to which a company pays individuals differently. Pay structure is related to the internal pay distributions within a company. How well (or poorly) a manager compensates their workers has a big impact on if someone will go to work at a company, and whether or not they’ll stay long-term. This course discusses how organizations and managers make decisions regarding worker compensation.

Course media

Description

By the end of this course the learner will be able to:

  • Describe how workers are compensated
  • State several types of pay-level decisions
  • Summarize how pay variability decisions effect wages
  • Explain the pay structure decision
  • List several types of incentive plans

You must make an 80% or higher on the final quiz to pass this online course. Once you pass the online course and complete your course survey, you will be able to print your certificate of completion from inside the course.

Who is this course for?

Anybody interested in developing leadership and management skills

Requirements

No prior qualification required

Career path

Application of principles learnt in this course

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Legal information

This course is advertised on reed.co.uk by the Course Provider, whose terms and conditions apply. Purchases are made directly from the Course Provider, and as such, content and materials are supplied by the Course Provider directly. Reed is acting as agent and not reseller in relation to this course. Reed's only responsibility is to facilitate your payment for the course. It is your responsibility to review and agree to the Course Provider's terms and conditions and satisfy yourself as to the suitability of the course you intend to purchase. Reed will not have any responsibility for the content of the course and/or associated materials.

FAQs

Study method describes the format in which the course will be delivered. At Reed Courses, courses are delivered in a number of ways, including online courses, where the course content can be accessed online remotely, and classroom courses, where courses are delivered in person at a classroom venue.

CPD stands for Continuing Professional Development. If you work in certain professions or for certain companies, your employer may require you to complete a number of CPD hours or points, per year. You can find a range of CPD courses on Reed Courses, many of which can be completed online.

A regulated qualification is delivered by a learning institution which is regulated by a government body. In England, the government body which regulates courses is Ofqual. Ofqual regulated qualifications sit on the Regulated Qualifications Framework (RQF), which can help students understand how different qualifications in different fields compare to each other. The framework also helps students to understand what qualifications they need to progress towards a higher learning goal, such as a university degree or equivalent higher education award.

An endorsed course is a skills based course which has been checked over and approved by an independent awarding body. Endorsed courses are not regulated so do not result in a qualification - however, the student can usually purchase a certificate showing the awarding body's logo if they wish. Certain awarding bodies - such as Quality Licence Scheme and TQUK - have developed endorsement schemes as a way to help students select the best skills based courses for them.
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