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Course Number:03
Category:Total Rewards Foundation
Field of Study:Business Management & Organization
Audience:Compensation Professionals, HR Managers, HR Generalists
Level of Difficulty:Overview
Delivery Method:QAS Self Study
Prerequisites: None
Advanced Preparation:None
SHRM BASK:As defined by the SHRM Body of Applied Skills and Knowledge (BASK), this self-study course relates to competencies in Strategic Alignment with functional areas in Total Rewards.
OverviewTotal rewards programs are continuously evolving. In this course we take a look at legacy programs that persist in some organizations today and also those that have come into existence as part of the new economy. Unions have had a big influence on total rewards and in organizations where they still have membership, they continue to do so. We will look at their program preferences, but the focus of this course is on pay and benefits in organizations that do not have organized labor. By the end of this course, you should have an understanding of the basics of total rewards programs, and how an organization can use total rewards to attract, retain, motivate, and engage its employees.
Learning Objectives:
  • Specify what the objectives of a total rewards program may be such as competitiveness, employee motivation, performance, internal equity, cost control, and capital accumulation
  • Identify the elements of total rewards such as base pay, incentives, health plans, disability, and retirement
  • Define the role of salary surveys and market pricing in setting salaries
  • Identify different kinds of short-term and long-term incentive plans and what they are used for
  • Differentiate between the pay plans of legacy and new economy organizations
  • Identify different types of medical plans such as HSA, HDHP, HMO, POS, and PPO
  • Specify what other typical benefits plans are such as dental, vision, long-term disability, and life insurance
  • Differentiate between qualified defined benefit and defined contribution plans
  • Recognize different kinds of non-qualified retirement plans and why they are used
  • Identify the typical perquisites that executives may receive
Credit & Professional
Continuing
Education Information:

  • SHRM-CP/SHRM-SCP Credit Information:

    ERI Distance Learning Center is recognized by SHRM to offer Professional Development Credits (PDCs) for SHRM-CP® or SHRM-SCP® recertification activities. This program is valid for 1 PDCs for the SHRM-CP® or SHRM-SCP®. For more information about certification or recertification, please visit www.shrmcertification.org.

    SHRM Preferred Provider

  • aPHR/PHR/SPHR/GPHR Credit Information:

    ERI Distance Learning Center is a recognized provider of recertification credits. The HR Certification Institute® (HRCI®) has pre-approved this activity for 1 HR (General) credit hour(s) towards aPHR™, PHR®, SPHR®, and GPHR® recertification.

    HRCI Approved Provider
    HR Certification Institute’s® (www.HRCI.org) official seal confirms that ERI Distance Learning Center meets the criteria for pre-approved recertification credit(s) for any of HRCI’s eight credentials, including SPHR® and PHR®.

  • CCP/CBP/GRP/WLCP Credit Information:

    This online course qualifies for recertification credit for the Certified Compensation Professional (CCP®), Certified Benefits Professional® (CBP), Global Remuneration Professional (GRP®), and Work-Life Certified Professional (WLCP®) designations granted by WorldatWork Society of Certified Professionals. For more information on recertification, visit the Society website at www.worldatworksociety.org.

  • CPE QAS Self Study Credit Information:

    National Registry QAS Self Study - Course approved for 1 credit(s) in these states:

    Alabama, Alaska, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Puerto Rico, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Virgin Islands, Virginia, Washington, West Virginia, Wyoming

    Course approved for 1 credit(s) in Vermont

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Additional Information:
*The Course Credit List displays credits and credit types offered by location.
FAQs Policies
World at Work
CPE Sponsors - Registry
CPE Sponsors - QAS
CAC
CCC

The ERI Distance Learning Center is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: https://www.nasbaregistry.org/

ERI Economic Research Institute is recognized by SHRM to offer Professional Development Credits (PDCs) for the SHRM-CP® or SHRM-SCP®