Managing Employee Compensation

Start Date: 02/23/2020

Course Type: Common Course

Course Link: https://www.coursera.org/learn/compensation-management

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About Course

Whether you're writing paychecks or wondering where yours comes from, this course is for you! We begin by asking: "To succeed, what kind of a person does your organization need to attract, retain, and motivate?" From there, we'll explain how to align your organization's objectives, its pay philosophy, and ultimately the way it designs and implements its salary structure, short-term incentives, long-term incentives, and benefits. 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. Upon completing the course, you should be able to have an understanding of compensation both strategically and technically. Learners will also gain introductory familiarity with pay regulation in the US.

Course Syllabus

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!

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Course Introduction

Managing Employee Compensation Managing employees is important. Whether you are managing a company of many or just an individual who manages people, you want them to perform at the highest level. That is why it is critical to understand the different types of employees, their compensation plans, and the different types of policies that can be employed to help you attract and retain the best employees. This course is designed to provide you with a basic understanding of the different types of employees and the different types of policies that can help you attract and retain the best employees. In this course, we will take a look at what employees are and how to employ them. We will also discuss the different types of employees and the different types of policies that can help you attract and retain the best employees. We’ll also look at what compensation is and how to structure it so that it is paid fairly. After this course, you will be able to understand the different types of employees and the different types of policies that can help you attract and retain the best employees. You will also be able to identify the best employees and managers to manage them. You will be able to use the basic tools employed by employers to attract and retain the best employees, and you will be able to design a compensation package that is fair to all employees, regardless of position.Managing Employees: Types 1 & 2 Managing Employees: Types 3 & 4 Managing Employees: Types 5 & 6 Managing Employees: Types 7

Course Tag

Human Resources (HR) Incentive Compensation And Benefits

Related Wiki Topic

Article Example
Employee compensation in the United States Deferred compensation is any arrangement where an employee receives wages after they have earned them. Deferred compensation plans in the US often have the benefit of employers' matching all or part of the employee contribution.
Employee compensation in the United States "Executive compensation" has its own set of regulations and lacks many of the tax benefits of other employee compensation because it exceeds their income limits.
Deferred compensation Deferred compensation is an arrangement in which a portion of an employee's income is paid out at a later date after which the income was earned. Examples of deferred compensation include pensions, retirement plans, and employee stock options. The primary benefit of most deferred compensation is the deferral of tax to the date(s) at which the employee receives the income.
Compensation and benefits Employee compensation and benefits are divided into four basic categories:
Nonqualified deferred compensation In a nonqualified deferred compensation arrangement, the employee receives no present benefit. The employee is only an unsecured creditor.
Open compensation plan An open compensation plan (or system or policy) is one with a defined pay scale and no rules about keeping employee pay confidential. Open compensation plans are noted for reducing employee turnover.
Deferred compensation Deferred compensation is a written agreement between an employer and an employee where the employee voluntarily agrees to have part of his compensation withheld by the company, invested on his behalf, and given to him at some pre-specified point in the future.
Employee compensation in the United States A Non-Qualified Deferred Compensation (NQDC) plan is a written agreement between an employer and an employee where the employee voluntarily agrees to have part of their compensation withheld by the company, invested on their behalf, and given to them at some pre-specified point in the future. NQDC refers to a specific part of the tax code that provides a special benefit to corporate executives and other highly compensated corporate employees. Non-Qualified Deferred Compensation is also sometimes referred to as deferred comp (which technically would include qualifying deferred comp but the more common use of the phrase does not), DC, non-qualified deferred comp, NQDC or golden handcuffs.
Compensation and benefits Employee compensation and benefits main influencers can be divided into two: internal (company) and external influencers.
Nonqualified deferred compensation Deferred compensation plans offer flexibility for both the employer and the employee.
Compensation and benefits Equity based compensation is an employer compensation plan using the employer’s shares as employee compensation. The most common form is stock options, yet employers use additional vehicles such as restricted stock, restricted stock units (RSU), employee stock purchase plan (ESPP), and stock appreciation rights (SAR).
Employee stock option An employee stock option (ESO) is commonly viewed as a complex call option on the common stock of a company, granted by the company to an employee as part of the employee's remuneration package. Regulators and economists have since specified that "employee stock options" is a label that refers to compensation contracts between an employer and an employee that carries some characteristics of financial options but are not in and of themselves options (that is they are "compensation contracts").
Employee compensation in the United States Employer compensation in the United States refers to the cash compensation and benefits that an employee receives in exchange for the service they perform for their employer. Approximately 93% of the working population in the United States are employees earning a salary or wage.
Employee compensation in the United States Typically, cash compensation consists of a wage or salary, and may include commissions or bonuses. Benefits consist of retirement plans, health insurance, life insurance, disability insurance, vacation, employee stock ownership plans, etc.
Employee compensation in the United States Compensation can be fixed and/or variable and is often both. Variable pay is based on the performance of the employee. Commissions, incentives, and bonuses are forms of variable pay.
Nonqualified deferred compensation A non-qualified deferred compensation plan or agreement simply defers the payment of a portion of the employee's compensation to a future date. The amounts are held back (deferred) while the employee is working for the company, and are paid out to the employee when he or she separates from service, becomes disabled, dies, etc. As will be discussed later, one of the keys in designing a non-qualified deferred compensation plan is making sure that the employee will not be required to pay income tax on those deferred amounts until the amounts are actually paid to the employee.
Employee stock option Employee stock options are mostly offered to management as part of their executive compensation package. They may also be offered to non-executive level staff, especially by businesses that are not yet profitable, insofar as they may have few other means of compensation. Alternatively, employee-type stock options can be offered to non-employees: suppliers, consultants, lawyers and promoters for services rendered. Employee stock options are similar to exchange traded call options issued by a company with respect to its own stock.
Employee stock ownership plan Some corporations are majority employee-owned; the term "employee-owned corporation" often refers to such companies. Such organizations are similar to worker cooperatives, but unlike cooperatives, control of the company's capital is not necessarily evenly distributed. In many cases, voting rights are given only to certain shareholders, and more senior employees may be allocated more shares than new hires; typically, they are tied to the compensation an employee receives from the company. Compared with cooperatives, ESOP-centered corporations often allow for company executives to have greater flexibility and control in governing and managing the corporation.
Workers' compensation Employees of common carriers by rail have a statutory remedy under the Federal Employers' Liability Act, 45 U.S.C. sec. 51, which provides that a carrier "shall be liable" to an employee who is injured by the negligence of the employer. To enforce his compensation rights, the employee may file suit in United States district court or in a state court. The FELA remedy is based on tort principles of ordinary negligence and differs significantly from most state workers' compensation benefit schedules.
Compensation and benefits Compensation and benefits (abbreviated “C&B”) is a sub-discipline of human resources, focused on employee compensation and benefits policy-making. It is known in the United Kingdom as “total reward” and as “remuneration” in Australia and New Zealand.