Compensation and Benefits Planning for Small Business [US]

Your compensation system is a critical part of your overall business strategy. It has a direct impact on your ability to attract and retain employees, as well as on your organizational culture. Whether you are an established business or just starting out, your enterprise will benefit from a well-planned compensation strategy.

In this Compensation and Benefits Planning for Small Business online training course, we will review four key aspects of an effective compensation plan: salary administration, pay equity, compensation strategies, and benefits.

Course Learning Objectives

By taking this online Compensation and Benefits Planning for Small Business course, the user will learn to:

• Discuss how a company's compensation and benefits strategy is related to its overall business strategy 
• Identify the five key tasks in salary administration
• Identify the four compensable factors used to analyze and classify jobs
• Discuss pay equity legislation
• Explain how salary surveys can help a business develop its compensation strategy
• Distinguish between mandatory and voluntary benefits
• Identify mandatory benefits that apply to employers
• Discuss the role of voluntary benefits in a company's compensation strategy

Course Outline

This online Compensation and Benefits Planning for Small Business course is made up of the following sections:

1. Overview of Compensation and Benefits Planning
2. Salary Administration
3. Pay Equity
4. Compensation Strategies – Market Comparisons
5. Benefits

Course Audience

This Compensation and Benefits Planning for Small Business online training course was designed for business owners.

If you have any concerns as to whether this course is appropriate for you or your industry, please browse our full selection of online courses.