In this video, review how to develop a total rewards package.
- It's pretty common for employees to feel…like they're not being paid what they're worth.…Often it's because employees…may not have a full appreciation…for the many different components…that make up total rewards packages.…Total rewards are all the financial…and non-financial benefits…that are of value to an employee.…This can include direct compensation in the form of base pay…or indirect compensation elements…such as holiday pay or 401K matching.…When developing total rewards packages,…HR pros must first group jobs into job families.…
A job family is a group of jobs…with similar tasks and responsibilities.…For example, all financial roles in a company…may be grouped together.…Then you further separate the financial job family…into account payable roles, financial analyst roles,…investment analyst roles, and so on.…Or, it may make more sense for your company's business model…to organize financial roles into hourly versus salaried,…or exempt and nonexempt.…
Once the job families are established,…you can begin to evaluate each job…
- Modeling ethical standards
- Managing legal risks
- Finding and interviewing candidates
- Designing training and measuring its effectiveness
- Designing total rewards
- Promoting diversity and inclusion
- Employee engagement strategies
- Managing complaints and grievances
- Implementing workplace programs
Skill Level Advanced
Introduction to the PHR Certification Examwith Joanne Simon-Walters58m 16s Intermediate
1. Exam Topics: Business Management
2. Exam Topics: Talent Planning and Acquisition
3. Exam Topics: Learning and Development
4. Exam Topics: Total Rewards
5. Exam Topics: Employee and Labor Relations
6. Study Plan
Conclusion and Farewell
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