HRM 103 - HRM: Intro to Benefits and Compensation

Total rewards encompass six components — compensation, benefits, work-life effectiveness, recognition, performance management, and talent development — that collectively define an organization's strategy to attract, motivate, retain and engage employees. The challenge of developing, maintaining, and managing benefits and compensation plans is a critical and costly function for any organization and represent key components of a Total Reward Program. The objective of this course is to provide a basic understanding of compensation and benefit plans including strategy, key concepts, terminology, legal & regulatory compliance, policy and plan development, structure, & design, communication, and administration.