Summary - Creating a Compensation Plan

Recap

In this module, we looked at compensation plans as a complete package that includes how employees' wages, salaries, benefits, and terms of payment are laid out. We also looked at how compensation plans include details about bonuses, incentives, and commissions that may be paid to employees.

Resources 

SHRM: Building a Market-Based Pay Structure from Scratch.

SHRM Building a Market-Based Pay Structure from Scratch.pdf Download SHRM Building a Market-Based Pay Structure from Scratch.pdf 

 

Extended learning:

For more information on this topic and any other HR-related topics,  it is suggested you  contact:

SHRM Links to an external site. (Society of Human Resources Management)

Cal Chamber Links to an external site.

Next Concept HR Links to an external site. (formerly the Northern California Human Resources Association)

These are member-based organizations and most offer student memberships. 

Gregg Learning Links to an external site.  (powered by LighthouseOD Links to an external site.) continually updates its video library with relevant content designed to enhance HR professional development.

Looking Ahead

In the final writing assignment you will be asked to look back over the class, and what you have learned,  and:

1. Identify two concepts or rules/laws we went over in class that you already knew and two concepts or rules/laws we went over in class that you didn't know before.

2. Identify two concepts/rules/laws related to compensation administration and employee pay you want to learn about or learn more about.

3. Identify what you will do to learn about the subject matter.