Friday, 18 May 2012

Online Certificates for Compensation Professionals: Program Information

Online certificate programs in human resource management cover many aspects of human resources, including employee compensation. There are a variety of programs designed for human resources workers, whether they are payroll staffers looking to broaden their knowledge base or certified compensation specialists seeking to earn continuing education credits. Many online programs do not offer college credit, but some can count toward a degree program at an accredited college.

Online Certificate Programs in Human Resource Management Overview

Compensation is a rapidly changing field in human resource (HR) management, and many online certificate programs in HR management include coursework to keep payroll staffers up-to-date with the latest in government policies, retirement plans and compensation strategies. College business schools are most likely to offer programs with for-credit courses in compensation design, welfare benefits administration and health plan management. Private companies and for-profit schools also offer online HR training programs, but the courses are generally not for credit.

Program Information

Distance learning programs can be completed fully off-site, although the methods of delivery vary considerably. Some programs require a minimum of online connectivity, using CD-ROMs to deliver study texts, video and software presentations. Other programs offer video, interactive learning modules and examinations completely online.
All students need a computer with high-speed Internet access. Some schools require CD-ROM drives or specific applications to deliver text, spreadsheets or presentations. The level of computer technology required of most certification programs for compensation professionals is modest.

Common Course List

Human resource management programs might require as few as three or as many as ten 3-credit courses to complete. Courses are designed to strengthen HR professionals' work skills and expose them to new aspects of compensation handling. Sample courses include:

Compensation and Benefits Course

This course presents issues affecting compensation and benefits in contemporary companies, the design of compensation packages and management of benefits systems. Topics include recent changes in government regulations, direct vs. indirect compensation, voluntary programs, stock plans and expense reimbursements.

Taxation Procedures Course

The regulations, timetables and procedures for handling federal, state and local taxes are complex, often necessitating computerized payroll and reporting systems. Considerations include multistate taxation, supplemental wages, tips, special compensation and business expenses.

Fringe Benefits Course

Salary is just one aspect of employee compensation. Many fringe benefits, like medical insurance and retirement plans, are major hiring considerations. This course discusses various types of fringe benefits, including dental, life and liability insurance, personal leave, sick leave, third-party sick leave, stock options, annuities and deferred compensation.

Legal and Ethical Issues Course

Legal conflict resolution, ethical training and conflict resolution are often the responsibility of HR departments. Personnel laws governing immigration, affirmative action and harassment are discussed.

Career Information for Compensation Specialists

In a large company, a compensation professional may specialize in one area, such as pensions, health insurance or retirement plans. In smaller companies, someone trained in compensation may be responsible for all compensation and benefits issues, or even branch out into other HR specialties.
According to the U.S. Bureau of Labor Statistics, jobs for compensation specialists were projected to grow by 28% from 2008-2018, a rate considered very fast. Jobs for compensation and benefits managers were projected to grow at nine percent, about the same as the average of all U.S. jobs. The median 2009 wage was $55,620 for compensation specialists and $88,050 for compensation specialist managers (www.bls.gov).

Certification and Continuing Education Information

There are several professional organizations for compensation professionals, including the International Foundation of Education, Benefits and Compensation (IFEBP) and the Society for Human Resource Management (SHRM). Three levels of HR certification exams conducted by the Human Resource Certification Institute (HRCI), an SHRM affiliate, have become national standards in the field. Certifications must be renewed every three years, by accumulating 60 hours of continuing education credits.

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