Lesson 1: Introduction to Compensation

1) Review the following materials:

https://www.3ccomp.com/pdf/CompensationfunctionQ22007.pdf

http://www.compensationcafe.com/2016/11/two-types-of-compensation-people.html

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2) Please respond to the following:

a) What is a compensation professional?

b) What knowledge, skills and abilities are required of a successful compensation professional?

Be sure to cite the source of your info where you type it, then again, on a ref. list on a ref. page at the end.

SAMPLE SOLUTION

a) What is a compensation professional?

A compensation professional is a specialist tasked with the responsibility of computing workers’ remunerations, organizing and maintaining compensation records, examining internal compensation plans, developing certain job descriptions, participating in the regular employees’ performance appraisals and dealing with workers’ general benefits. The role of a compensation professional is diverse as it affects the individual interests of employees. Such individuals are expected to manage programs that directly affect the performance of the organization

b) What knowledge, skills and abilities are required of a successful compensation professional? A competent compensation professional is expected to have special knowledge, skills and abilities to deliver on their mandate. At a minimum, compensation specialists should have compensation knowledge, internal knowledge, external…

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