1. Your Employability Skills Program
Total Compensation
Your
Employability
Skills
Program

2. Components of Total Compensation
Direct Compensation (Pay)
Indirect Compensation (Benefits)

3. Types of Direct Compensation
Base Pay
Variable Pay

4. Behind the scenes of base pay
Job Analysis
Job Descriptions
Job Evaluations
Market Pricing
Base Pay Systems

5. Job Analysis
Gathering, analyzing and synthesizing information about jobs
Methods used for Job Analysis
Observation
Interview
Questionnaire
Work diaries or logs
Positional analysis questionnaires
Functional job analysis

6. Job Descriptions Summary Essential Functions Nonessential Functions
Knowledge, Skills, Abilities, and other qualifications
Supervisory Responsibilities
Working Conditions
Success Factors

7. Job Evaluation
Determining the value of a job in comparison to other jobs
“Methods of job evaluation”
Ranking
Classification
Factor Comparison
Point Factor

8. Market Pricing
A formal process for determining the external value of jobs
Many companies choose to do both job evaluation and market pricing to come up with the appropriate value of a job.

9. Base Pay Systems Flat-rate Time-based Performance-based
Productivity-based
Competency- or skill based

10. Variable Pay Profit Sharing Gain Sharing Bonuses Profit Cost Quality
Production efficiency
Bonuses

11. Understanding your benefits as you begin or change employment…
Employment Benefits
Understanding your benefits as you begin or change employment…

12. The Importance of Benefit Consideration
Represents 30% or more of cost of employment
Wise utilization of available benefits may prevent much greater personal expense.
Benefits may determine the difference between prospective employers

13. Monthly Premium Contribution (Per Employee)
(Single Coverage/ Family Coverage)
Northeast Region
Indemnity…………. $46/$138
HMO………………. $27/$89
PPO……………….. $31/$108
POS……………….. $31/$103
(KPMG)

14. Monthly Premium Employer Cost
PPO POS HMO IND
Individual $242 $ $ $283
Family $ $ $ $668

15. Time Off Attendance Standards Call Responsibilities
Waiting Period – Flexibility
PTO vs. Traditional
Holidays
Leave Absence

16. Time Off (cont’d) Other considerations Bereavement Leave
Time Off without Pay
Benevolent Sharing of Time

17. Retirement Type of Programs Available Participation Requirements
Defined Benefit
Defined Contribution
Participation Requirements
Vesting Schedule
Recent or Anticipated Changes

18. Retirement Benefits Pension Plans (Defined Benefit)
Formula Based on Year of Service and/or Average Monthly Salary
Requires Age Length of Service and Hours Worked Minimums
Saving Plans (Defined Contribution)
401(K)
Loan Programs
Portability

19. Miscellaneous Benefits
Education
Clothing/Uniforms
Child Care/Elder Care
Group Insurance/Income Protection
Individual Financial Counseling
College Planning Assistance
Home Purchase/Legal Assistance
Subsidized Cafeterias/take home meals
Product Purchase discounts

20. Education Tuition Reimbursement Career/Personal Development Training
Eligibility
Qualifications
Limitations
Career/Personal Development
Training

21. Income Protection Short Term Disability Workers’ Compensation
Long Term Disability
Extended Care/Long Term Care Insurance
Life Insurance (Supplemental & Dependent)
Reduction in Force Policy

22. “Cost-Choice” Benefits
Simplifying The Issue
“No Cost-No Choice” Benefits
VS.
“Cost-Choice” Benefits
What is Negotiable?
Potential “Deal-breakers”

23. No Cost- No Choice Benefits
Basic Life Insurance
Basic Accidental Death & Dismemberment Insurance
Business Travel Accident Insurance
Recreational Activities Accident Insurance
Long Term Disability
Employee Assistance
PTO

24. Cost- Choice Benefits Medical Coverage Prescription Drug Coverage
Dental Coverage
Vision Coverage
Spending Accounts
Supplemental Life
Dependent Life
Short Term Disability

25. What If ’s Change Hours Leave Employment Become Disabled
Go on Paid or Unpaid LOA
Die