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Published byMargaret Wilkinson Modified over 9 years ago
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Knowledge Pay Program Retirement Services April 2011
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Knowledge Pay Agenda What is it? Eligibility and Enrollment Recognition Certification Examples Reimbursement Maintenance
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Knowledge Pay-What is it? ADP Program designed to recognize associates who distinguish themselves by obtaining business related certifications An avenue to encourage associates to continue to develop their skills Win/Win – Associates increase their knowledge and skills while adding value to the organization and ADP rewards them through additional Compensation
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Eligibility and Enrollment Associates below the VP level Associate and manager complete Pay Agreement Form (Forms on SBS Portal) Associate, Manager and HR Business Partner approve based upon the following: Scheduling of certification approved in advance by management Training method must be approved in advance
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Recognition: Essential Essential Certification-3% increase Has a high value to current position Has a high value to a career development plan Highly recognized in the marketplace Certification is of high complexity/difficult to obtain Must Meet ALL of the above Criteria
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Recognition: Beneficial Beneficial Certification-1.5% increase (Beneficial certifications are of value to the position and organization, but meet only some of the above Essential criteria) Has a high value to current position Has a high value to a career development plan Highly recognized in the marketplace Certification is of high complexity/difficult to obtain
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Knowledge Pay Recognition Essential 3.0% and Beneficial 1.5% to base salary Maximum of 2 certifications/year Will not impact eligibility of annual raise
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Certification Recommendations – New Business Certification Implementation Simple/ POP Education Consulting New Business Development ERISA Consulting Document Compliance ASPPA: Qualified 401(k) Administrator (QKA)3.0% ASPPA: Qualified Pension Administrator (QPA)1.5% Chartered Retirement Plan Specialist (CRPS)1.5% Certified Employee Benefits Spec (CEBS)3.0% CEBS: Retirement Plan Associate (RPA)1.5% Project Management Professional (PMP)3.0%1.5% Chartered Mutual Fund Counselor (CMFC)1.5%3.0% 1.5% Fundamental Payroll Certification (FPC)1.5% * This does not indicate all Certifications eligible for Knowledge Pay. If you feel another certification would be essential or beneficial to your Career Path, please discuss with your Manager and Human Resources Business Partner.
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Certification Recommendations - Service Certification Client Service Relationship & Invesment Management Service Support ASPPA: Qualified 401(k) Administrator (QKA)3.00% ASPPA: Qualified Pension Administrator (QPA)1.50% Chartered Retirement Plan Specialist (CRPS)1.50% CEBS: Certified Employee Benefits Specialist3.0% Project Management Professional (PMP)1.50% Chartered Mutual Fund Counselor (CMFC)1.50%3.00% 1.50% Fundamental Payroll Certification (FPC)1.50% *This does not indicate all Certifications eligible for Knowledge Pay. If you feel another certification would be essential or beneficial to your Career Path, please discuss with your Manager and Human Resources Business Partner.
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Certification Recommendations - Ops Certification Financial Control Compliance UAT Core Operations IT Assurance Executive Deferred Call Center ASPPA: Qualified 401(k) Administrator (QKA)3.0% ASPPA: Qualified Pension Administrator (QPA)1.5% Chartered Retirement Plan Specialist (CRPS)1.5% CEBS: Certified Employee Benefits Spec3.0% Project Management Professional (PMP)1.5% 3.0%1.5% Chartered Mutual Fund Counselor (CMFC)1.5% Fundamental Payroll Certification (FPC)1.5% * This does not indicate all Certifications eligible for Knowledge Pay. If you feel another certification would be essential or beneficial to your Career path, please discuss with your Manager and Human Resources Business Partner.
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Knowledge Pay Reimbursement of Expenses KPP certification reimbursement submitted via an expense report (Concur) Subject to associate retention requirements <$2500-no requirement $2500-$5000-six month retention requirement >$5000-one year retention requirement
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Knowledge Pay Certification Maintenance Encourage and support re-certification but no monetary increase each time Exceptions: Original Certification was not eligible for monetary recognition 2 certifications allowed per calendar year
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Link to Knowledge Pay on Portal https://myadp.adpcorp.com/wps/myportal/AdditionalBenefits
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In Closing… Win/Win-Value/Knowledge/$$ Below VP can participate Pay Agreement Form Manager and HRBP Approval 2 certifications per year Forms/Certification List on Associate Portal
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