Mastering Employee Benefits: Build Strategic Rewards Systems

Design strategic benefits packages to attract, retain, and motivate employees while boosting your organization’s success

What you'll learn

Understand the history, role, and strategic importance of employee benefits in the Total Rewards system.

Design and implement various types of benefit programs, including healthcare, well-being initiatives, and work-life balance schemes.

Develop a business case for benefits, calculate ROI, and align benefits with employer branding and organizational goals.

Create flexible benefits plans, analyze existing programs, and automate benefits management using advanced tools.

Requirements

There are no prerequisites for this course; it is designed for HR professionals, benefits managers, and anyone interested in developing effective employee benefits packages.

Description

The “Developing a Benefits Package” course at Mike Pritula Academy is designed to equip HR professionals and benefits managers with the knowledge and tools to create strategic benefits packages that attract, retain, and motivate employees.What You’ll Learn:• Understanding Benefits: Explore the history and role of benefits within the Total Rewards system, including current research on employee preferences.• Types of Benefits: Gain insights into mandatory benefits, healthcare, paid time off, employee well-being initiatives, work-life balance programs, discount schemes, and other benefit types.• Building a Business Case and ROI Calculation: Learn to link benefits to the employer brand, justify them through employee research, competitor analysis, and demonstrate their economic value to the company.• Flexible Benefits Design: Understand what flexible benefits are, how to design them, and review examples of successful implementations.• Developing and Budgeting a Benefits Strategy: Conduct internal and external research, assess employee opinions, identify benefit needs, analyze the effectiveness of existing benefits, and create a benefits budget.• Benefits Automation: Explore platforms and tools for automating benefits management, including capabilities within universal HRIS and offerings from providers.Course Program:1. What Are Benefits:• History and development of benefits.• Role in the Total Rewards system.• World@Work benefits model.• Addressing business challenges.• Current research on employee benefit preferences.• Real company case studies.2. Types of Benefits:• Mandatory benefits.• Employee healthcare.• Compensation for non-working hours.• Employee well-being initiatives.• Work-life balance programs.• Discount schemes.• Other benefit types.3. Business Case for Benefits and ROI Calculation:• Linking benefits to the employer brand.• Justification through employee research and importance.• Competitor analysis.• Demonstrating economic benefits to the company.4. Flexible Benefits:• Definition and importance of flexible benefits.• Designing flexible benefits programs.• Examples of flexible benefits.5. Developing and Budgeting a Company Benefits Strategy:• Researching internal and external environments.• Studying employee opinions.• Identifying benefit needs.• Analyzing the effectiveness of existing benefits.• Benefits budgeting.6. Benefits Automation:• Benefits automation platforms.• Capabilities of universal HRIS.• Offerings from providers.Course Features:• Expert Instruction: Learn from Mike Pritula, a seasoned HR leader with extensive experience in developing effective benefits packages.• Flexible Learning: Access six recorded lessons at your own pace.• Practical Application: Complete homework assignments with personalized feedback to reinforce learning.• Interactive Community: Join a dedicated Q&A chat to discuss topics and share experiences with peers.• Certification: Receive a diploma upon successful completion of the course, enhancing your professional credentials.Who Should Enroll:• HR Professionals and Benefits Managers: Individuals responsible for managing and developing benefits packages within their organizations.• Compensation and Benefits Specialists: Professionals aiming to enhance their expertise in benefits strategy and implementation.• Business Owners and Managers: Leaders seeking to attract, retain, and motivate employees through effective benefits offerings.By mastering the development of a strategic benefits package, you can significantly contribute to your organization’s ability to attract, retain, and motivate top talent. Enroll now to enhance your skills and advance your career in HR!

Overview

Section 1: Mastering Benefits Management

Lecture 1 What are the benefits

Lecture 2 Types of benefits

Lecture 3 Business case for benefits and calculation of return on investment

Lecture 4 Flexible benefits

Lecture 5 Developing and budgeting a company benefit strategy

Lecture 6 Benefit automation

This course is for HR professionals, benefits managers, and business leaders responsible for designing and managing employee benefits. It’s also ideal for compensation and benefits specialists looking to enhance their expertise, as well as business owners seeking to attract, retain, and motivate talent through strategic benefits offerings.