Regulatory Environments for Compensation Programs

Transcription

1 Regulatory Environments for Compensation Programs Learn U.S. Federal Requirements All Compensation Professionals Should Know Human resources professionals are challenged with understanding and staying current with U.S. Federal regulations. This basic-level course presents an overview of the regulatory requirements for compensation programs. You ll cover the major federal statutes that affect compensation design and practice. Analyze the labor regulations that focus on either a specific type of employer or have been utilized in compensation disputes. Examine the many issues related to FLSA, including record-keeping requirements and potential penalties. Explore discrimination legislation relating to compensation. What You Will Learn Regulatory Environment and Related Laws Rights Legislation and the Civil Rights Act of 1991 Overview of regulations Davis-Bacon Act of 1931 McNamara-O Hara Service Contract Act of 1965 National Labor Relations Act of 1935 Sherman Antitrust Act of 1890 Independent contractors vs. employees Fair Labor Standards Act Overview of FLSA Exemption tests Nonexempt employees Hours of work Rate of pay Worker Economic Opportunity Act Child labor rules Record-keeping requirements What FLSA does not require Violations and penalties Age Discrimination in Employment Act (ADEA) of 1967 Vocational Rehabilitation Act of 1973 Americans with Disabilities Act of 1990 Americans with Disabilities Act Amendment Act Civil Rights Act of 1991 Lilly Ledbetter Fair Pay Act Genetic Information Nondiscrimination Act Uniformed Services Employment & Reemployment Act of 1994 Dispute resolutions Documentation, Audits and Communication Documentation Audits and reporting Reporting to management Pay program communication The impact of regulatory changes exercise Equal Employment Opportunity Statutes and Civil Rights Equal Pay Act (EPA) Title VII of the Civil Rights Act of 1964 Comparable worth

2 Accounting and Finance for the Human Resources Professional Learn to Speak the Language of Business This course presents an introduction to U.S. accounting regulations and practices. It will provide you with the understanding you need to interact effectively with accounting and finance departments in your company. Identify the key financial components of the annual report Describe the importance of cash flow to companies and shareholders Focus on the measures and processes used to assess companies financial health Recognize the measures that are affected directly or indirectly by the HR function Explore methods of financing the business and financial planning issues Focus on the relationship between the HR department and the finance department What You Will Learn Introduction to Accounting The total rewards model HR a strategic business partner Governing bodies and policies Major groups of accounts Financial statements Accounting types Financial measures Problems with accounting Underlying principles Components of the annual report The Balance Sheet Assets Liabilities Shareholders equity Summary concept Class exercise Liquidity measures Debt ratios The Income Statement Revenue/sales Cost of goods sold Statement of Cash Flows and Shareholders Equity Statement of Cash Flows o Methods o Categories Statement of shareholders equity Review of the four required statements Financial Analysis Overview of financial measures/ratios Liquidity measures review Debt ratios review Profitability measures Funds management ratios Other performance measures Review of financial measures Class exercise Planning and Financing the Business Financial planning o Typical planning process o Developing business plans o Evaluating capital projects Financing the business

3 Gross margin Operating expenses Other income and expenses Provision for taxes Extraordinary items Net income Earnings per share Return on sales Class exercise Financing sources o Long-term o Leases o Short-term The Strategic Partnership Human Resources and Finance Human resources and finance Recording compensation and benefits costs Wages and salaries Incentive pay Benefits costs Mandatory benefits Welfare benefits Retirement plans Communication

4 C5 Elements of Sales Compensation Course Overview Intended Audience Course Outline

5 C5 Elements of Sales Compensation continued