Road to riches: compensation management can put you on the path to success

HR Magazine, June, 2004 by Kathryn Tyler

Online Resources

See the online version of this article at www.shrm.org/hrmagazing/04June for more information about compensation, including links to:

* A webcast from the Society for Human Resource Management [SHRM] Compensation & Benefits Forum that examines the latest compensation trends and their impact on employers.

* Organizations that offer compensation management courses and certification.

* Previous HR Magazine articles on compensation.

* SHRM tools for compensation management.

RELATED ARTICLE: Certificate or Certification?

A "certificate" and a "certification" may sound like the same thing, but they are vastly different. A certificate merely states you have completed a certain course or group of courses.

In contrast, certification means that you have passed one or more examinations developed by a professional organization in your field, thereby demonstrating that you have a certain level of knowledge. Individuals who become certified may place recognized designations (acronyms) after their names and often must agree to adhere to a code of conduct.

"Our organization, as well as others, offers compensation programs that individuals may undertake instead of certification or while they are pursuing certification," says Bonnie Kabin, CCP, director of professional development and certification for WorldatWork, a nonprofit professional association in Scottsdale, Ariz.

Also, the International Foundation of Employee Benefit Plans (IFEBP), in addition to its certification programs, offers a certificate series in topics such as compensation and benefits, and compensation management. "It's a well-rounded, broad overview of compensation concepts," says Barbara Swarthout, SPHR, CEBS, director of the educational program for IFEBP in Brookfield, Wis. "It's good for those who are brand-new to the field or HR generalists looking for a refresher."

Some companies offer certificates, but not certification. For instance, HRCertification.com offers a certificate program in compensation. "Our online programs give the managers the ability to check their employees' progress and test scores," says Charlie Bross, president of HRCertification.com, based in Alpharetta, Ga.

KATHRYN TYLER, M.A., IS A FREELANCE WRITER AND FORMER HR GENERALIST AND TRAINER IN WIXOM, MICH.