It has only been during the past 30-40 years that the fields of compensation and benefits emerged as separate and distinct professions. For many years, compensation and benefits, which were referred to as "wage and salary administration" and "fringe benefits" were sidelines performed by those employees responsible for human resources, which was called "personnel". Consulting organizations, such as Hay Associates provided training in their method of job evaluation and educational institutions such as the Wharton School provided training in the area of insurance and pension administration under the auspices of the insurance department in the business school. The organization now known as World at Work traces its history back only as far as 1955 to an association in the state of Ohio.
In the 21st century, college students can take coursework in various aspects of compensation and benefits in colleges throughout the country, and can major in human resources. WorldatWork offers certification programs, comparable to graduate level coursework in both compensation and benefits, and over 20,000 professionals are certified. Continuing education in the field is available from local and national associations, as well as academic institutions.
As industry changes and business throughout the world becomes more interdependent, compensation and benefits will take on a more global look in the future. It will not be sufficient to know about compensation and benefits practices in one country. Best practices from countries throughout the world will have an impact on local businesses. The flow of information about these practices will increase and expand rapidly because of increased use of technology.
At the same time, the need to gather together to learn new practices, to network and share information will still be there. Organizations such as the Atlanta Area Compensation Association will fill that role. |
