Certified Compensation Professional (CCP): Certification, Requirements & Careers

You may be wondering, what is CCP designation? All certified compensation professionals require their CCP designation, administered by the WorldatWork Society of Certified Professionals - a professional organization for human resource employees. CCP certification demonstrates the individual's knowledge in how to design and implement effective compensation programs, adhering to legal and regulatory requirements, and communicating essential compensation information.

Completing a CCP certification program involves passing a series of exams, which touch upon topics such as total rewards management; job analysis, documentation, and evaluation; and accounting and finance. A CCP certification cost can be determined by contacting WorldatWork for registration.

There are no formal CCP certification requirements in terms of education; however, knowledge of compensation, performance-based pay, market pricing, variable pay and employee analysis, among other topics, is needed to pass the nine exams required to earn certification. These exams also cover total rewards management, accounting and compensation certification programs regulations. Candidates have eight years to pass all of the exams and obtain professional compensation certification. CCP certificate programs can be taken in order to prepare for certification.

Is Certification Worth It?

While certification is voluntary, it can be extremely valuable. Employers will look for candidates who have taken the extra steps to get CCP certification as this demonstrates increased dedication to the job and a broad knowledge base of relevant information. On the other hand, CCP certification can be a lot of work, requiring multiple examinations and a great deal of study. Be sure to look at all of your options and consider looking at job ads for compensation professionals near you to see whether they mention desiring CCP certification for their applicants. As with many jobs, more education tends to be better than less, so certification is likely to do a good deal of good in your future career even if it is a lot of work at the time. It is also worth noting that certification is becoming more common in the industry, and that CCPs in the future are likely to need more certification, not less.

Recertification

To maintain their credentials, CCPs must earn 12 credits of continuing education every 36 months. They can earn these credits by attending conferences, completing educational courses and teaching classes. To start their recertification, individuals must begin their Recertification Application form at the WorldatWork website, where all their credits will be recorded.

Maintaining your certification can help you stay on top of the latest trends and industry changes within your field. Such continued training can also help expand your professional network, gain further credibility, and help you advance in your overall career.

Certified compensation professionals work in a number of different industries in order to consult with businesses about their employee compensation plans. Generally, only larger companies with over a thousand employees hire professional compensation consultants, as smaller businesses do not have as many payrolls to keep track of. The actual industry that the company is involved in is of little importance; CCPs can work in healthcare, sales, office work, manufacturing, law, agriculture, and many more sectors of the economy. They generally answer to the head of a company's HR department.

CCPs need to be highly detail-oriented with an excellent understanding of the needs of their company and industry. They need a good business sense to figure out the best ways for companies to meet their financial goals while also fairly compensating their employees. CCPs benefit from keeping a close eye on their company's competitors and the wages that they offer in order to retain and acquire employees. Excellent mathematics skills, particularly in finance management, are an asset to CCPs.

Although CCPs have eight years to complete certification if they desire it, most CCP certification prep programs can be completed in two or three years if students spend around 20 hours a week on the curriculum. It is therefore possible to obtain certification while also working part-time or full-time rather than spending another full two or three years in school. These prep programs are not required, however, and it is possible to simply take the certification exams. A passing grade is 75% according to WorldatWork, though it is possible to retake failed exams for a fee. WorldatWork also recommends that prospective CCPs have experience in the field before obtaining certification if at all possible, though this is not a requirement and dedicated study may be sufficient for many people to pass the CCP certification examinations.

According to the BLS, overall employment of compensation and benefits managers was projected to increase by 3% from 2019-2029, about as fast as the national average. Candidates with certification and a graduate degree, coupled with several years' experience, are forecast to have the best job opportunities.

As of May 2019, compensation and benefits managers had a median annual salary of $122,270 per the BLS.