- 1.1 Explain different forms of pay, such as base, merit, incentives, and benefits.
- 1.2 Explore compensation strategies used by organizations in different sectors.
This course allows students to explore compensation management systems. Students start by looking at an overview of compensation, and then move on to examine employee motivation. From there, students examine job analysis and evaluation, as well as skill and competency analysis. Students will learn about salary surveys, the concept of pay for performance, performance appraisals, employee benefit determination, legal requirements, and compensation for managers and specialized employees. Students will also explore role of unions in compensation, global pay systems, and law and ethics in compensation. Finally, students will take a closer look at how to manage salary costs and communicate salary changes.
- 2.1 Summarize the impact of organizational culture, work design, and stakeholder inputs on compensation.
- 2.2 Analyze how employee motivational theories influence compensation management.
- 3.1 Review the steps involved in a job analysis.
- 3.2 Explain job evaluation procedures, including compensable factors and design process.
- 4.1 Compare and contrast employee skill and competency.
- 4.2 Describe the competency analysis procedure and discuss the advantages of competency-based training.
- 5.1 Describe the purpose of a salary survey in compensation management.
- 5.2 List steps to design a salary survey with information needed for each step.
- 5.3 Interpret survey results by verifying data and constructing market pay line.
- 6.1 Outline types of team incentive plans and how they are used to motivate employees.
- 6.2 Explore long-term incentive plans and their role in retaining employees.
- 7.1 Explore performance appraisal measuring strategies.
- 7.2 Examine common concerns in appraising performance.
- 8.1 Describe reasons why enhancing employee benefits is crucial.
- 8.2 Outline key employee benefit determination considerations.
- 8.3 Review approaches to enhance benefits for employees and managers.
- 9.1 Identify legally required benefits, savings plans, and medical-related coverage.
- 9.2 Summarize current trends in mandatory health care and employee savings plan proposals.
- 10.1 Explore compensation structures for different levels of management.
- 10.2 Explain pay issues in the high-tech industries and academia.
- 10.3 Examine ways to pay salesforce and contingent workers.
- 11.1 Analyze unions’ roles on wage determination.
- 11.2 Explore alternative reward systems for union members.
- 12.1 Examine social, legal, and cultural factors influencing the pay structure.
- 12.2 Explain the national systems in different regions of the world.
- 12.3 Explore the strategic market mindset relating to global compensation systems.
- 13.1 Describe the components of pay required by law.
- 13.2 Discuss discrimination and other ethical issues in compensation.
- 14.1 Analyze ways to manage salary costs and employee development related expenses.
- 14.2 Outline best practices in communicating compensation changes with employees.
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