Course Description: An examination of financial reward systems in organizations and the study of relevant theoretical and legal perspectives. Topics include job evaluation, wage surveys, incentives, pay equity, benefits, and compensation strategy.
Prerequisite: MGT 331 or permission of instructor required
Textbooks: Henderson, R.I. (2005). Compensation Management in a Knowledge-Based World (10th Edition), Prentice Hall. ISBN: 0131494791
Learning Outcomes: After completing this course students will be able to: 1) Explain and integrate the core values of Integrity, Respect, Responsible Stewardship, and a sense of Community as relates to compensation issues. 2) Identify and describe the impact of federal legislation on compensation and benefit plans. 3) Identify key features of a wide variety of benefit plans. 4) Explain how an organization’s total compensation system promotes external competitiveness and internal effectiveness. 5) Articulate the methods of analyzing jobs, writing job descriptions, evaluating the relative internal worth of jobs, and redesigning positions. 6) Determine a cost-effective base pay and incentive pay structure. 7) Analyze strategic issues in designing pay structures, administering benefit plans, containing health-care costs, and communicating the system to employees.
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