HRM705 - Compensation Design & Administration

Description:
This course examines compensation and benefits administration and design of compensation systems, job evaluation, internal and external pay equity, wage and salary surveys, pay-for-performance plans and other forms of financial and non-financial incentives. Topics include the pay model, the role of unions, benefit options, pay for performance plans, appraisals, benefit options, and legal issues surrounding wages and benefits in domestic and international settings.

Outcomes:

• Evaluate and assess the various elements of The Pay Model in the context of the design, development, implementation, and evaluation of rewards systems in an organization
• Analyze and evaluate the strategic factors influencing the various levels of rewards systems in the marketplace
• .Appraise the job analysis and evaluation processes used to determine pay level
• Compare and evaluate methods used to measure performance and determine pay level and associated compensation packages
• Assess compensation given to special groups, including union members and international employees (expatriates), and evaluate the various components of these compensation packages
• Construct and manage a reward system

Required Text(s):

Martocchio, J. J. (2017). Strategic compensation: A human resource management approach (9th ed.).New York, NY: Pearson Education. ISBN: 9780134320540.