The course objective is to provide an integrated view of compensation and benefits systems that are an essential element of human resource management strategies; examine both what we traditionally think of as compensation (base pay, bonuses, stock options) and how organizations offer new benefits which are valuable to employees which are increasingly costly to the organizations that provide them; focus on how managers can utilize compensation to attract, retain, and motivate qualified employees; and provide students with both an understanding of the theories underlying pay system design and hands-on experience by applying these theories in practice.