Course

Objective:

Learning Outcomes:

• Define compensation, list the different forms of pay, and describe the pay model
• Define internal alignment, determine what factors shape internal structure, and analyze the strategic choices involved in designing internal structure
• Discuss a job description based on the data collected
• List the types of skill plans
• Create a skills analysis and a competency analysis
• Determine the factors that shape external competitiveness, describe the competitive pay policy alternatives and describe the consequences of pay level and mix decisions
• Determine how performance pay can motivate employee behavior and design a pay-for-performance plan
• Identify compensation strategies for supervisors, corporate directors, executives, scientists, engineers, sales forces, and contingent workers
• Describe the impact of unions on wage determination and union attitudes toward alternative reward systems
• Determine the reasons for variations in global pay systems, compare the costs of pay systems in different countries, and describe the elements that determine expatriate pay
• Describe the laws that regulate pay in the workplace, define discrimination, and analyze the causes of pay differences in the workplace
• Compare compensation strategies, list the steps in developing a total compensation strategy, and determine sources of competitive advantage
• List the major decisions that go into a job evaluation and evaluate the different methods used to create a job evaluation
• Describe the purposes of a survey, how to design one, and create a market pay line using survey information
• List the types of team incentive plans and long-term incentive plans
• Analyze the strategies for better understanding and measuring job performance, including common errors in appraising performance, and evaluate how pay can be tied to performance appraisals
• Describe the growth in employee benefits
• Describe the key issues in benefits planning, design, and administration and list the main components of a benefit plan
• Identify the legally required benefits, retirement and savings plan payment benefits, medical, and medical-related benefits
• Determine methods of controlling salary levels, list the embedded controls that exist within a pay system, and effectively communicate changes in a pay system.

General Topics: