HRM-540 Lifestyle Benefits and Compensation in The New Millennium
This course examines both the theory and practice of total compensation. Topics include strategic compensation, employee compensation and benefits, job evaluation, external competitiveness and market analysis, incentives and variable pay, employee motivation, compensation administration, and the compensation of special groups. A variety of approaches are employed to examine organizational compensation policy and design. Consideration is given to the interaction between human resource managers and managers throughout the organization in order to realize effective compensation programs. This course balances theory and practice. There will be many opportunities to apply compensation theory in required weekly discussions and in both the individual and group projects. The course will emphasize the strategic aspects of compensation and how the organization can achieve a sustainable competitive advantage through compensation policy/programs. By the end of this course, students should have a very in-depth understanding of how to establish, organize, and administer an effective and equitable compensation system.