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May 01, 2024
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MS 4411 - Compensation System Design3 lecture hours 0 lab hours 3 credits
Course Description
This course examines various aspects of compensation involving the design and evaluation of jobs; the measurement and recognition of individual and/or group performance; designs to attract, maintain and motivate good people; as well as to protect, reward, and enhance work life and organizational results. (prereq: Junior standing)
Course Learning Outcomes
Upon successful completion of this course, the student will be able to:
• Describe the major components of total returns for work, and describe the four strategic policies in the pay model used by contemporary organizations
• Develop an understanding of the leading edge compensation and benefits practices
• Illustrate how good compensation policies and practices add value to an organization
• Be aware of the compensation challenges posed by global operations
• Present a formal oral and written report of their design of a comprehensive compensation system
Prerequisites by Topic
• No prerequisites by topic appended.
Course Topics
• The Pay Model (2 classes)
• Strategic perspectives and the total rewards philosophy (2 classes)
• Job analysis and evaluation (6 classes)
• Person-based pay structures
• External competitiveness and designing pay structures (6 classes)
• Pay for performance and appraisal systems (6 classes)
• Employee benefits
• Process equity (5 classes)
• Exams (3 classes)
Coordinator
Larry Schmedeman
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