Compensation Management

Topics: Employment compensation, Salary, Wage Pages: 135 (42860 words) Published: June 21, 2013
Master of Business Administration (MBA - HR)Year I, Semester II | Course Title: Compensation Management-BAH 622|
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March 2013|

MASTER OF BUSINESS ADMINISTRATION: COURSE OUTLINE

1. IDENTIFYING INFORMATION:

Course Title: Compensation Management
Course Code: MBAH 622
Credit Hour: 2
Course Offered to: MBA I Year, II Semester (Regular)
Course Instructor: Dr.Aravind Soudikar
E-Mail: draravindrcr@gmail.com

2. COURSE DESCRIPTION:
This is an upper level human resource management course focusing on both the theories underlying direct compensation and reward systems in organizations, and the practical administrative practices used to implement such systems. Theories and models relevant to employee compensation from the sciences of economics, psychology, and sociology will be examined, particularly as they relate to certain personnel/human resource activities and outcomes including labor force attraction (recruitment), retention, occupational choice, job performance, and job satisfaction. Compensation management practices, including the analysis and evaluation of jobs, criteria and procedures for determining wage levels, individual wage determination, forms of pay, and incentive systems will be covered.

3. COURSE OBJECTIVES:
* To educate the students on the theoretical foundations of reward and remuneration strategies in organizations. * To explain the students the issues in designing the reward systems, the methods and aims of different forms of payment systems; and * To enlighten the students about the performance based compensation. * To become familiar with how compensation surveys are conducted. * To understand job analysis and its relationship to compensation systems. * To understand the role of non-monetary compensation as part of the total compensation package. * To develop an appreciation for the complexity of managing compensation in organizations.

4. COURSE RATIONALE:
As a function of this course, successful students should be better prepared to design and evaluate compensation systems. In addition, students should acquire a working knowledge of legal and social issues regarding compensation practices, and be able to follow future directions and trends in this rapidly changing, complex area of management.

5. COURSE CONTENTS:

UNIT ONE: STRATEGIC ISSUES AND PAY MODEL
1.1 Compensation in Contemporary Society
1.2 Forms of Pay
1.3 Pay Model
1.4 Strategic Perspectives
1.5 Basic Issue: Does “Fit” Pay Off?

UNIT TWO: DEFINING CONSISTENCY
2.1 Internal Consistency and the Pay Model
2.2 Strategy and Pay Structures
2.3 Pay structure and the Pay Model
2.4 Egalitarian versus Hierarchical Structures
2.5 Factors Influencing Internal Pay Structures
2.6 Employee Acceptance
2.7 Consequences of Internal Pay Structures

UNIT THREE: DEFINING COMPETITIVENESS
3.1 Competitiveness and the Pay Model
3.2 Factors Influencing External Competitiveness
3.3 Labor Market Factors
3.4 Labor Demand Theories and Implications
3.5 Labor Supply Theories and Implications
3.6 Product Market Factors and Ability to Pay
3.7 Organization Factors
3.8 Relevant Markets
3.9 Competitive Pay Policy Options
3.10 Consequences of Pay Level Decisions

UNIT FOUR: DESIGNING THE PAY STRUCTURE
4.1 Major Decisions
4.2 Compensation Survey
4.3 Defining the Relevant Market
4.4 Approaches to selecting jobs
4.5 Basic types of data
4.6 Interpret and Apply Survey Results
4.7 Combine Internal Structure and External Wage Rates
4.8 Design Pay Ranges
4.9 Balancing Internal and External Pressures: Adjusting the Pay Structure

UNIT FIVE: PAY FOR PERFORMANCE PLANS
6.1 What is a pay for Performance Plan?
6.2 Specific Pay for Performance Plans

UNIT SIX: BENEFITS DETERMINATION PROCESS
6.1 Growth in Employee Benefits
6.2 The Value of Employee Benefits
6.3 Key Issues in...
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