BUS E32 Compensation Concepts and Principles - CMS 2

Provides a framework for understanding various types of compensation approaches. Begins by presenting a pay model outlining strategic compensation objectives, policies that form the foundation of a compensation system and alternate techniques that can be used in paying employees. Distinguishes between job-based and person-based pay structures and the ongoing management functions that maintain internal alignment, enhance organizational competitiveness, and create employee incentives within these various types of pay systems. Methods for decision-making regarding pay level, pay mix and pay structures are explored. Various pay-for-performance plans are explained along with research evidence concerning their effectiveness in motivating employees and achieving business objectives. The course also examines the role of government and legal compliance issues in determining compensation practices.

Credit Hours: 2.0 AEC