Course Information

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CEBS Compensation 1
Compensation: Concepts and Principles

This is a required course for the CMS designation and also for the CEBS designation.

NOT OFFERED THIS SEMESTER

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This course provides a framework for understanding various types of compensation approaches. The course 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. The course 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 compensation of special groups, external market forces that impact compensation, the collective bargaining process, and the role of government and legal compliance issues in determining compensation practices. 

Assignment Topics

1. Compensation Management: A Strategic Perspective and Framework for Analysis
2. Internal Alignment of Organizational Pay Structures
3. Job Analysis--The Initial Step in Job-Based Pay Systems
4. Job Evaluation: Measuring Content, Value, and External Market Links
5. Person-Based Pay Systems
6. Competitiveness and Compensation
7. Designing Pay Levels, Mix and Pay Structures
8. Pay for Performance
9. Pay-for-Performance Plans
10. Performance Appraisal
11. The Benefits Determination Process
12. Benefits Options
13. Compensation of Special Groups and Union 's Role in Wage and Salary Administration
14. International Pay Systems
15. Issues, Budgets and Administration of Compensation

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Last Updated:  Wednesday, June 19, 2002