HRM 435 Total Compensation

5 credits

This course reviews the total rewards of organizations by exploring their total compensation strategies. Methods to properly pay employees in a cost-effective, competitive, equitable, and legal manner are addressed. Students will develop a fundamental compensation plan for an organization.

Prerequisites: Admission to a Bachelor of Applied Science (BAS) program or instructor permission required

Course Outcomes
Upon successful completion of this course students will be able to:

Discuss the components of total compensation
Describe the objectives, principles, regulations, and terminology of compensation programs
Identify the major provisions of the federal and state laws affecting compensation
Examine the issues of equal pay, pay compression, living wage, and executive pay
Explain the value of variable pay programs
Analyze the linkages between pay, employee performance, and organizational objectives
Develop compensation philosophy, strategy, and current practices, including base pay, variable pay, and incentive pay
Develop a fundamental compensation plan for an organization

Total Hours: 50 Theory (Lecture) Hours: 50