Mar 29, 2024  
Course/Program Inventory 
    
Course/Program Inventory

BUSN 2354 - Compensation Management



Credit hours: 3

Course Description:
This course covers the four basic policies that every employer must consider in managing compensation: 1) internal consistency; 2) external competitiveness; 3) employee contributions; and 4) administration of the pay system. The integrating of these four factors plus compliance, the government’s role in compensation, pay discrimination, managing the system, and the role unions play in salary administration are discussed.

Student Learning Outcomes:
Students will be able to: 

  1. Demonstrate an understanding the concept of a compensation strategy, where it comes from, how it relates to the organization’s situation, and why the concept has value.
  2. Demonstrate and understanding of why internal consistency is an important pay policy issue and how to evaluate internal consistency.
  3. Identify the importance of job analysis and its relationship to internal consistency.
  4. Contrast the differences and similarities between job evaluation, skill-based plans, competency-based plans, and market pricing.
  5. Demonstrate an understanding of the importance of external competitiveness to the pay model.
  6. Identify all of the steps involved in designing a pay survey.
  7. Analyze the reasons for the popularity of alternative reward systems.