Service Industry Compensation Development

Catalog description

This course is designed to provide student with an understanding of the methods and implications of compensation development. This course will include hands-on learning experience designing and developing compensation plans for organizations within the lodging and hospitality industry. Students will learn how to design a pay plan, including base pay and pay-for-performance plans. Students taking this course will learn how to design pay ranges and grades for organizations where most jobs can be benchmarked with market data research. The development of incentive plans, merit pay, bonus structures, profit sharing, tipping, and commission systems.