Employee Compensation

Catalog description

This course covers one of the main functional areas of Human Resource Management, employee compensation, and prepares students to create and implement effective compensation systems. Compensation systems play a critical role in a variety of ways in creating effective and efficient organizational outcomes. The types and levels of pay are important in an organization's ability to recruit talent. Similarly the ability to retain talent, particularly in the context of competitive global markets, is related to the quality of types and levels of compensation. In this latter context, the course will connect compensation to the manner in which HRER professionals are able to support organizational strategy. The course will also provide illustrations of the primary ways in which compensation contributes to the entire talent management process. For example, the course will provide tools to understand the role equity plays in influencing employee satisfaction with pay policies and practices, and the resulting ways in which employees respond to their assessment of such circumstances. In this context students will learn how compensation policies influence employee motivation, satisfaction, and employee engagement, as well as other ways in which HR professionals respond to compensation-related issues (e.g. employees perception of unfair pay practices).