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Catalog description

This course requires students to learn the link between company's strategy and compensation, and understand core policies necessary to develop effective compensation systems. The core policies include internal alignment, external competitiveness, and employee contribution. First, theoretical frameworks of human resource management and corporate strategies will be discussed to define the relationship between company's strategy and compensation philosophy. Students then will study how to establish internally consistent and fair pay levels for various jobs using techniques such as job analysis, job evaluation, and competency analysis. The course then will discuss how to collect and analyze salary data and covers 'pay for performance' where students learn the concept of performance management and various incentive practices at the individual, team, and organizational levels. The course will be finalized with the discussion of employee benefits. In this section, students will discuss various benefit options that companies can provide, and various legal issues.