Compensation and Benefits

Catalog description

Students will explore the link between company strategy and compensation practices to understand the core policies necessary to develop effective compensation systems. These core policies include internal alignment, external competitiveness, and employee contribution. Methods for developing internally and externally equitable pay grades and the impact of taxation on employee compensation are also explored. International compensation, executive compensation, and compensating a contingent workforce are also discussed. The course will discuss how to collect and analyze salary data, and it addresses 'pay for performance' to enable students to learn about the concept of performance management and various incentive practices at individual, team, and organizational levels. The course also covers topics in employee benefits including discretionary benefits (e.g., tuition reimbursement) and mandatory benefits (e.g., Family and Medical Leave Act) offered by employers.