Components of Workplace Compensation

In exchange for their time, talents and efforts, workers expect fair and motivating pay. This class covers the basics of compensation theory and practice. Job analysis and job evaluation, pay equity considerations, market rates and surveys, the various types of compensation, and other related topics of interest to human resources professionals will be explored. Students will be introduced to incentive pay concepts and to major pay regulations. Understanding will be reinforced with exercises and applied learning activities.

Learning Outcomes

By the end of the course, students will:

1. Understand the basic components of compensation planning and administration.
2. Become familiar with compensation legislation and incentive pay.
3. Conduct a job analysis and job description and understand the hierarchy of jobs and/or job families.
4. Understand salary surveys and use them in a practical setting.