This course reviews the fundamentals of wage and salary programs, including the development of job descriptions, performing job evaluations, conducting salary surveys, adjusting pay structures, considering area differentials, and relating pay to performance. Benefit programs and related employee incentive and service programs are also covered. Ways to link performance to both monetary and non-monetary rewards will be reviewed, including profit sharing, bonus plans, stock options, awards and special rewards for managerial personnel. Legislative restraints and tax treatments are discussed and behavioral theories are highlighted as they apply in this area. The incorporation of technology as it relates to Human Resource Management Systems that increases efficiency in pay, benefits administration, and aligning HR with organizational activities are also covered. The synthesis of pay, benefits administration and HR technology integrates the selection, development and administration of practical programs and systems for attracting, motivating, and retaining human resources.
- Perform a job analysis, write job descriptions, evaluate the value of specific jobs within an organizational structure.
- Design and conduct a salary survey and develop a pay structure.
- Identify and describe the types of government and union influences on compensation and benefit practices and management techniques for dealing with these influences.
- Describe various kinds of compensation and incentive programs and the situations in which such programs would be effective.
- Develop and manage a total compensation program, including communicating that program to employees.
- Write a compensation policy manual for an organization.
- Make recommendations to management regarding different forms of compensation for employees in different jobs and at different levels in the organizations.
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