Compensation and Benefits

This course focuses on the principles and practices of designing and managing employee compensation and benefits programs in organizations. This course covers key topics such as job evaluation, salary structures, incentive systems, employee benefits, and legal compliance in compensation management. Students will learn how to develop competitive compensation strategies that attract, motivate, and retain employees while aligning with organizational goals and budget constraints. Through case studies and practical exercises, students will explore real-world applications of compensation and benefits management.

Upon successful completion of this course, students will be able to:

• Compensation Strategy Development: Students will learn how to develop compensation strategies that align with an organization’s business objectives, considering factors such as internal equity, external competitiveness, and pay-for-performance models.
• Job Evaluation and Pay Structures: Gain proficiency in conducting job evaluations, designing salary structures, and determining appropriate compensation levels based on market data and job analysis.
• Employee Benefits Design and Administration: Learn to design and administer employee benefits programs, including health insurance, retirement plans, paid time off, and wellness initiatives, ensuring they meet the needs of employees while staying within budget constraints.
• Legal and Ethical Compliance: Understand the legal requirements and ethical considerations in compensation and benefits management, ensuring compliance with labor laws such as the Fair Labor Standards Act (FLSA) and other relevant regulations.

These outcomes are designed to prepare students for roles in human resource management, specifically focusing on compensation and benefits, equipping them with the tools to design effective, fair, and legally compliant rewards systems that support organizational goals.