Course
Syllabus
UHRM 352-01, COMPENSATION
AND BENEFITS
Instructor: Gerald “Jerry” Fabre Home Phone: (504) 486-2368
Max Enrollment: 30 per section E-Mail: gdfabre1@aol.com
Credit Hours: 3 hours
Text: Strategic Compensation – Joseph J. Martocchio; 3rd ed
Objectives: The course objective is to provide a solid understanding of the art of compensation practice and its role in promoting companies’ competitive advantages. It is assumed that students will be prepared best to assume the role of competent compensation strategist if they possess a solid understanding of compensation practices. Thus, we will examine the context of compensation practice, the criteria used to compensate employees, compensation system design issues, employee benefits, and contemporary challenges that compensation professionals will face well into the twenty-first century.
Attendance Policy: Since quality of class participation will significantly impact grade, attendance is important. In the event of an absence, student should
· notify instructor in advance of absence
· assume responsibility for material covered, assignments and updated test schedules
Make-Up Policy: Make up exams and assignments will be at the discretion of the instructor, based upon reasonableness of absence and timeliness of request by student.
Contact Information and Office Hours:
Students may contact instructor by phone (504) 486-2368 to schedule an appointment.
1. Compensation: A Component of Human Resource Systems
Learning Objective(s): Student will learn about
Ø Basic compensation concepts and the context of compensation practice
Ø Compensation professionals’ goals within an HR Department
Ø How compensation professionals accomplish their goals
Ø How compensation professionals relate to various constituencies
Ø The changing compensation environment
2. Strategic Compensation: Attaining a Competitive Advantage
Learning Objective(s): Student will learn about
Ø A historical perspective on compensation
Ø The difference between strategic and tactical compensation
Ø Two competitive strategies that companies pursue: cost leadership and differentiation
Ø Factors that influence companies’ competitive strategies and compensation practices
Ø Evaluating the effectiveness of compensation strategies
3. Contextual Influences on Compensation Practice
Learning Objective(s): Student will learn about
Ø Compensation and the social good
Ø Various laws that influence private sector companies’ and labor unions[‘ compensation practices
Ø Contextual influences on the federal government’s compensation practices
Ø Labor unions’ influence on compensation practices
Ø Market factors’ impact on compensation practices
Part 2: Bases for Pay
4. Traditional Bases for Pay: Seniority and Merit
Learning Objective(s): Student will learn about
Ø
Ø How seniority pay practices fit with two competitive strategies, lowest-cost and differentiation
Ø
Ø The role of performance appraisal in merit pay
Ø Ways to strengthen the pay-for performance link
Ø Limitations of merit pay programs
Ø How merit pay programs fit with the two competitive strategies, lowest-cost and differentiation
5. Incentive Pay
Learning Objective(s): Student will learn about
Ø How incentive pay and traditional pay systems differ
Ø Plans that reward individual behavior
Ø A variety of plans that reward group behavior
Ø The most broadly used incentive plan, profit sharing
Ø Considerations for designing incentive pay
Ø How individual, group, and gain sharing incentive plans contribute to differentiation and lowest-cost competitive strategies
6. Pay for Knowledge and Skill-Based Pay
Learning Objective(s): Student will learn about
Ø Pay for knowledge concepts and the kinds of skills of skills and knowledge that apply
Ø Usage of pay-for-knowledge and skill-based pay programs
Ø Reasons companies adopt pay-for-knowledge and skill-based programs
Ø Pay-for-knowledge plan and skill-based pay variations
Ø Contrasts between pay for knowledge systems and incentive (variable) pay or merit pay concepts
Ø Advantages/disadvantages of pay-for-knowledge plans and skill-based pay plans
Ø How pay-for-knowledge plans and skill-based pay plans fit with differentiation and lowest cost competitive strategies
7. Building Internally Consistent Compensation Systems
Learning Objective(s): Student will learn about
Ø The importance of building internally consistent compensation systems
Ø The process of job analysis
Ø Job descriptions
Ø The Dept. of Labor job analysis methodology
Ø The process of job evaluation
Ø A variety of job evaluation techniques
Ø Alternatives to job evaluation
Ø Internally consistent compensation systems and competitive strategy
8. Building Market-Competitive Compensation Systems
Learning Objective(s): Student will learn about
Ø Market-competitive compensation systems
Ø Strategic analysis factors
Ø Compensation surveys
Ø Integrating the internal job structure with external market pay rates
Ø Compensation policies and strategic mandates
9. Building Pay Structures That Recognize Individual Contributions
Learning Objective(s): Student will learn about
Ø Fundamental principles of pay structure design
Ø Merit pay system structures
Ø Sales incentive pay structures
Ø Pay-for-knowledge structures
Ø Pay structure variations: broadbanding and two-tier wage plans
10. Legally Required Benefits
Learning Objective(s): Student will learn about
Ø Which employee benefits are legally required
Ø The Social Security Act of 1935 and its mandated protection programs – unemployment insurance, benefits for dependents, and Medicare
Ø Compulsory state disability laws (worker’s compensation)
Ø The Family and Medical Leave Act of 1993
Ø Some of the implications for strategic compensation and possible approaches for managing legally required benefits
11. Discretionary Benefits
Learning Objective(s): Student will learn about
Ø The role of discretionary benefits in strategic compensation
Ø The various kinds of protection programs
Ø The different types of pay for time-not-worked
Ø A variety of employee services
Ø The considerations that go along with designing and planning discretionary benefit programs
Ø How discretionary benefits fit with differentiation and lowest-cost competitive strategies
Grading and
Course Requirements:
· In addition to the required textbook, students should bring a calculator to class in order to complete problem-solving assignments.
· Homework will be required in preparation for each class meeting. Active, constructive class participation is expected and will be a component of your overall class grade.
· There will be four (4) tests and each will be announced in advance of the test day. If a student misses class, he/she is responsible for finding out about test announcements and homework assignments. Scheduled exam are tentatively scheduled as follows:
Exam
1:
Exam
2:
Exam
3:
Exam
4: