MGMT 44431

Compensation: Total Rewards
MGMT 4431 Compensation: Total Rewards Summer 2021

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About the Course
This course examines the tangible and intangible aspects of compensation, through the lens of a total reward philosophy of an organization in order to attract, motivate, and retain their human capital.  It also provides an overview of the considerations necessary to develop a compensation system that is internally and externally equitable and fiscally responsible, including the use of job evaluation and salary surveys.
Course Goals/Learning Objectives
1.  Evaluate the pay model and pay strategy.
2.  Distinguish between total rewards and compensation and identify compensation and non-compensation elements of total rewards.
3.  Recognize various reward systems, their relationship and connection to a total compensation and benefits philosophy, and how they impact the quality of work and productivity in orgranizations.  
4.  Assess the practical issues in compensation and employee benefits in light of a company's management philosophy and human resources strategies.
5.  Evaluate different benefits options in light of the benefit determiniation process.
6.  Explain how to compensate engineers, scientists, executives, and salespersons.
7.  Recognize how global forces impact compensation philosophy and strategy.
8.  Explain how the government and laws impact the employment relationship.

MGMT 44431

Course Catalog
MGMT 44431 Compensation: Total Rewards

Description
Credit Hours: 3.00. This course examines the tangible and intangible aspects of compensation, through the lens of a total reward philosophy of an organization in order to attract, motivate, and retain their Human Capital. It also provides an overview of the considerations necessary to develop a compensation system that is internally and externally equitable and fiscally responsible, including the use of job evaluation and salary surveys. Typically offered Fall Spring Summer.
3.000 Credit hours
Levels:  Graduate, Professional, Undergraduate
Schedule Types:  Distance Learning, Lecture
Offered By:  School of Management
Department:  School of Business Admin
Course Attributes
Upper Division
May be offered at any of the following campuses:  West Lafayette
Learning Objectives
1. Evaluate the difference Total Rewards programs can make in organizations. 2. Distinguish between total rewards and compensation and identify compensation and non-compensation elements of total rewards. 3. Recognize various reward systems, their relationship and connection to a total compensation and benefits philosophy, and how they impact the quality of work life and productivity organizations. 4. Assess the practical issues in compensation and employee benefits in light of a company's management philosophy and human resources strategies. 5. Define job evaluation and its use to develop internally equitable compensation systems. 6. Identify the implications of using salary surveys to ensure externally equitable and fiscally responsible compensation systems. 7. Explain the concepts of salary administration and application of compensation programs in the business environment. 8. Better understand effective salary and wage structures in organizations today. 9. Explain the relationship between performance evaluation methods and reward systems. 10. Discuss the legal aspects of compensation, benefits and performance appraisals.
Prerequisites
Undergraduate level OBHR 33000 Minimum Grade of C- and (Undergraduate level MGMT 44428 Minimum Grade of C- or Undergraduate level MGMT 44301 Minimum Grade of C-)
Other Information
Restrictions:  Must be enrolled in one of the following Classifications: Junior: 75 - 89 hours Senior 90 - 104 hours Sophomore: 30 - 44 hours Sophomore: 45 - 59 hours Junior: 60 - 74 hours Senior 105+ hours