Mar 29, 2024  
2020-2021 Course Catalog 
    
2020-2021 Course Catalog [ARCHIVED CATALOG]

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MGT 190 - Employee Comp & Benefit Mgt

Credits: 3
Lecture Hours: 3
Lab Hours: 0
Practicum Hours: 0
Work Experience: 0
Course Type: Voc/Tech
Employee Compensation and Benefits will develop students’ knowledge in the area of compensation and benefit practices including job evaluation, salary surveys, individual and group performance based pay plans, health insurance, wellness programs, pensions, and the associated legal environment. Compensation and benefit management theories will be integrated with organizational goals and objectives severing as the overall foundation for development and implementation. the role technology plays in training, and organizational involvement in career management.
Competencies
  1. Assess the role Strategic Compensation plays in the workplace.
    1. Characterize strategic compensation decisions
    2. Identify the structural elements necessary in a dynamic strategic compensation system. 
    3. Identify the stakeholders of the compensation functions of an organization.
  2. Interpret the types of base pay in organizations.
    1. Identify seniority and longevity pay practices.
    2. Explain the role merit pay can play in employee motivation.
    3. Explore the role performance appraisals play in compensation methods.
  3. Explore the role incentive pay plays in an organization
    1. Understand the differences between incentive pay methods and traditional base pay.
    2. Review the types of individual incentive pay.
    3. Review types of group and company incentive pay.
    4. Discuss best practices to utilize when designing incentive pay.
  4. Translate the usages of person-focused pay.
    1. Explain the reasons companies choose to utilize person-focused pay.
    2. Explore the types of person-focused pay plans.
    3. Explain the advantages and disadvantages of person-focused pay.
  5. Analyze the concepts of internal consistency for ensuring fair compensation and benefit practices. 
    1. Summarize the practices of job analysis and job evaluation processes. 
    2. Explain the techniques used to complete a job evaluation.
    3. Translate the strategies behind internal consistency and competition in compensation and benefit practices relate.
  6. Explain the concept of market-competitive compensation systems.
    1. Summarize the activities compensation professionals engage in to create these systems.
    2. Discuss compensation survey practices.
    3. Describe how compensation professionals integrate internal job structures with external market pay rates.
    4. Explain the basic concepts of compensation policies and strategies.
  7. Explain the concept of pay structures and the steps necessary to construct pay structures.
    1. Discuss the components of merit pay systems.
    2. Summarize the features of sales compensation plan design.
    3. Describe the essentials of person-focused pay program design.
    4. Summarize pay structure variations.
  8. Assess the origins of discretionary benefits.
    1. Explain the categories of discretionary benefits.
    2. Interpret the legislation that pertains to discretionary benefits.
    3. Discuss the fundamentals of designing and planning the benefits program.
    4. Explain the benefits and costs related to discretionary benefits.
  9. Interpret the history of legally required benefits.
    1. Summarize the four main categories of legally required benefits.
    2. Describe fee-for-service plans, traditional managed care approaches, and more recent consumer-driven approaches to providing health care coverage.
    3. Summarize key laws pertaining to legally required benefits.
    4. Compare and contrast the pros and cons of legally required benefits from a stakeholder perspective.
  10. Explain the differences between executive pay and pay for nonexecutives.
    1. Define what qualifies as executive status.
    2. Explore the components of executive compensation packages.
    3. Discuss the practices of setting executive compensation.
    4. Summarize the executive compensation disclosure rules and the reasons why they have been established.
    5. Review the executive compensation controversy as it relates to whether U.S. executives are paid too much.
  11. Discuss the compensation practices of the flexible workforce.
    1. Describe the groups of contingent workers.
    2. Discuss pay and benefits issues for contingent workers.
    3. Summarize the types of flexible work schedules.
    4. Discuss the pay and employee benefits issues for flexible work schedules, compressed workweeks, and telecommuting arrangements.
    5. Describe unions’ reactions to contingent work and flexible work schedule arrangements.
    6. Identify strategic issues and choices companies have regarding the use of contingent workers.
  12. Review practices of International Compensation and Expatriates.
    1. Describe and explain preliminary considerations compensation professionals should take under advisement before designing international compensation programs.
    2. Summarize key facts about wage and salary, paid time-off benefits, and protection programs for North America (Including Canada and Mexico), South America (Brazil), Europe (Germany), Asia (India and China).
  13. Explore the challenges facing compensation practices in the current business environment.
    1. Explain the issues associated with a possible increase to the federal minimum wage rate and strengthening overtime pay protections.
    2. Discuss the issue of rising wages in China.
    3. Describe the issue of underemployment and the compensation-productivity gap.
    4. Explain the influence of changing workforce demographics on employee benefits practice. 



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