Ursuline College Accelerated Program
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UCAP
BU 335: Compensation Revised 9/06 by T. Cafarelli Course Prerequisites:
Must have completed a minimum of 15 credit hours in Business courses to include Accounting, Organizational Behavior, and Human Resources Management
Course Description:
Compensation implies an exchange of value between two parties. However, its meaning may differ or vary depending upon a particular company or country. Different societies, cultures, geographics, industries, unions, administrations and stockholders all bring different perceptions and expectations to the table regarding this subject.
Today, more and more organizations and businesses are taking a greater interest in different compensation philosophies and practices. Economic, social and political pressures are affecting how management examines and re-assesses how employees are compensated. This course will focus on the different concepts, philosophies, models and practices of compensation administration through the examination of pay structures and reward systems recognizing employees’ efforts and contributions to the success of their organizations. Students will be introduced to the major most common models utilized by business firms for the administration and delivery of compensation programs.
Course topics will include: strategic planning, establishing both internal and external equity, methods/tools of job analysis, tools/measures of performance appraisal, designing pay structures, different philosophies of compensation, benefits and rewards/incentives.
STUDENTS WITH DISABILITIES:
Students with documented disabilities including those with learning disabilities may be eligible to receive reasonable accommodations for this course. Therefore, please contact Eileen Kohut, Director of the Student Learning and Resource Center, at 440-646-8123, as soon as possible, to discuss your situation and individual needs. Timely communication
will allow us to work together to formulate a plan in making arrangements for receiving reasonable accommodations.
Course Objectives:
1. Understand the differences between direct and indirect compensation and the
different forms of each
2. Learn of the different philosophies and strategies employed by different firms 3. Learn about the different types of pay models/structures and analyze a specific
pay model/structure
4. Learn about the different methods and measures used for conducting a job
analysis
5. Learn about the different types of performance appraisal tools/methods used to assess employee performance
6. Learn about the major components of a job description and write a formal job description that includes and addresses all legal requirements
7. Understand the components that entail the design and implementation of a
compensation survey
8. Recognize the different types of benefits that may be provided within a compensation program and the importance of such benefits
Course Materials:
Text: Compensation Management in a Knowledge-Based World, Henderson, 10th
Edit., Pearson/Prentice Hall, 2006
Supplemental Material:
Student Exercise Book (accompanies the text)
The use of the Internet may also be required for certain homework assignments. During this class, students may be asked to use the Internet to gain access to various materials and information regarding other companies/industries models and philosophies of compensation for in-class group discussions.
Class Preparation and Assignments
The accelerated time frame for the coverage and presentation of course content mandates that students take responsibility for being prepared for each class session. Therefore, students must read and complete all homework assignments before each class session in order to be well prepared to lead both in-class discussions and group exercises relating to the assigned class materials. In addition, students are expected to spend a minimum of 15 hours outside of class in preparation for class sessions to include the completion of all course text assignments and papers.
Grading Criteria
Grades will be weighted as follows:
Text Chapter Review Questions 30%
Final Paper Analysis of a Compensation Program (See Below) 25%
Oral In-Class Power Point Presentation (20-25 minutes in length) 5%
4 Internet Papers (each paper is 5%) 20%
In-Class Participation Exercises 20%
Total 100%
Final Paper Assignment in lieu of a Final Examination
An Analysis of Your Company’s/Employer’s Compensation Program
Required Paper Components:
1. Philosophy of compensation
2. Strategies/Goals/Objectives
3. Type/s of pay model/s or structure/s and different pay tiers utilized
4. Method of market pricing used in establishing job worth
5. Types of benefits and services provided to include:
a. % benefits consume of total labor costs b. Security and health issues/benefits
c. Cost containment strategies employed concerning health insurance d. Describe the over-all costing method utilized by your employer e. Which benefits do you believe to be most important and why for the
retention of employees
6. Rewards system – incentives and bonuses
7. Other compensation issues pertinent to the particular industry your employer is associated with to include, if applicable, seniority, COLA, geographic differentials and concerning a union contract
8. Your recommendations for improving the compensation program
Ursuline College Grading Policy (Per College Catalog)
A = 93 – 100% B+ = 90 – 92% B = 86 – 89% C+ = 83 – 85% C = 76 – 82% D+ = 73 – 75% D = 70 – 72% F = Below 70%
UCAP Attendance Policy RegardingAbsences:
UCAP attendance policy mandates all students attend all class sessions. If one absence is unavoidable due to work/job commitments, arrangements must be made in advance with the facilitator to complete an additional paper in order to make up the one absence. If a student is absent from one class session due to personal illness arrangements must be made with the facilitator to complete make-up work.
UCAP attendance policy dictates that the completion of make-up work for one absence is solely at the discretion of the facilitator and may constitute an automatic one letter grade deduction depending on the decision of the facilitator.
However, please note UCAP attendance policy mandates the absence of 2 or more class sessions dictates either the student must withdraw from the course or be issued a course grade of “F.”
Late Assignments:
All late assignments will receive an automatic one letter grade deduction. No assignment will be accepted more than 48 hours after the original due date. No excuses due to either employment or personal illness will be accepted but it is understood there may be
exceptions taken into account, subject to the facilitator’s discretion.
If a student is unable to attend one class session for any reason she/he is expected to submit all homework assignments due for a particular class session through e-mail.
Assignments to be completed prior to Session #1:
Read Chapter 1: Compensation in a Knowledge-Based Global Economy
Chapter 2: The Reward System: Comp. and Non-Compensation Dimensions Chapter 3: The World of Pay and Compensation
Chapter 5: Legislation and Compensation Complete the following text review questions:
Chapter 1: 1 and 4
Chapter 2: 1, 4 and 5
Chapter 3: 2,3,6,7 and 8
Chapter 5: 2, 4, 6 and 7
Obtain an article from any HR web site pertaining to a particular organization’s rewards system as part of the compensation program and complete a 1 page report presenting your thoughts and beliefs concerning the strengths and weaknesses of the rewards program to be discussed in class.
Class Session #1
1. Facilitator and student introductions
2. Course module is reviewed for clarification of course requirements, learning objectives, course content and expectations
3. Discussion of text readings
4. Small and large group discussion of text review questions
5. Group discussions pertaining to web articles
6. Group exercise on rewards/incentives – motivating or not?
7. Large group discussion pertaining to legislation – legal issues and group exercise
To Be Completed Prior to Class Session #2:
Read Chapter 6: Job Analysis Chapter 7 Job Description Chapter 8 Job Evaluation
Chapter 9 Point Factor Method of Job Evaluation Complete the following text review questions:
Chapter 6: 1 and 2
Chapter 7: 4 and 5
Chapter 8 1, 2, 5,6,8,9 and 10
Chapter 9: 3, 4, 5,6,8,9 and 10
Complete a 1 page report on your company’s job analysis and job evaluation processes – methods/tools/measures used and be prepared to discuss in class. However, if your employer does not utilize any formal job analysis and job evaluation methodology –tools or measures then obtain an article from any HR web site regarding the topic of job analysis and evaluation and complete a 1 page report on the information obtained. Bring a copy of your job description and be prepared to analyze, revise and evaluate utilizing both the Hay and FES job evaluation methods in-class
Class Session #2:
1. Discussion of text chapter readings
2. Small and large group discussion of text chapter review questions
3. Small group discussions of your company’s job analysis and evaluation
processes and/or web article papers
4. Small group job analysis exercise
5. As an individual and then in small groups will analyze your job descriptions using the Hay and FES Methods of job evaluation to determine a FES total point score and Hay scoring profile of your job.
To Be Completed Prior to Class Session #3:
Read Chapter 10: Surveying Market Pay and Compensation Practices
Chapter 11: Designing a Base Pay Structure
Chapter 12: Team-Based Pay
Complete the following text chapter review questions: Chapter 10: 1,2,3,4, and 5
Chapter 11: 1, 2 and 3 Chapter 12: 5, 6, 7, and 8
Complete and turn in a detailed outline of your final paper on your company’s
compensation program to receive feedback from the facilitator during class session #3. Obtain an article from any HR web site and complete a 1 page report covering the topic of how a particular company/organization is utilizing teams and how team effort can increase organizational profitability.
Class Session #3
1. Discussion of text readings
2. Small and large group discussion of text chapter review questions
3. Small and large group discussions on web article papers
4. Discussion – review and feedback from facilitator concerning the final paper outlines
5. Group exercise on designing a pay structure/model
To Be Completed Prior to Class Session #4
Read Chapter 13: Measuring and Paying For Performance Chapter 14: Short-Term Incentives
Chapter 15: Long-Term Incentives
Complete the following text chapter review questions: Chapter 14: 2, 3, 4 and 6
Chapter 15: 2, 3,5,6,7 and 8
Complete a 1 page paper and be prepared to discuss in class your company’s Performance Appraisal System to include:
a. Philosophy of performance appraisal
b. Who performs the appraisal
c. When is the appraisal done in terms of frequency
d. Methods/tools/measures/forms used
e. Your views pertaining to the performance appraisal process in terms of its strengths and weaknesses
f. Your recommendations as to how to improve the process
If your employer does not utilize any formal performance appraisal method/s, tools or measures - then obtain an article from any HR web site concerning the topic of
performance appraisal and complete a 1 page paper on the information presented in the article to be discussed in class.
Class Session #4
1. Discussion of text readings
2. Small and large group discussion of text chapter review questions
3. Small and large group discussions on performance appraisal papers
To Be Completed Prior to Class Session #5
Read Chapter 17: Benefits and Services
Chapter 18: Pay Delivery Administration
Complete final paper: An Analysis of Your Company/Organization’s Compensation Program
Complete Power Point Slide Presentation to be 20-25 minutes in length
Class Session #5
1. Oral Power Point presentations of final papers
2. Discussion of text readings (time permitting)
3. Small group exercise on benefits administration (time permitting)
4. Course wrap-up and closure
