Reference no: EM131055380

Part 1:

• Identify the three general components of total rewards and give examples of each.

• Explain the major laws governing employee compensation.

• Outline strategic compensation decisions.

• Understand the challenges of managing global compensation systems.

• Illustrate the steps in developing a base pay system.

• Describe how individual pay rates are set.

References
Mathis, R. L., Jackson, J. H. and Valentine, S. R. (2014). Human Resource Management, Fourteenth Edition. Stamford, CT: Cengage Learning.

Part 2:

• Define variable pay and identify three elements of successful pay-for-performance plans.

• Discuss three types of individual incentives.

• Identify key concerns that must be addressed when designing group/team variable pay plans.

• Specify why profit sharing and employee stock ownership are common organizational incentive plans.

• Explain three ways in which sales employees are typically compensated.

• Indicate the components of executive compensation and discuss criticisms of executive compensation levels.

References
Mathis, R. L., Jackson, J. H. and Valentine, S. R. (2014). Human Resource Management, Fourteenth Edition. Stamford, CT: Cengage Learning.

Part 3:

• Define a benefit and identify four strategic benefits considerations.

• Analyze the differences between employee benefits in the United States compared to those in other countries.

• Distinguish between mandated and voluntary benefits and list three examples of each.

• Discuss the trend in retirement plans and compare defined benefit and defined contribution plans.

• Explain the importance of managing the costs of health benefits and identify some methods of doing so.

• Describe the growth of financial, family-oriented and time-off benefits and their importance to many employees.

References
Mathis, R. L., Jackson, J. H. and Valentine, S. R. (2014). Human Resource Management, Fourteenth Edition. Stamford, CT: Cengage Learning.