ILRHR 6690 - Managing Compensation

Fall, Spring. 4 credits.

Prerequisite: ILRHR 5600 or equivalent and statistics course. Enrollment limted to: graduate students or permission of the instructor. Enrollment limited to: 30 students.

E. Belogolovsky, K. Hallock.

Helps students gain an understanding of how to make decisions about compensation. The strong focus is on applications and includes some discussion of recent theory and research. By the end of the course, students should be able to design their own compensation system from scratch. Considers how compensation fits with an overall HR strategy, the internal focus on the firm (including alignment, job analysis, and job evaluation), making pay competitive with the outside market (including designing pay levels, types of pay, and pay structures), considering individual contributions (by examining performance appraisals, pay-for-performance and stock options), benefits (such as pensions, child care, and health care), management (including government regulation and managing budgets), and dealing with international issues in setting pay plans. A substantial section focuses on executive compensation and also examines how a consultant might estimate the damages to an employee in the case of wrongful termination.

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