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COURSE OBJECTIVE

COURSE OBJECTIVE. DEVELOP AN UNDERSTANDING OF CONCEPTS PRINCIPLES PROCEDURES PROCESSES PROGRAMS AS THEY RELATE TO THE DESIGN AND ADMINISTRATION OF AN EFFECTIVE COMPENSATION SYSTEM. Teaching Assistant: Amy Chiu Pager No. 713-620-1696

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COURSE OBJECTIVE

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  1. COURSE OBJECTIVE • DEVELOP AN UNDERSTANDING OF • CONCEPTS • PRINCIPLES • PROCEDURES • PROCESSES • PROGRAMS AS THEYRELATE TO THE DESIGN AND ADMINISTRATION OF AN EFFECTIVE COMPENSATION SYSTEM

  2. Teaching Assistant: Amy Chiu Pager No. 713-620-1696 camy@bayou.uh.edu

  3. COURSE OVERVIEW The Text Assignment for this Course is: "COMPENSATION MANAGEMENT"7th edition BY R. HENDERSON And it will be augmented by an “Exercise Book” "COMPENSATION MANAGEMENT”7th edition By R. HENDERSON

  4. Principle Areas Of Study Macro View (Chapter 1 - 5) • Provides a broad view of compensation management and identifies some of the major factors that influence compensation opportunities.

  5. Principle Areas Of Study Micro View (Chapter 6 - 12) • Contains the "nuts and bolts" or detailed analysis of compensation in organizations and deals with how job requirements are identified, defined, and valued.

  6. Principle Areas Of Study Micro - Macro View (Chapters 13 - 17) • Combines the micro - macro analysis by explaining how a base pay program is expanded into a total compensation system that includes various short and long-term incentives.

  7. Seven Classes Of Society In The US CLASS ANNUAL INCOME $ (000) % POPULATION UPPER RICH > $1,000 < 0.5 OF 1 WEALTHY 250, TO 1,000 < 2.0 MIDDLE UPPER 85 TO 250 6 MIDDLE 45 TO 85 25 LOWER 25 TO 45 37 LOWER WK POOR 15 TO 25 17 POVERTY TO 15 13 * ANNUAL INCOME IS FOR A FAMILY OF FOUR

  8. Work Force Demographics (JAN 1996) Population Of The US 262.8 Non-institutionalized - 16 Yrs And Up 198.6 Civilian Employment 132.3 Unemployed Persons 7.4 Labor Force In Non-ag Industries 121.5 Full-time Employees 102.1 Part-time Employees 22.9 Employed Husbands 42.0 Employed Wife 32.0 Union Members 16.4 Employed Mgrs And Professionals 35.6

  9. Reward System • Focuses worker attention on the specific behaviors the organization considers necessary to achieve it desired objectives and goals. • Includes anything that an employee may value and desire and that the employer is able and willing to offer in exchange for employee contributions.

  10. Reward System Components • Compensation System • Monetary Claims • In-Kind Claims • Non-Compensation System • All Other Rewards

  11. Compensation System Components Monetary Claims • Wages and salaries paid in the form of money, or in a form that is quickly and easily transferable to money at the discretion of the employee.

  12. Compensation System Components In-Kind Claims • Goods and services made available and paid for either totally or in part by the employer. The value of any in-kind payment depends directly on the employee's perception of its worth.

  13. Pay For Work Performed Base Pay Premiums Short Term Bonuses Pay For Time Not Worked Vacations Holidays Funeral Leave Jury Duty The Total Compensation Package An Eight Dimensional Classification Scheme

  14. Loss-of-job Income Continuance Unemployment Compensation Severance Pay Supplemental Unemployment Disability Income Continuation Social Security Workers Compensation Sick Leave Disability Pay Plans The Total Compensation Package

  15. Deferred Income Social Security Pension Plans Savings Plans 401-k Plans Supplemental Retirement Income Spouse (Family) Income Continuation Social Security Life Insurance Pension Plans Workers Compensation The Total Compensation Package

  16. Health, Accident, And Liability Protection Medical Insurance Dental Insurance Workers Compensation Income Equivalent Payments (Perks) Company Car Subsidized Food Service Child Care Services Legal Services The Total Compensation Package

  17. Non-Compensation System Dimensions • Enhances dignity and satisfaction from work performed. • Enhances physiological health, intellectual growth, and emotional maturity. • Promotes constructive social relationships with co-workers. • Designs jobs that require adequate attention and effort.

  18. Non-Compensation System Dimensions • Allocates sufficient resources to perform work assignments. • Grants sufficient control over the job to meet personal demands. • Offers supportive leadership and management.

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