Compensation Management

Course Code: HRM 321

Credit Hour: 3

Course Group: Specialization Courses: Human Resource Management

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Introduction: Definition, Objectives, Compensation and Organization Strategy, Pay and Social Class, Intrinsic and Extrinsic Compensation.

The Reward System: Definition, Compensation System, Compensation and Non- Compensation Dimensions.

Microeconomic Compensation Concepts: Definition of Job Analysis, Job Description, Job Evaluation, Methods, Importance of Job Analysis, Methods, Importance of Job Description and Methods, Importance of Job Evaluation.

 Surveying Market Pay & Compensation Practices: Determining the need for a Survey, Pay Survey Problems, Preparing for Pay Survey.

Measuring and Paying for Performance Plans: Definition of Pay for Performance, Specify Pay for Performance Plan, Short Term Individual Incentive Plan, Team Incentive Plans, Earnings and Risk Plan, Group Incentive Plans.

Short-Term and Long-Term Incentives: Premiums and Differentials Pay for Units Produced, Individual- based Bonuses and Awards, Organization-wide Short-Term Incentives, Tax Legislation, Designing a Long-Term Incentive and Deferred Compensation Plan.

Executive and International Compensation: Executive Compensation, Maximizing Executive Compensation Opportunities, International Compensation.

Employee Remuneration, Benefits and Services: Components of Remuneration, Factors Influencing Remuneration, Equity of Remuneration, Importance of Benefits and Services, Benefits Administration, Major Categories of Employees Benefits and Employee Services.

Pay Delivery Administration: Compensation Administration in Bangladesh, Comparative Analysis of Different Pay Scales in Bangladesh.

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Recommended Books:

Richard I. Handerson, Compensation Management in Knowledge Based World, 10th Edition, Pearson

Milkovich T. George, Newman M. Jerry, Compensation, Tata McGraw-Hill Publishing Company Ltd.