||This course covers basic knowledge and understanding of employee compensation and related federal laws.
- Recognize the different elements and terminology of compensation including direct and indirect compensation.
- Review the different forms of pay.
- Explain the motivating value of compensation.
- Identify the elements of the pay model, including the objectives of efficiency, fairness and compliance.
- Examine the importance of job analysis, job descriptions/specifications, and job evaluation in administering a compensation plan.
- Demonstrate the job analysis process.
- Compare different job evaluation methods.
- Explain linking compensation to organizational objectives.
- Identify the role of performance appraisals in compensation decisions.
- Explain the government and legal issues in compensation.
- Critique the decisions involved in designing a competitive pay policy including pay levels, mix, and structure.
|MnTC goal areas:
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