Course Code: HRM 5004
Academic Year: 2024-2025
This course provides an overview of the characteristics, design features, and strategic role of employee compensation and benefits within the framework of an employer's total compensation program. This course covers theoretical issues, processes, and practical applications involved in developing and administering a compensation system to attract, retain, and motivate the required workforce. It provides an understanding of the objectives, policies, techniques, and standards necessary to meet the strategic goals of organizations and individual employee needs. Specific topics include job analysis, job evaluation, labour market surveys, job pricing, and salary administration functions, benefit planning guidelines, principles of group insurance, flexible versus conventional benefits, government benefits integration, cost containment techniques, and the features of various options for meeting employer and employee compensation objectives.