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HRP 7205   Compensation Management   Credits: 4

In this course, students will describe the work people perform, specifying the skill required to perform the work, measuring how well the work is performed, determining the relative worth of the work performed, and developing a fair method of paying of paying for the work performed as the function of the compensation administrator. The overall objective of compensation management is to pay salaries adequate to attract and retain the kinds of employees needed to run the business. Pay is based upon responsibilities, competitive levels of compensation, and performance. Certain problems may arise from: (1) the changing nature of compensation, (2) the changing nature of the labour force, (3) rising expectations of employees. When compensation consists of a number of different elements, coordination becomes a problem. From the Organizational Behaviour theory that the students now possess, the students can understand that, unless all forms of compensation are reasonably well integrated for each employee group, the reward system may be giving conflicting signals to the employees.

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