Total Compensation (HRM 0210)

Learning outcomes

Upon completion of this course, you should be able to:

• recognize the role compensation and benefit programs play in supporting an organization’s overall business strategy
• identify the various components of a total compensation system
• create a compensation strategy and program design supported by research on motivation and employee behavior
• identify strategies and techniques to design and implement total pay structures (base, indirect and performance) that support the organization’s compensation and overall business strategies and any legislated requirements
• recognize the roles that internal equity and external competitiveness play in a compensation strategy
• understand the various elements of performance pay encompassing individual, team and organizational performance
• understand the various elements of indirect pay including government and employer sponsored benefits, retirement plans, pay for time not worked and other perks and services
• assess and evaluate the effectiveness of a total compensation plan and its ability to attract, motivate and retain the right employees to achieve the organization’s business objectives