This course comes under the broad area of financial management and deals with rewards for the supply of labor. It addresses the ways in which both tangible and intangible forms of compensation may be used to motivate and reward employee performance. The course also deals with job analysis, job description and job evaluation on the basis of compensable factors as well as designing an equitable pay structure. Additionally, compensation management analyzes the influence of unions and government in determining the compensation of the labor force. It deals with the compensation of both hourly workers and managerial employees.
Upon successful completion of the course students will be able to: