HADM 4412: Compensation in Service Firms
Elective - 3 credit hours - Letter grade only
Offered Spring only
Prerequisite(s): Introductory human resource course such as HADM 2211(formerly HADM 211) or ILRHR 2600
Faculty teaching this course in Spring 10:
This course is designed to give students a practical understanding of the methods and implications of compensation, including hands-on experience designing compensation systems for firms in the service industry. (The course is designed to provide material that is distinct from that provided in ILRHR 6690 Managing Compensation.) Students will learn how to design a pay plan, including base pay and pay-for-performance plans. By the completion of the course, participants will know how to design pay ranges and grades for organizations where most jobs can be benchmarked with market data. The course will also devote considerable time to the design of incentive plans, including merit pay, bonuses, gainsharing, profit sharing, piece-rate, tipping, and commission systems. The course is designed to be useful for those desiring employment as an entry-level compensation specialist, a human resources generalist, those starting and running their own business, or those who want a better understanding of how human resource practices are actually managed. For students with a particular interest in compensation, the course can be taken in addition to the ILRHR 6690 course; for those interested in compensation in the services industry, this course can be taken as a standalone course.