Badm 321- Strategic Compensation Winter 2014

BADM 321 A
Course Outline
Selected Topics in Management - Strategic Compensation
Winter 2014
INSTRUCTOR
Office
Phone
E-mail
Eldon Fillingham
423
403-342-3451
[email protected]
CLASS TIMES
Section E
Tuesday and Thursday
11:30 AM – 12:50 PM
Room 406
Millennium Centre
OFFICE HOURS
Monday and Wednesday
Tuesday and Thursday
Friday (most of the day)
3 PM - 4 PM
3 PM – 4 PM
900 AM -10 AM
CREDIT HOURS
45.0 Hours
or by appointment
ACADEMIC CALENDAR ENTRY
Provides a comprehensive framework for the development of compensation strategy and
compensation systems by organizations. Topics include job evaluation, compensation surveys,
performance pay, stock and profit sharing plans, and employee benefits plans.
Note: Not eligible for challenge.
PREREQUISITES
This is a first year introductory business course with no prerequisites.
COURSE TOPICS:
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Strategy, Rewards, and Behaviour
Formulating Reward and Compensation Strategy
Determining Compensation Values
Designing Performance Pay and Indirect Pay Plans
Implementing, Managing, Evaluating, and Adapting the Compensation System.
BUS 303 – Course Outline
Red Deer College
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LEARNING ACTIVITIES:
Teaching in this course is comprised of lectures, group discussions and assignments.. Students can
expect to engage in small group work at times during all components of the course.
TRANSFER AGREEMENTS
Formal transfer agreements between Red Deer College and other Alberta universities and colleges are
found at www.acat.gov.ab.ca.
LEARNING OUTCOMES
Upon successfully completing this course, you should be able to…
• Describe the purpose of a compensation system.
• Explain why a compensation system must be viewed in the context of the total reward system.
• Identify and explain the key criteria for evaluating the success of a compensation system.
• Explain why the same compensation system that is a success in one firm can be a failure in
another.
• Explain how the strategic framework for compensation can be used as a tool for designing
effective reward and compensation systems.
• Describe the five main determinants of managerial strategy, and explain how they can be used
to select the most appropriate managerial strategy.
• Identify the three main types of reward problems that can afflict organizations.
• Define the three key employee behaviors desired by employers.
• Define base pay and discuss its advantages, disadvantages, and applicability.
• Define performance pay and discuss its advantages, disadvantages and applicability.
• Define indirect pay and discuss its advantages, disadvantages, and applicability.
• Identify and differentiate between the advantages, disadvantages, and applicability of the
three main methods of establishing base pay Market pricing, job evaluation, pay-forknowledge).
• Define and discuss the applicability of the main types of compensation: individual
performance pay; group performance pay; and organization performance pay.
• Describe the constraints that limit the design of a compensation strategy.
• Explain the compensation strategy formulation process and describe each step.
• Describe the steps in designing a point system of job evaluation.
• Identify the possible pitfalls in designing appoint system of job evaluation.
• Discuss the key considerations in understanding labour markets.
• Identify and explain the four main reasons for conducting performance appraisals.
• Explain why performance appraisal systems fail to accurately measure employee performance.
• Identify and describe the different methods for appraising performance, along with their
strengths and weaknesses.
• Identify the main types of performance pay plans and the key issues in their design.
• Identify the six major categories of benefits and the specific types of benefits included in each
category.
• Discuss the advantages and disadvantages of fixed versus flexible benefit plans and the
circumstances in which each would be most appropriate.
• Identify the key issues in preparing to implement a compensation system.
• Describe the steps necessary for implementing a compensation system.
• Explain how to evaluate the effectiveness of a compensation system.
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Red Deer College
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Identify circumstances that may necessitate changes to the compensation system.
Discuss the issues to be considered in adapting the compensation system.
REQUIRED TEXTBOOKS AND EQUIPMENT
Strategic Compensation in Canada (Fifth Edition)
By Richard J. Long
Nelson 2014.
RECOMMENDED READING AND RESOURCES
Nelson Education Human Resources CourseMate for Strategic Compensation in Canada can help students learn with interactive learning and exam preparation tools (such as quizzes, flashcards and games) that integrate with the printed textbook. MATERIALS AND SPECIAL FEES
Not applicable
COURSE REQUIREMENTS
1) Attendance
Regular attendance is expected. Students who miss a class are responsible for the material they
have missed. “Attendance” means physical presence in the classroom on a regular (very, very close
to 100%) basis. Lack of attendance may impact the student’s ability to successfully complete the
course.
2) Class Participation
• Students are expected to professionally participate in class discussions throughout the course.
This includes:
1. Prepare for the class by reading the chapter or other readings before class.
2. Quickly review what was covered in the class soon after its conclusion and
then review it again just before the next class starts.
3. Avoid side conversations while another student or the instructor has the
floor.
4. Avoid glancing at your cell phone, allowing your cell phone to go off,
having your cell phone on the desk. Please turn your cell phone off and
put it away.
5. Not interrupting another student or the instructor. Please wait for your
turn.
6. Not monopolizing class discussion and refusing to defer to the instructor
or listen to others.
7. Being on time. If you are not on time enter the room as quietly as possible
and with as little disruption to others as possible. Come to the class if you
are running a little bit late.
8. Leaving early. Don’t do it. If you do have to leave early do it with as little
disruption as possible. Let the instructor know if you know you will have to
leave early and position yourself in the classroom to leave with as little
disruption to other’s learning as possible.
9. Do not yell, scream, swear, bully or engage in other intimidating behavior.
You will be asked to leave the class and the course if you insist on this
behavior.
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Red Deer College
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10. Logical argument is encouraged. Attempts at logical argument are also
encouraged.
11. Asking questions is encouraged. If you are unsure please ask as this helps
you learn and grow and tells me if I need to explain something better or
differently. If you are reluctant to ask a question in class ask me outside of
class.
12. It is okay to sip a beverage in class or have a quiet snack in class so long as
you pick up after yourself and don’t leave a mess for others to clean up.
13. Don’t do assignments or readings from another class in this class.
14. Be attentive. In addition to the other items on this list please don’t clean
out your back pack or purse or sleep in class.
3) General
• Students who are encountering difficulty with the course are urged to contact the instructor at
once.
• Students should ensure that they are familiar with Red Deer College’s Student and Academic
Standard Practices and Policies as well as the key dates in the Academic Schedule.
BLACKBOARD
Supplementary materials are available on the Blackboard site for this course. It is important to check
this site frequently for updates.
ASSESSMENT OF STUDENT PERFORMANCE
The final grade in this course will be computed based on the following elements. At all times the Red
Deer College final examinations policy will be adhered to.
1) Exam I 25% – one third of the way through the course.
• Consisting of primarily short answer and matching questions.
2) Exam II 25% – approximately 2/3 of the way through the course.
• Consisting of primarily short answer and matching questions.
3) Exam III 25% – at the end of the course.
• Consisting primarily of short answer and matching questions.
4) Two assignments testing knowledge of compensation strategy theory and practice 25%
(12% and 13% respectively).
GRADING SYSTEM
Final grades in the course will be assigned based on the Alberta Education Grade Comparison letter
grading system as described in the Red Deer College Calendar on page nine.
1) Homework and Assignments
• Students are expected to have read in advance the material to be taken up in class, and to
have completed all assigned homework.
• Students are expected to satisfactorily complete all assignments and examinations on time.
An unexcused failure to submit an assignment will result in a mark of zero.
• Late assignments will not be accepted.
2) Examinations
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Red Deer College
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Any student missing an exam without having made arrangements with the instructor prior to
the exam will receive a grade of zero for that exam.
MIDTERM FEEDBACK
Midterm feedback for this course will be available from the instructor following marking of the
midterm examination. After reviewing their marks to this point, students should make an
appointment with the instructor to discuss their progress and concerns if the cumulative total to this
point is less than 20 marks. The instructor is also available prior to this in designated office hours if
students have any concerns. Please see “Important Dates” below.
RDC FINAL EXAMINATION POLICY
The RDC Final Examination Policy will be followed with respect to Final Examinations. Please review
this document to ensure you understand the contents and implications of the policy at
http://www.rdc.ab.ca/about_rdc/policies_and_publications/policies/documents/final_examinations_
policy.pdf
ACADEMIC MISCONDUCT
Please become familiar with what constitutes academic misconduct, as well as the
consequences. Plagiarism involves submitting work in a course as if it were the student’s own work.
Plagiarism may involve the act of submitting work in which some or all of the phrasing, ideas, or line of
reasoning are alleged to be the submitter’s own but in fact were created by someone else. The
complete policies are available on the RDC Policies web site: Appeals: Formal Policy, Appeals: Informal
Resolution Policy and Student Misconduct: Academic and Non-Academic Policy,
http://www.rdc.ab.ca/about_rdc/policies_and_publications/policies/Pages/academic_policy.aspx.
CHANGES TO THE COURSE OUTLINE
Changes to the course outline will be made with the consent of the course instructor and students.
Changes will be reviewed by the Department Chairperson for consistency with College policies.
IMPORTANT DATES
January 13
February 17
February 18 to 21
March 3
March 4
March 14
March 19
April 9
April 14 to 21
April 18
April 28
Last day to register or add/drop Winter Term courses.
Family Day – College closed.
Mid-term Break
Mid-term feedback date. Instructors give students formal feedback on their
academic standing in Winter Term courses.
Emergency Response Day
Final examination schedule posted.
Last day to withdraw from Winter Term courses and receive a WD.
Last day of classes for Full Year and Winter Term courses
Students are expected to be available during this time period for the
writing of final exams.
Good Friday – College closed.
Final grades available
The Tentative Timetable for the course is “tentative”, but it is critical for inclusion as it is used extensively by
our transfer partners in assessing the transferability of a course. In addition course timelines are required in
course outlines as per RDC’s Course Outline policy.
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Red Deer College
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Date
Week 1 January 6-10
Week 2 January 13-17
Week 3 January 20-24
Week 4 February 3-7
Week 5 February 10-14
TENTATIVE TIMETABLE
Outline of Topics
Activities/Readings
Introduction
Review of outline
Roadmap to Effective
Chapter 1
Compensation
A Strategic Framework for
Chapter 2
Compensation
A Behavioural Framework
Chapter 3
For Compensation
Components of
Chapter 4
Compensation Strategy
Performance Pay Choices
Chapter 5
Formulating the Reward and Chapter 6
Compensation Strategy
EXAM 25%
EXAM CHAPTER 1-6
Evaluating Jobs: The Job
Evaluation Process
Evaluating Jobs: The Point
System Method of Job
Evaluation
Mid Term Week
Chapter 7
Chapter 8
Mid Term Week
Week 6 February 17-21
Week 7 February 24-28
Evaluating the Market,
Chapter 9
Week 8 March 3 -7
Week 9 March 10 -17
Evaluating Individuals
EXAM 25%
Chapter 10
EXAM CHAPTER 7-10
Week 10 March 17 21
Designing Performance Pay
Plans
Assignment Due
DESIGNING INDIRECT PAY PLANS
Activating and Maintaining
an Effective Compensation
System
Review
Final Exam 25%
Chapter 11, ,
Week 11 March 24-28
Week 12 March 31 – April 4
22
Week 13 April 7 - 11
Week 14 April 14 -21
CHAPTER 12
Chapter 13
E XAM C HAPTER 11-13
This course may be eligible for Prior Learning Assessment. Students should refer to the RDC
Course Calendar for a list of excluded courses.
A plagiarism detection tool is used in this course.
Classroom Learning Resources may be available to students in alternative formats.
Students should be aware that Personal Counselling, Career, Learning and Disability Services
are provided by RDC. Inquire about locations at Information Desk. It is the student’s
responsibility to discuss their specific learning needs with the appropriate service provider.
It is the student’s responsibility to be familiar with the information contained in the Course
Outline and to clarify any areas of concern with the instructor.
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Red Deer College
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Students should refer to the Appeals: Formal Policy, Appeals: Informal Resolution Policy and
Student Misconduct: Academic and Non-Academic Policy should questions or concerns about
the Course Outline not be resolved directly with the instructor.
Chairperson
Date
BUS 303 – Course Outline
Red Deer College
January 2, 2014
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