CMS 2

1) Discuss various stakeholder views on compensation. 2) Detail the various components comprising pay. 3) Explain the pay model framework to depcit compensation concepts. 4) Describe the strategic choices involving compensation. 5) Provide the steps in developing a total compensation strategy.

1) Understand the considerations in establishing a pay structure's internal alignment. 2) Delineate the factors, both external and internal, that affect internal pay structures. 3) Discuss various strategic choices in designing internal pay structures 4) Summarize the evidence from research studies concerning the effectiveness and motivational impacts of various pay structures 5) Describe the consequences that accompany strategic choices concerning pay approaches

1. Define and explain the rationale for job analysis. 2. Distinguish between job-based and person-based internal structures. 3. Explain the procedures that characterize the job analysis process. 4. Detail the types of information collected during a job anaylsis. 5. Discuss the importatnce of job analysis in connection with the "essential elements" of a job under the Americans with Disabilities Act. 6. Enumerate variations in job analysis methods.

1. Understand the role that job evaluation plays in job-based structures. 2. Explain different criteria used in job evaluation process. 3. Summarize the most commonly utilized job evaluation methods. 4. Detail the steps involved in a point method job evaluation. 5. Discuss who should be involved in the job evaluation process. 6. Describe the hierarchy of work structure that results from a job evaluation.

1. Discuss the use of a compensation strategy to gain external competive advantage. 2. Explain labor market dynamics and their effects on compensation pricing. 3. Describe labor demand theories and their implications for compensation policy. 4. Summarize how organizational factors influence pay level and mix decisions. 5. Cite considerations in defining relevant labor markets. 6. Detail probable relationships between external pay policies and attaining various compensation objectives.