Job Design, Compensation and Benefits

Name: Job Design, Compensation and Benefits
Rating: 4.1 (178 reviews)

Created byThe University of the Commonwealth Caribbean -

Last updated 2/2020

English

What you'll learn

To list the basic elements of a job analysis program
To identify the main methods of job analysis
To apply the main data collection techniques used in a job analysis
To outline the main elements of a job description and specification
To discuss the uses of job descriptions
To explain the role of job analysis and job evaluation in developing an internal pay structure
To discuss the strategic issues surrounding monetary compensation

Course content

4 sections • 18 lectures • 2h 13m total length

Course Overview2:50
Explore how job design shapes compensation and benefits, and learn to assess equity and competitiveness while designing, implementing, managing, and evaluating total compensation aligned with internal and external environments.
Unit 1 Overview2:18
Explore the connection between pay and work and build a foundation for job analysis, design, and compensation management across environments, including pay structures, benefit programs, and pay equity concepts.
Unit 1 Module 1: The Concept of Compensation8:10
Explore the concept of compensation as a complete reward system, including salary, benefits, and recognition, and how a strategic mix aligns with organizational goals.
Unit 1 Module 2: Equal Pay vs. Pay Equity8:36
Explains equal pay for equal work and the difference between equity and equality in compensation, clarifying that pay equity aims for fair income distribution.
Unit 1 Module 3: Components of Compensation7:33
Explore the components of compensation—base pay, performance pay, and indirect pay—and their advantages, disadvantages, and design implications for a strategic compensation strategy.

Unit 2 Overview2:48
Explore equal pay for equal work, examine market worth and benchmarking, and develop fair compensation plans through job evaluation, pay structures, and benefits across internal and external environments.
Unit 2 Module 1: Determining Market Worth10:03
Learn how to determine market worth to set competitive compensation by analyzing supply and demand, cost of living, inflation, and job conditions, using surveys and data sources.
Unit 2 Module 2: Benchmarking6:10
Learn how to benchmark key roles against the market to design a compensation plan, comparing base pay, indirect pay, and performance pay with market data from salaries, education, and experience.

Unit 3 Overview2:57
Explore compensation components, including base pay, premiums, and incentives, to build a competitive, aligned plan. Understand pension benefits, perks, and market and legal considerations to ensure fair, affordable design.
Unit 3 Module 1: Base Pay versus Premiums6:22
Balance base pay and premiums by weighing fixed salary against performance bonuses, considering ROI, retention, market pricing, pay equity, and total compensation.
Unit 3 Module 1: Base Pay versus Premiums Cont'd13:05
Explore how base pay drives total compensation, and why negotiating salary matters for long-term earnings. Compare base salary, bonuses, commissions, and the employer and employee perspectives.
Unit 3 Module 2: Incentives by Job family7:04
Learn how companies design incentives by job family, including merit pay, stock ownership, profit sharing, and team or sales-based plans, with practical pros and cons.
Unit 3 Module 3: Incentive Plan Design11:15
Design and evaluate incentive plans, including merit pay and group incentives, to motivate performance, ensure equity, set group standards, and align rewards with culture and behavior.

Unit 4 Overview2:33
Examine job evaluation and total compensation to align pay with market worth and equity. Learn to design and evaluate compensation plans using point-factor methods and ensure current alignment.
Unit 4 Module 1: Principles of Job Evaluation9:07
Explore the principles of job evaluation, including market pricing, pay policy lines, and the correlation concept, and examine how base pay is set relative to job evaluation points.
Unit 4 Module 2: Methods of Job Evaluation7:35
Master the point factor method for job evaluation, identifying five steps and key factors. Define degrees, assign weights, apply to jobs, and test reliability and validity.
Unit 4 Module 3: Compensation Plan Design12:51
Explore how pay grades and pay ranges shape compensation design, covering range spread, just noticeable difference, integrated differentials, merit pay, and moving through the pay grade by performance.
Unit 4 Module 4: Tying it all together12:01
Ties together compensation design by balancing base pay, incentives, and indirect pay, aligns job evaluation, pay bands, and lead/lag/match market strategy, while ensuring equity, affordability, legality, and attraction.

Requirements

None

Description

In many organizations, a variety of tasks is often assigned to an individual on a somewhat arbitrary basis and that becomes a “job”. This often random assignment of tasks can create many inefficiencies which result in low employee morale and low productivity. There is however a systematic and rational method of creating jobs so that the desired efficiencies are created. This process involves job analysis and job design. This course therefore seeks to emphasize the importance of analyzing the processes which forms a single task as well as ways and means to design tasks and jobs which will motivate the employee.

Strictly defined, compensation refers to the financial returns and tangible benefits which employees receive as part of the employment relationship. Perceptions of compensation vary however for the major stake-holders and an understanding of the contrasting perspectives are also critical to the effective management of the system. The potential for using the compensation system to influence employee’s attitudes and behavior needs to be recognized as a vital source for achieving a competitive advantage.

GENERAL OBJECTIVES

To give students a solid foundation in performing job analyses and job designs
To provide students with the foundation to recommend and implement compensation plans for employees of various levels in the organization.

COURSE LEARNING OUTCOMES

On successful completion of this course students should be able to:

List the basic elements of a job analysis program
Identify the main methods in job analysis
Apply the main data collection techniques used in a job analyses
Outline the main elements of a job description and job specification
Discuss the uses of job descriptions
Cite the legal requirements of a job description
Explain the concept of job specialization/enlargement/rotation/enrichment
Discuss how a job design affects employee motivation and ability
Cite various methods of designing motivating jobs
Explain the role of ergonomics in job design
Discuss the strategic issues surrounding monetary compensation
Outline how to develop an internal pay structure
Explain the role of job analysis and job evaluation in developing an internal pay structure
Outline and discuss the factors influencing external competitiveness
Design a basic salary survey
Conduct a basic salary survey
Conduct a basic analysis of salary survey results
Suggest how the analyzed salary survey results can be used
Describe how to combine the internal wage structure and external wage information to arrive at pay ranges
Discuss the connection between pay and motivation

UPDATE: THERE IS NO ASSIGNMENT ATTACHED TO THIS COURSE.

Who this course is for:

Students who want to learn how to design tasks and jobs which will motivate the employee.
Students who want to learn about compensation and benefits.
Students who want to learn the concept of job specialization/enlargement/rotation/enrichment

Job Design, Compensation and Benefits

What you'll learn

Explore related topics

Course content

Introduction5 lectures • 29min

Unit 2: The Concept of Equal Pay for Equal Work3 lectures • 19min

Unit 3 Compensation Components5 lectures • 41min

Unit 4 Overview: Job Evaluation & Total Compensation5 lectures • 44min

Requirements

Description

Who this course is for: