KING FAHD UNIVERSITY OF PETROLEUM & MINERALS DEPARTMENT OF MANAGEMENT & MARKETING COLEGE OF INDUSTRIAL MANAGEMENT
COURSE SYLLABUS FIRST SEMESTER 2005-2006 (052)
COURSE TITLE MGT 405 COMPENSATION & BENEFITS MANAGEMENT SECTION 01 LECTURE SCHEDULE SMW (8:00 TO 8:50 AM) LECTURE ROOM ROOM 121; BUILDING 24 INSTRUCTOR DR. RAZALI BIN MAT ZIN INSTRUCTOR’S ROOM 234; BUILDING 24 OFFICE PHONE 03-8601885 E-MAIL [email protected] OFFICE HOURS SATURDAY (11:00 AM TO 12:30 PM) MONDAY (11:00 AM TO 12.30 PM)
AND OR BY APOINTMENT (use email or phone to make appointments)
COURSE DESCRIPTION
The basic premise of this course is that compensation and benefit management system in any organization do have a profound impact on the overall performance of the employees. This course will cover the strategic choices in managing compensation and benefits. The first part will focus on the compensation model which will be the main framework for compensation decision making process. In the second part, the major compensation issues are discussed in the context of current theory, research and practice. The final part will deliberate on the influences of the government policy decisions on compensation and benefits systems and how these will affect the budgetary process of an
1 organization. COURSE OBJECTIVES
1. Explain how perceptions of compensation differ among society, stockholders’, managers and employees.
2. Discuss the difference between direct and indirect compensation and define each of the direct and indirect forms of compensation described.
3. Explain the three main objectives of a pay model.
4. Discuss the mechanics of designing various pay levels and pay structures.
5. Understand the notion of competitive advantage and how it relates to compensation.
6. Understand how the pay model integrates objectives, techniques, and strategy and the influences of government policy decisions on the compensation and benefits systems of an organization.
TEXTBOOK
Milkovich, G.T. & Newman, Jerry M. (2004). Compensation (6th Edition).McGraw- Hill: Boston.
SUPPLEMENTARY READINGS / HANDOUTS ( Will be distributed during lecture sessions)
CLASS ATTENDANCE/ CONDUCT /& PREPARATION
University regulations on attendance will be strictly followed. Attendance will be taken at each class. The regulation stipulates that any student who accumulates more than NINE (9) unexcused absences will automatically receive a grade of “DN”. Only medical related excuses (officially certified by KFUPM Student Affairs) will be accepted. No excuse will be entertained if submitted more than one week after the related absence(s). If you miss class, make arrangements to secure notes or handouts from other students. You are responsible for ALL class materials, whether you are in class or not.
2 Turn all mobile phones and pagers “OFF” during class. Treat everyone with respect. No profanity, or discriminatory or harassing behavior of any kind will be tolerated. Respect confidentiality. It is not possible to cover every eventuality. The instructor will attempt to be as fair as possible. He expects all the students to respond in an adult manner. Students are expected to take the exams and/or quizzes when scheduled. If a student miss an exam without an excused absence, he will earn a zero for that exam or quiz. NO Exceptions – Don’t even ask for a make-up exam. If a student must be absent on an exam day he must notify the instructor in person before the date and provide a documented excused absence. REMEMBER: NO ELECTRONIC DEVICES (mobile phones, dictionaries, PDAs, etc.) are allowed during EXMAS and Quizzes. Turning off is not enough. Students MUST NOT bring with them. Bringing any of those devices is considered an attempt to cheat. Acts of CHEATING AND ATTEMPTS TO CHEAT will result in a grade of “F” in the course and will be reported to University Students’ Affairs for further disciplinary action that may include dismissal from the university.
All work submitted must be a student’s own work. Students are responsible for familiarity with academic policies and regulations as set forth by the university without exception. Violation of any of these regulations and policies, in particular any form of direct or indirect plagiarism will result in failure for the entire course. It is the responsibility of the student to understand conditions that constitute a charge of plagiarism. Ignorance of plagiarism is not an excuse.
Students are expected to read and prepare class assignments prior class. Class participation is critical. The instructor recommends that students follow the steps as follows for class each day: (1) review the learning objectives for each chapter; (2) Read the chapter assigned for the day; (3) makes notes and outline the chapter as you read the chapter; (3) Write the definitions for each of the key terms and answer each chapter “Discussions Questions”.
COURSE REQUIREMENTS AND GRADING
Quizzes:
There will be TWO (2) QUIZZES during the course. The quizzes will consist of multiple choice questions and True/false items. The instructor reserves the right to include some short answer and/or essay questions depending on the number of students enrolled in the course. Exams will cover text chapters as well as material covered through class lectures/discussions, handouts, videos, class exercises/cases and simulation materials.
Exams:
There will be three (3) exams during the course comprising two (2) MAJOR EXAMS during the semester and one (1) FINAL EXAM. The exam will consist of multiple choice questions and True/false items. The instructor reserves the right to include some short answer and/or essay questions whenever applicable. Exams will cover text chapters
3 as well as material covered through class lectures/discussions, handouts, videos, class exercises/cases and simulation materials. For those who miss the quizzes/major exams/final exams with valid excuse, the make-up will be using the format of essay- type exams (or quizzes).
Homework Assignment:
There are two sets of questions (SET A AND SET B). Each set consists of 4 questions (a, b, c, and d). YOU MUST CHOOSE ONLY ONE SET of question. YOU CANNOT MIX the set of question from Set A and Set B. The submission date is stated below. Any late submission will entitle a student for a zero grade.
Grading Components:
First Quiz 5% Second Quiz 5% First Major Examination 20% Second Major Exam 20% Final Examination 30% Essay Homework Assignment 10% Attendance 5% Participation & In-Class Assignment 5% ______
TOTAL 100% ______
SCHEDULE OF CLASS ACTIVITIES
DATE LECTURE TOPIC READINGS ASSIGNMENTS FEBRUARY 11 Introduction & Course Overview *Student prepare individual Information Card for record purposes FEBRUARY 13, 15 Chapter 1: The Pay Model *Read Chapter 1 of the Text FEBRUARY 16 Chapter 2: Strategic Perspectives *Read Chapter 2 of the Text (Thursday), 18 FEBRUARY 20, 22 Chapter 3: Defining Consistency *Read Chapter 3 of the Text FEBRUARY 25 FIRST QUIZ (IN-CLASS) Revise Chapter 1 & 2 of the (SATURDAY) Text FEBUARY 27 Chapter 4: Job Analysis Read Chapter 4 of the Text Read the article “ Spreading the Yankee Way of Pay” and prepare for in class
4 discussions MARCH 1, 4, Chapter 5: Evaluating Work: Job *Read Chapter 5 of the Text Evaluation MARCH 6, 8 Chapter 6: Person-Based *Read Chapter 6 of the Text Structures MARCH 11, 13 Chapter 7: Defining *Read Chapter 7 of the Text Competitiveness MARCH 15, Chapter 8: Designing Pay Levels *Read Chapter 8 of the Text & Pay Structures MARCH 18 FIRST MAJOR EXAM Revise Chp. 3, 4, 5 (SATURDAY) VENUE: ROOM 121; BUILDING 24 TIME: 8:00 pm TO 10:00 pm MARCH 20, 22, Chapter 9: Pay for Performance: Read Chapter 9 of the Text The Evidence Read the article “ Options: Too Much of A Good Incentive” prepare for in class discussions MARCH 25, 27 Chapter 10: Pay for * Read Chapter 10 of the Text Performance Plans MARCH 29, Chapter 11: Performance *Read Chapter 11 of the Text Appraisal APRIL 1-2 MID-TERM BREAK HURRAYYY!!!! APRIL 3, 5 Chapter 12: The Benefits *Read Chapter 12 of the Text Determination Process APRIL 8, 10, 12 Chapter 13: Benefits Options *Read Chapter 13 of the Text
APRIL 15, 17, 19 Chapter 14: Compensation of *Read Chapter 14 of the Text Special Groups APRIL 22 SECOND QUIZ (IN-CLASS) Revise Chp. 8 & 9 (SATURDAY) APRIL 24, 26, 29 Chapter 15: Union Role in Wage *Read Chapter 15 of the Text and Salary Administration MAY 1, 3, 6 Chapter 16: International Pay *Read Chapter 16 of the Text Systems MAY 8, 10, Chapter 17: Government’s Role in *Read Chapter 17 of the Text Compensation MAY 13 SECOND MAJOR EXAM Revise Chp. 11, 12, 13 & 14 (SATURDAY) VENUE: BUILDING 10 (AUDITORIUM) TIME: 8:00 pm TO 10:00 pm May 15, 17, 20, 22, Chapter 18: Budget and Read Chapter 18 of the Text 24 Administration Read article “ Commentary: An Options Plans Your
5 CEO Hates” and prepare for in-class discussions MAY 20 SUBMISSION OF ESSAY (SATURDAY) HOMEWORK ASSIGNMENT TIME: 8:00 AM (IN-CLASS) MAY 27 COURSE REVIEW BEFORE FINAL EXAM (AS SPECIFIED BY FINAL EXAMINATION Revise Chp. 15, 16, 17, & 18 of REGISTRAR’S the Text OFFICE)
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