CMS 1–Compensation Concepts and Principles
This is a required course for the CMS and CEBS designations.
This course provides a framework for understanding various types of compensation approaches. The course begins by presenting a pay model outlining strategic compensation objectives, policies that form the foundation of a compensation system and alternate techniques that can be used in paying employees. The course distinguishes between job-based and person-based pay structures and the ongoing management functions that maintain internal alignment, enhance organizational competitiveness and create employee incentives within these various types of pay systems. Methods for decision making regarding pay level, pay mix and pay structures are explored. Various pay-for-performance plans are explained along with research evidence concerning their effectiveness in motivating employees and achieving business objectives. The course also examines the compensation of special groups, external market forces that impact compensation, the collective bargaining process and the roll of government and legal compliance issues in determining compensation practices.
Study Materials
- Learning Guide, $145.00
- Text: Compensation (2nd Canadian Edition), by Milkovich, Newman and Cole, McGraw-Hill-Ryerson, 2007, $118.95
See Study Materials for details on how to order study materials.
Note: The Readings Updates—September 2009 and September 2008, are required reading for this course. Download them here, use the order form or e-mail cancebs@ifebp.org to order your free copies.
Enrichment Reading:
Canadian Master Labour Guide, 26th Edition
Assignment Modules
-
Compensation Management: A Strategic Framework
-
Internal Alignment of Organizational Pay Structures
-
Internal Alignment Continued: Job-Based Pay Systems – the Job Analysis Step
-
Internal Alignment Continued: Job-Based Pay Systems – the Job Evaluation Step
-
Internal Alignment Continued: Person-Based Pay Systems
-
External Competitiveness – Defined
-
External Competitiveness: Designing Pay Levels, Pay Mix and Pay Structures
-
Employee Benefits
-
Pay for Performance: Plan Design and Performance Appraisal
-
Pay-for-Performance Plans
-
Managing the System: The Impact of Government and Unions
-
Managing the Pay System: Budgets, Administration and Communication
-
Managing the System: International Pay Systems