CMS 1–Compensation Concepts and Principles

 This is a required course for the CMS and CEBS designations.

This course is under review. If you have already purchased study materials, you will need to complete your exam in 2017.
   
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 (2nd edition), $185.00
  • Text: Compensation (4th Canadian Edition), by Milkovich, Newman and Cole, McGraw-Hill-Ryerson, 2013, $151.95
  • Readings Updates

See Study Materials for details on how to order study materials.

Assignment Modules

  1. Compensation Management: A Strategic Framework
  2. Internal Alignment of Organizational Pay Structures
  3. Internal Alignment Continued: Job-Based Pay Structures– the Job Analysis Step
  4. Internal Alignment Continued: Job-Based Pay Structures– the Job Evaluation Step
  5. Internal Alignment Continued: Person-Based Pay Systems
  6. External Competitiveness Defined
  7. External Competitiveness: Designing Pay Levels, Pay Mix and Pay Structures
  8. Employee Benefits
  9. Pay for Performance: Plan Design and Performance Appraisal
  10. Pay-for-Performance Plans
  11. Managing the System: The Impact of Government and Unions
  12. Managing the Pay System: Budgets, Administration and Communication
  13. Managing the System: International Pay Systems