CMS 2 Compensation Concepts and Principles
This course is scheduled for revision for fall 2010. Current study materials are valid for exams taken on or before September 30, 2010.
This is a required course for the CEBS and CMS 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 role of government and legal compliance issues in determining compensation practices.
Testing Appointments: Please note the course number to use to for making appointments at Prometric for CMS 2 is Course 30.
Study Materials
- Study Manual, 1st edition-includes Practice Exam on CD (PC only), $125.00.
- Compensation, 7th edition, George T. Milkovich and Jerry N. Newman, McGraw-Hill, 2002, $122.00. ISBN 0-07-243671-9 (or 0-390-85012-8) SOLD OUT
For exams taken on or after October 15, 2010
- Learning Guide, 1st edition-includes Practice Exam on CD (PC only), $145.00.
- Compensation, 10th edition, George T. Milkovich, Jerry N. Newman and Barry Gerhart. McGraw-Hill, 2010, ISBN 978-0-07-353049-9. $173.75
May meet CE Credit Requirements
Click here for ACE Credit Recommendation.
Assignment Topics
(for exams taken on or before September 30, 2010)
- Compensation Management: A Strategic Perspective and Framework for Analysis
- Internal Alignment of Organizational Pay Structures
- Job Analysis--The Initial Step in Job-Based Pay Systems
- Job Evaluation: Measuring Content, Value, and External Market Links
- Person-Based Pay Systems
- Competitiveness and Compensation
- Designing Pay Levels, Mix and Pay Structures
- Pay for Performance
- Pay-for-Performance Plans
- Performance Appraisal
- The Benefits Determination Process
- Benefits Options
- Compensation of Special Groups and Union's Role in Wage and Salary Administration
- International Pay Systems
- Issues, Budgets and Administration of Compensation
Assignment Topics
(For exams taken on or after October 15, 2010)
- Compensation Management: A Strategic Approach and Analytical Framework
- Establishing Internal Alignment
- Job Analysis--Critical First Step in Job-Based Pay Systems
- Job Evaluation: Measuring Content, Value, and External Market Links
- Person-Based Pay Systems
- Attracting and Retaining Talent
- Designing Pay Levels, Mix and Pay Structures
- Rewarding Talent: Pay for Performance
- Aligning Strategy, Talent and Rewards: Pay-for-Performance Plans
- Employee Benefits: Key Feature of Total Rewards
- Rewards in a Global Marketplace
- Managing the Compensation Process