Category: Foundation Courses
Field of Study: Business Management & Organization
Audience: HR Managers, HR Generalists
Level of Difficulty: Basic
Delivery Method: Self-Study
Before establishing or adjusting a wage structure, Human Resources Management must consider your organization's internal and external labor market. Doing so will allow them to make decisions about average job salaries that take into account: labor costs, employee productivity, employee retention, salary comparisons to competitors, cost-of-living comparisons, labor unions, and more. This pay-theory course reviews all the internal and external factors you must allow for when making wage determinations.
- Understand the impact of labor costs on an organization’s ability to pay
- Integrate cost of living increases through the use of a cost of living index or software cost of living calculator
- Explain the common use of salary surveys in wage determinations
*The Course Credit Map
displays credit types offered by location and corresponding lists of eligible courses.