How do I pay employees? And how do I get paid? This course covers how to pay employees. We begin by asking: "What kind of a person do I need to attract, retain, and motivate for my business to succeed?" From here, we'll explain how to translate that pay strategy into the pay mix: the salary structure, short-term incentives, long-term incentives, and benefits that are aligned to your business objectives. Interested in learning more about the technical aspects of compensation, but don't know where to begin? We'll give an overview of key the key technical skills: compliance with pay regulations, understanding stock options, shopping for health insurance and pension providers, and designing incentive plans. Lastly, we'll discuss non-monetary methods of motivating employees. If you're interested in learning how to pay employees, or learning where your paycheck comes from, this course is for you!
HR for People Managers Specialization (Re-cap)
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Del curso dictado por University of Minnesota
Managing Employee Compensation
358 calificaciones
University of Minnesota
358 calificaciones
Curso 4 de 5 en SpecializationHuman Resource Management: HR for People Managers
De la lección
Pay Determination
This module covers designing a compensation strategy and translating that into a pay structure.
Conoce a los instructores
Alan BensonAssistant Professor
Carlson School of Management, Department of Work and Organizations
Mike DavisSenior Lecturer
Carlson School of Management, Department of Work and Organizations
[MUSIC]
Welcome to our four course specialization in Human Resource management, HR for
People Managers.
I'm John Budd.
>> And I'm Larry Bourgerie.
>> I'm Amy Falink.
>> And I'm Alan Benson.
We're all faculty at the University of Minnesota's Carlson School of
Management's Center for Human Resources and Labor Studies.
You may associate Minnesota with cold winters, but
in the field of human resources people associate Minnesota with thought,
leadership and educational excellence.
>> The Center for Human Resources and
Labor Studies has been a leading center of research and
teaching in the field of human resources, what we call HR, for over 70 years.
We have one of the very best Masters Programs in the field, and
we even have our own library dedicated to providing information on human resources,
let's go check it out.
[MUSIC]
>> Among us we have over 50 years of teaching in the human resource field, and
we are very excited to be team teaching the specialisation course
Human Resource Management, HR for People Managers.
This specialization provides a robust introduction to the key principles,
policies, and practices of human resource management, with a focus on acquiring and
onboarding talent, managing employee performance and rewarding employees.
These are core areas that any people manager needs to know, even if he or
she is not in a human resources field.
>> Throughout the specialization, we present best practices and practical tips
that are informed by the best scholarship and practical learnings in the field.
When you complete the specialization, you'll have a deeper understanding of what
works in the workplace including a toolkit of best practices for
hiring, managing, and rewarding employees.
We've designed the specialization with different kind of learners in mind.
Maybe you're an accidental supervisor, you've been promoted to a manager position
based on your job performance as an engineer,
an accountant, a nurse or many other things.
This means you are now responsible for managing subordinates, lacking HR and
people management training,
you'll want to better know how to manage your staff's job performance.
>> Maybe you are the HR person by default, you don't have any formal HR training but
you're seen as a people person, and therefore are asked to take on
human resources responsibilities, perhaps as a small business grows.
You want to gain confidence in managing a small human resources function and
understand your key responsibilities and options.
>> Maybe you're a career explorer, you have an interest in psychology or
other people oriented issues.
Maybe someone has told you you'd make a good HR person or that you can make more
money in HR than in psychology, but you don't know what it means to be an HR
person, so you want to learn more about HR and what that would mean as a career.
>> Or maybe you're a career refresher, you've been in HR for a while, but
you're wondering whether your thinking is up to date, you want to check
out the current thinking on HR issues from one of the top universities in this field.
>> No matter if you fit one of these profiles or
another one that we didn't describe, we know that you will benefit greatly from
understanding what we call the people manager value proposition.
A value proposition is simply a statement of benefits, so
the people manager value proposition captures the benefits
we will deliver to you through this specialization.
And it also captures the benefits that you will bring to your organization and
to your career after completing this specialization.
>> The people manager value proposition provides a guide to the key
HR related task of effective people managers and
HR professionals, and therefore provides a roadmap for this specialization.
Managers must know how to take organizational objectives and determine
what people need to accomplish, and then understand how to devise and implement
a strategy for leading and motivating employees to fulfill those goals.
But this doesn't occur in a vacuum, it's influenced by organizational values,
external factors like the legal environment, and maybe even labor unions.
So it's this part of the people manager value proposition that I'll cover in
the first course.
>> Finding and hiring the right people is often cited
as the number one concern of businesses today, it seems we are all competing for
the best and brightest workers.
As you will see in our time together, in the second course,
a critical component of the people manager value proposition is to hire talented
people who enable the organization to achieve its strategic goals.
At the outset of the course, we will explore the importance of linking
recruitment goals with overall company strategy, we then look at a number of
options to recruit and select employees, both effectively, and legally.
Throughout the course, we will examine current issues in talent acquisition,
such as how companies are now leveraging social media and
hiring analytics to ensure better quality hires.
>> Once you have hired good employees, the next step that successful people managers
take is to develop the full potential of their employees.
Performance management is a process that helps managers achieved the goal of
getting the best from their employees.
In the performance management course we'll discuss the skills, and
key processes you will need to develop your employees to attain department and
organizational goals.
These skills will include setting clear expectations, providing positive and
corrective feedback, and delivering an effective performance appraisal.
>> Successful people managers must also know how to reward employees.
You begin from the question what kind of person must we attract,
retain and motivate in order to execute our business strategy?
We'll discuss how your answer to that question can help you design
salary structures, benefits, short term incentives and
long term incentives that are aligned to your business strategy.
We'll also help you evaluate benefits and ensure compliance.
Mastering the steps in the people manager value proposition is critical
to the success of any people manager or HR professional.
There's a saying in HR, people join organizations but
they quit their managers.
>> We are here to help you be a manager that employees want to join not quit.
>> We're excited to bring to you this Minnesota expertise on human resources
not matter what your goals are or where you are located.
>> If you've only signed up for one course that's great too, we hope this
introduction to the specialization gives you a better appreciation for
the full range of material covered in these classes,
and that you're tempted to sign up for the entire specialization.
>> We can't wait to see you in our courses.
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