HRMN 395 Objectives After completing this week you should be able to 1 Describe the key elements of monetary september 2023
Week 2
HRMN 395 Objectives: After completing this week, you should be able to: 1. Describe the key elements of monetary rewards, including hourly, salaried, and executive-level compensation. 2. Define the key elements of analysis and documentation leading to market positioning, including work flow analysis, job analysis, job specifications, and competitive and market evaluation. 3. List the basic methods of assessing and rewarding performance. 4. Explain the key issues of compliance with governmental laws and regulations influencing compensation. 5. Describe the key factors for deciding market positioning of compensation. 6. Explain the role of the market positioning of monetary rewards in the broader total rewards approach to compensation management. Read: Module Two: Core Elements of Monetary Rewards Changing demographics and relationship to monetary compensation, market positioning, rewarding teams, role of unions in determining pay structures The Way We work – in 2025 and beyond (page 13 – 14) Elements to consider when setting compensation Do: Take the self assessment for Module 2. Go to the discussion questions and post answers and value added responses to classmates by Sunday 11:59 p.m. Reminder: The first assignment is due next week! Discussion #1 Describe the market positioning (for total rewards) of at least two organizations. Use a minimum of two references and interact with at least two classmates. Discussion #2 Share at least two examples for how the changes in demographics have resulted in changes to total rewards offered in organizations. Use a minimum of two references. You do not need to interact with a classmate. Discussion #3 What, in your opinion are three top elements to consider when setting compensation? Use a minimum of one reference and interact with at least one classmate. FINC 331 This week we look at how cash is used within the company, how financial statements can be used to forecast future financing needs and how financial ratios can be used to evaluate a company’s financial condition. This type of analysis is useful to managers, investors and lenders. STUDY: Sources and Uses of Cash Planning with pro forma financial statements Financial ratios analysis READ: 1) Module 1: Finance and financial Performance ( Content – Course Resources –Financial Performance Module and Read Commentary) Evaluating Financial Performance Financial Plans and Forecasts 2) Course Text : Boundless Finance Online Text (A PDF of the Boundless course textbook may also be found in Leo under Content > Syllabus) Chapter 3: Analyzing Financial Statements Chapter 4: Forecasting Financial Statements 3) Complete Financial Analysis Tutorial in Investopedia http://www.investopedia.com/university/ratios/ VIEW : For a short video on financial ratios, a key tool of financial analysis see: http://www.youtube.com/watch?v=8DmChanpSmw (Additional ratio analysis You Tube links can be found in Weekly Discussion, ‘Additional Resources’) VIEW and Review: Bean Counting 101 (Parts 3,4 and 5) A Free Accounting Course for Non-Accountants by Arnold S. Grundvig, Jr. http://www.a-systems.net/accounting.htm TO DO: Participate in the Weekly Discussion Problem Set in ‘Homework’ #2- My Tools/ Quizzes & Exams/ Finc 331 Homework Week 2 Check out Alaina Mackins file: FINC 331 Week 2 Homework Hints.pptx Review Group Project Requirements TOPIC 1 Of the five profitability ratios covered in the text, which one do you believe provides the most value to a potential investor? Do you think this depends on the company’s industry? Why or why not? Please also be sure to reply to two classmates with a post that adds value to the discussion. Responses for both class.
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