Weekly Study Plan and Objectives

We explore the key concepts and practices associated with the management of employee reward, with a special emphasis on the notions of total reward management and strategic reward alignment; that is, on the selection and application of an integrated mix of monetary and non-monetary rewards that maximise the contribution of HR to organisational success and sustainability.

Overall, designing and maintaining a strategically aligned, effective and equitable reward system is a complex and challenging process. Perhaps more so than with any other HR process, it allows HR professionals to demonstrate both their vital worth to organisational effectiveness and their role as guardians of a positive employee value proposition. Effective reward management demands high-order competencies in organisational and behavioural analysis, as well as solid abilities in strategic decision-making, communication and HR leadership.

For these reasons, managing employee rewards can also be immensely rewarding in its own right.

Weekly Study Plan

Work your way through the weekly materials as described below;

Read x

Watch x

Do x

Learning Objectives

By the end of this week you will;

Explain the key elements of the total reward management approach.

Understand the nature, purpose and main options for configuring base pay as the foundational component of employee pay.

Appreciate the purpose of employee benefits plans, and the difference between mandatory and voluntary benefits plans.

Describe the main types of performance-related reward, the advantages and disadvantages of each, and the arguments for and against performance pay.

Understand the options and special challenges in designing reward packages for two key employee categories: chief executive officers and expatriates.