Managing Reward Systems

DESCRIPTION:
Compensation principles and strategy to achieve organizational effectiveness through job evaluation methods, salary surveys, creation of the wage structure, performance management, and the administration of compensation and benefits programs.

RATIONALE: 
Compensation should be fair, equitable, comply with legal, social and individual needs, and serve the overall business strategy. This course examines the techniques used to achieve internal wage equity, external salary competitiveness and individual/team effort recognition, through job evaluation, salary surveys and performance management. It provides the student with knowledge and insight into wage and benefits administration, for the purpose of achieving employee motivation and fulfilling the organization’s strategic goals. It is a basic, distinct and indispensable function of human resource management.

LEARNING OUTCOMES: 
As a result of taking this course, the student should be able to:
1. Analyze the various forms of pay and evaluate the strategic contribution of reward management to organizational effectiveness (analysis and evaluation).
2. Analyze the policies of internal alignment, external competitiveness, employee contributions as well as the pay techniques and assess how they affect the creation of fair and equitable pay structures and systems (analysis and evaluation).
3. Synthesize and apply knowledge in human resource reward systems to contemporary organizations. (synthesis and application)

METHOD OF TEACHING AND LEARNING:
In congruence with the teaching and learning strategy of the college, the following tools are used:
• Classes consist of lectures, case studies, experiential exercises, and in-class discussion of related material.
• Office Hours: Students are encouraged to make full use of the office hours of their instructor in order to consult and discuss issues related to the course content.
• Use of the Blackboard learning platform: in order to enhance the teaching and learning process, instructors may use the site to post their announcements, upload related course material, lecture notes, assignment instructions and additional resources.