HR565 – Rewards Management

This unit will provide the foundation and understanding of the function of remuneration and reward management and its role in promoting organization competitive advantage. It will examine total rewards in an organizational and international context and through this examination provide students with a strong understanding of remuneration practices and the environments in which organizations plan, implement and evaluate remuneration and reward systems. A major focus of the course will be on contemporary theories and practices of total rewards management and more specifically on the process of designing an internally aligned and externally competitive total rewards package to attract, retain and engage talents. Also, a special emphasis will be given on the contribution of reward and compensation systems on HR sustainability and overall business sustainability. Learners will be able to comprehend the relationship between traditional, contingent and development choices in rewards, the use of diagnostic and evaluative skills in designing flexible approaches to reward and the challenges of international and executive pay arrangements. Moreover, students will be informed about new approaches to reward management associated with brain and behavioural science. Finally, a critical reflection on theory and practice from an ethical and professional standpoint and for continuous professional development will be enhanced