Singapore University of Social Sciences

Reward Management and Practices (HCM519)

Applications Open: To be confirmed

Applications Close: To be confirmed

Next Available Intake: To be confirmed

Course Types: To be confirmed

Language: English

Duration: 6 months

Fees: To be confirmed

Area of Interest: Management

Schemes: To be confirmed

Funding: To be confirmed


Synopsis

HCM519, Reward Management and Practices, focuses on how employee contribution is recognized through monetary and non-monetary rewards, with an emphasis on the use of pay as a strategic means of aligning individual and group efforts to organizational priorities. Although the relationship between pay and performance is complex, performance-related pay systems will continue to be of central interest to employers. The practical difficulties in establishing total reward will be assessed. The module will also examine critical employee benefits issues that organizations commonly face, for example, cost control and decisions to outsource. Special attention will be given to the Singapore and Asian contexts.

Level: 5
Credit Units: 5
Presentation Pattern: Every January

Topics

  • Strategic compensation: an overview
  • Contextual influences on compensation practice
  • Bases for pay (I): seniority and merit
  • Bases for pay (II): incentive pay
  • Bases for pay (III): person-focused pay
  • Building internally consistent compensation systems
  • Building market-competitive compensation systems
  • Building pay structures that recognize employee contributions
  • The use of non-monetary rewards
  • Employee benefit determination process
  • Employee benefit options
  • Compensating senior management
  • Compensating the flexible workforce
  • Compensating expatriates
  • Effective reward communication
  • Compensation and benefits practices in Asia

Learning Outcome

  • formulate a compensation philosophy and strategy
  • create internally consistent pay systems
  • prepare market-competitive pay systems
  • analyze compensation packages that balance risk and reward
  • examine pay in relation to individual and group performance
  • formulate compensation strategy for special groups
  • evaluate total reward as a tool to achieve corporate goals
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