Singapore University of Social Sciences

Total Rewards Strategy (HCM537)

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

HCM537 Total Rewards Strategy focuses on total rewards: the universe of incentives that motivate performance in organisations, from tangible rewards such as pay and benefits to more intangible ones such as skills development and finding personal meaning in work. The course will offer a strategic perspective, teaching students to design and implement reward systems that are aligned with both human capital and overall business strategy. The course will cover job analysis and evaluation for the purpose of determining pay scales towards a cost effective, equitable and competitive compensation structure. The use of variable and contingent rewards as a strategic means of aligning individual and group efforts towards organizational results will also be covered. As with other courses in the MHCM programme, HCM537 will begin by focusing on the Singapore context before zooming out to consider compensation practices in the wider region.

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

Topics

  • The pay model
  • Strategy: the totality of decisions
  • Defining internal alignment
  • Job-based and person-based structures
  • Defining competitiveness
  • Designing pay levels, mix, and pay structures
  • Pay-for-performance
  • Performance appraisals
  • Benefits: processes and options
  • Compensation in Singapore
  • Regional and international compensation
  • Compensation ethics

Learning Outcome

  • Analyse reward strategies, models, and systems that balance risk and reward.
  • Examine total rewards in relation to individual and group performance.
  • Appraise legal and ethical dimensions of compensation and reward in Singapore and the wider region.
  • Create internally consistent and market-competitive reward systems.
  • Formulate compensation and reward strategies for special groups.
  • Evaluate the effectiveness of total rewards in achieving organisational objectives.
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