Reward Management

Please note

This document only provides information for the academic year selected and does not form part of the student contract

School:

Huddersfield Business School

Credit Rating:

Level (including FHEQ):

M (FHEQ Level 7)

Graded or Non Graded:

Graded

Version Number

2024.01

Learning Methods

Supervised Time in Studio/Workshop

Guided Independent Study

Synopsis

This module examines total rewards in an organisational and international context and provides learners with the knowledge and understanding of environments in which reward professionals plan, implement and evaluate employee reward policies to support strategic organisational goals. Learners will acquire both theoretical and normative understanding of the diverse approaches to reward management and be able to critically reflect on the strengths and limitations of these approaches in promoting individual and organisational performance in a fair, reasonable and equitable way. The foundations for pay and benefits management in modern organisations in the private, public and voluntary sectors and how these traditions can be integrated into appropriate strategic designs that provide considerations of relative value and worth, individual and collective contribution and labour markets are examined. Learners will be able to comprehend the relationship between traditional, contingent and developmental choices of rewards, the use of diagnostic and evaluative skills in designing flexible approaches to reward and the challenges of international and executive pay arrangements. Critical reflection on theory and practice from an ethical and professional standpoint and for continuous professional development is required.

Learning Strategy

A series of inputs will combine with case studies, activities and group discussion to cover the knowledge, understanding and ability outcomes of this module. A group presentation and individual assignment will provide both formative and summative assessments and support ongoing development and CPD that will allow students to upgrade to … For more content click the Read More button below.

Outline Syllabus

The module begins with an overview of the course then progresses to analyse reward management as an HR practice in a global context; wage flexibility; strategic perspectives on reward and the link to brand and organisational performance; government, employer, employee and institutional constraints on strategic choice of reward practice; influences … For more content click the Read More button below. The relevance of theory in reward management is explored ; economic theories of reward; labour market, human capital, efficiency wage, agency ,internal labour market, union mark-up, tournament; social psychological theories of reward: the psychological contract, expectancy and equity; institutional theories of reward: economic democracy and financial participation, collective bargaining and pay determination. Wage and salary remuneration is considered in context; rewarding seniority, merit and performance in supporting competitive strategy; profit-sharing; gain –sharing, employee share schemes; contingent pay; reward and ownership; job evaluation; managing risk and promoting sustainability; knowledge ,competency and skill –based pay; pension schemes; non-financial rewards, employee recognition schemes, non-cash incentives, flexible working and performance review; flexible benefits. Linkages are made between strategy and structure ;diagnosing the need for change in pay structures; design choices; implementing pay structures; evaluation of pay structures’ contribution to organisational success; differentials and pay relativities. The complexity of international reward management is analysed; the role of corporate governance in public and private sectors; remuneration committees; executive status, reward, benefits and pension packages; short-term incentives; expatriate status, location and assignments; setting base pay and benefits for expatriates; compensation and incentives; repatriation and pay. The strategy of pay is reviewed; the influence of employee voice on pay determination; legal regulation and pay: pay review bodies and the minimum wage; local pay and national pay; rewarding the person or the job; gender, age and pay; labour market and equity: a possible contradiction; future directions of reward management.

The relevance of theory in reward management is explored ; economic theories of reward; labour market, human capital, efficiency wage, agency ,internal labour market, union mark-up, tournament; social psychological theories of reward: the psychological contract, expectancy and equity; institutional theories of reward: economic democracy and financial participation, collective bargaining and pay determination.

Wage and salary remuneration is considered in context; rewarding seniority, merit and performance in supporting competitive strategy; profit-sharing; gain –sharing, employee share schemes; contingent pay; reward and ownership; job evaluation; managing risk and promoting sustainability; knowledge ,competency and skill –based pay; pension schemes; non-financial rewards, employee recognition schemes, non-cash incentives, flexible working and performance review; flexible benefits.

Linkages are made between strategy and structure ;diagnosing the need for change in pay structures; design choices; implementing pay structures; evaluation of pay structures’ contribution to organisational success; differentials and pay relativities.

The complexity of international reward management is analysed; the role of corporate governance in public and private sectors; remuneration committees; executive status, reward, benefits and pension packages; short-term incentives; expatriate status, location and assignments; setting base pay and benefits for expatriates; compensation and incentives; repatriation and pay.

The strategy of pay is reviewed; the influence of employee voice on pay determination; legal regulation and pay: pay review bodies and the minimum wage; local pay and national pay; rewarding the person or the job; gender, age and pay; labour market and equity: a possible contradiction; future directions of reward management.

Learning Outcomes

On successful completion of this module students will

Critically understand the relationship between the environment, strategy and systems of reward management.

Critically explore the conceptual apparatus and theoretical debates informing reward management.

Understand and critique the traditional, contingent and knowledge bases for transactional and relational rewards.

Critically evaluate the key issues in reward management.

Critique and design internally consistent reward structures that recognise labour market and equity constraints.

Critically analyse executive and expatriate rewards in an international context.

Formative Assessment

Assessment 1: Other

Summative Assessment

Assessment 1: Written Assignment

Assessment 2: Presentation

Assessment Criteria

The assessment for criteria is as set out in the University of Huddersfield Business School Assessment Guidelines. The guidelines provide criteria for the assessment of both coursework and examinations.

Course and Module Catalogue