HRMN 4831 - Total Rewards

Course Description

Students develop an understanding of the different rewards systems available to employers to attract, motivate and retain qualified employees. The topics include impact of rewards on attraction, retention and performance management; strategic framework for compensation; behavioural framework for compensation; components of compensation strategy; formulating rewards and compensation strategies; job evaluation; evaluating the labour market and individuals; designing base pay, performance pay and indirect pay plans; and implementing, managing, evaluating and adapting compensation systems.

Learning outcomes

• Recognize the impact of rewards on attraction, retention and performance management.
• Discuss the impact of the environment, business strategy and workforce on compensation.
• Evaluate the relationship of strategic and behavioural theories with compensation design.
• Describe the components of compensation strategy.
• Evaluate the relationship amongst the components of total rewards.
• Formulate a reward and compensation strategy.
• Describe the different options and rationale for compensating special groups.
• Analyze the content and base pay structure of jobs.
• Evaluate the labour market and the individual with regard to compensation.
• Design reward and compensation systems with appropriate pay plans.
• Describe how to implement, manage, evaluate and adapt a compensation system

Course topics

• Module 1: Impact of Rewards on Attraction, Retention and Performance Management
• Module 2: Strategic Framework for Compensation
• Module 3: Behavioural Framework for Compensation
• Module 4: Components of Compensation Strategy
• Module 5: Formulating Rewards and Compensation Strategies
• Module 6: Job Evaluation
• Module 7: Evaluating the Labour Market
• Module 8: Evaluating Individuals
• Module 9: Designing Base Pay, Performance Pay and Indirect Pay Plans
• Module 10: Implementing, Managing and Evaluating Compensation Systems
• courseduration

30 weeks

Required text and materials

Students are responsible for purchasing the required materials on their own:

• Long, R. J., & Singh, P. (2021). Strategic compensation in Canada (7th ed.). Top Hat.
  Type: E-Textbook: ISBN: 9781774128626 / 978-1-77-412844-2

Note: This item can be purchased directly from Campus eBookstore via Wolfie's Campus Store.

Assessments

To successfully complete this course, students must achieve a passing grade of 50% or higher on the overall course, and 50% or higher on the final mandatory exam.

Recommended requisite(s)

• HRMN 2821

or

• HRMN 2820

or

• HRMN 3820

Exclusions

• BBUS 4830
• HRMN 4830