Design of effective Reward strategy and Policy.

Reward benchmarking methodology.

Role of reward in relation to motivation and attraction of talent.

Total reward approaches including financial and non-financial rewards.

Pay structures and systems.

Pay and performance.

Equality and reward.

Job evaluation.

Ethics and reward.

Written assessment – Work based assignment evaluating the role of strategic HRM in relation to Reward policy and design.

Assessment to evaluate all learning outcomes.

Tutor-led learning assisted by recommended texts, articles, and other sources. Student-centred learning will include tasks and activities supported by background reading. Small group activities will enable participants to develop knowledge and understanding of module themes as well as relevant skills and facilitate discussion of issues that draws on their experience. Independent enquiry and consolidation of understanding will be expected and encouraged, with students utilising information from a range of paper and electronic sources.

1. Understand effective reward strategies and policy frameworks and how these apply to your own organisation

Knowledge and Understanding
Enquiry


2. Understand the value of a ‘total rewards’ approach and how this can be used to improve performance and productivity

Knowledge and Understanding
Application
Problem Solving


3. Understand pay structures and approaches to establishing pay levels in a variety of organisational structures and different sectors

Knowledge and Understanding
Analysis,
Application


4. Understand the importance of organisational approaches to compliant and ethical reward practice.

Knowledge and Understanding
Reflection

Armstrong, M. and Brown, D. (2019) Armstrong’s handbook of reward management practice: improving performance through reward. 6th ed. London: Kogan Page.


Perkins, S.J. and Jones, S.E. (2020) Reward management: alternatives, consequences and contexts. 4th ed. London: CIPD Kogan Page.


www.acas.org.uk

www.CIPD.co.uk

The module focuses on the role of strategic reward in attracting, motivating and retaining people at work in order to direct the actions and behaviours of individuals, teams and the organisation towards the achievement of organisational goals. Different financial and non-financial benefits will be applicable depending on the organisational context, but these must always be fair and equitable. The module contains the elements required to design, introduce, manage and evaluate effective and fair reward strategies and how the associated policies and practices link and impact on other people practices.