This course is intended to enable the learners 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; behavioral framework for compensation; components of compensation strategy; formulating rewards and compensation strategies; job evaluation; evaluating the labor market and individuals; designing base pay, performance pay and indirect pay plans; and implementing, managing, evaluating and adapting compensation systems.
Expected learning Outcomes:
Upon completing this course, the learners will be able to:
1. Recognize the impact of rewards on attraction, retention and performance management.
2. Discuss the impact of the environment, business strategy and workforce on compensation.
3. Evaluate the relationship of strategic and behavioral theories with compensation design.
4. Describe the components of compensation strategy.
5. Evaluate the relationship among the components of total rewards.
- Editing Teacher: Dan Arwa