What will you learn
You will examine the key factors that influence the design of reward policy. Understanding of organisational strategy and variables is key and you will critically justify the value of benchmarking and reward strategy choices. You will develop in-depth understanding of the total rewards approach and the impact of base and incremental pay and benefits in attracting and motivating employees. You will assess the benefits and challenges of performance appraisal and its links to pay progression. Finally, you will examine the ethical issues that may arise from forms of reward and how the principles of transparency and equity are the cornerstones of responsible and effective approaches to reward.
This module is suitable for persons who:
are experienced people practitioners
are working in a senior people practice role and wish to extend and deepen their skills and understanding to shape strategy, policy and people
wish to shape people practice, creating value for a wider audience
are currently leading and managing people and practice within organisations
On completion of this module, learners will be able to:
Understand effective reward strategies and policy frameworks.
Understand the value of a ‘total rewards’ approach.
Understand pay structures and approaches to establishing pay levels.
Understand the importance of organisational approaches to compliant and ethical reward practice.