Reward and Compensation Management
- Management Sciences
- 800 level
- 2 credit units
- 239 pages
- 25 units
This course, Reward and Compensation Management, equips learners with a foundational understanding of reward systems within organizations. It explores the aims, objectives, and elements of reward management, including total reward strategies and their impact on employee motivation. The course also covers job evaluation methods, performance management, and the legal considerations of equal pay. It is designed to develop the knowledge and skills required to effectively reward and compensate employees.
About this course
- Difficulty
- Intermediate
- Study hours
- 150 hours
- Maths
- Basic
- Content
- Theoretical, case study
- Practical work
- No
- Assignments
- Tutor Marked Assignments
- Final Examination
What you'll read
The real module and unit structure of BUS818, taken from the course material NOUN publishes.
One paragraph, so you can see how it reads
BUS818 · Unit 1: Concepts, Aims and Objectives of Reward Management
The presentation schedule included in your course materials gives you the important dates for this year for the completion of tutor-marked assignments (TMAs) and attending tutorials. Remember, you are required to submit all your assignments by the due date. You should guard against falling behind in your work.
What you should be able to do
- Understand the principles of reward and compensation management.
- Apply motivation theories to design effective reward systems.
- Conduct job evaluations to determine equitable pay structures.
- Develop performance management processes to enhance employee engagement.
- Analyze the legal considerations of equal pay and non-discrimination.
- Design total reward strategies that align with business goals.
What it prepares you for
- Compensation Manager
- HR Manager
- Benefits Administrator
- HR Consultant
- Recruitment Manager
- Human Resources
- Management Consulting
- Financial Services
- Technology
- Healthcare
Where it gets hard
The units students slow down on, and what makes each one heavy.
- Module 4:
Unit 5: Performance Management as a Motivating Process
Performance management as a motivating process requires understanding of complex psychological and behavioral factors.
- Module 5:
Unit 3: Equal Pay for Equal work
Equal pay for equal work requires a deep understanding of legal frameworks and the ability to conduct unbiased job evaluations.
A suggested way through it
13 weeks, about 28 hours in total. Yours will differ.
- Week 1Module 1:
Unit 1: The concept, aims and objectives of Reward management · 2 hours
Read Unit 1: Understand the concept, aims, and objectives of reward management.. Define reward management and its importance in organizational success.. Analyze the principles of fairness, equity, consistency, and transparency in reward systems..
- Week 2Module 1:
Unit 2: Value, system and components of reward management · 2 hours
Study Unit 2: Explore the value, system, and components of reward management.. Examine the relationship between reward value and employee motivation.. Identify the key components of an effective reward system..
- Week 3Module 1:
Unit 3: The elements of reward system · 2 hours
Review Unit 3: Identify the elements of a reward system.. Discuss the role of business strategy in shaping reward systems.. Analyze the importance of performance management and financial rewards..
- Week 4Module 1:
Unit 4: Strategies and levels of reward strategy · 2 hours
Study Unit 4: Examine strategies and levels of reward strategy.. Compare external competitiveness and internal equity in reward strategies.. Discuss the use of job evaluation and achieving equal pay..
- Week 5Module 2:
Unit 1: The nature and context of Total reward · 2 hours
Read Unit 1: Understand the nature and context of total reward.. Differentiate between transactional and relational rewards.. Analyze the components of a total reward system..
- Week 6Module 2:
Unit 2: Reasons and principles of total reward · 2 hours
Study Unit 2: Explore the reasons and principles of total reward.. Discuss the importance of fairness, equity, and transparency in total reward systems.. Analyze the relationship between total reward and employee engagement..
- Week 7Module 2:
Unit 3: Learning, Development and components of total reward · 2 hours
Review Unit 3: Learning, Development and components of total reward.. Discuss the role of learning and development in total reward.. Analyze the components of a total reward system..
- Week 8Module 2:
Unit 4: Work Environment · 2 hours
Study Unit 4: Examine the impact of the work environment on total reward.. Discuss the importance of core values, leadership, and employee voice.. Analyze the relationship between work/life balance and employee satisfaction..
- Week 9Module 3:
Unit 1: Concepts and types of motivation · 2 hours
Read Unit 1: Understand the concepts and types of motivation.. Differentiate between extrinsic and intrinsic motivation.. Analyze the factors affecting motivation in the workplace..
- Week 10Module 3:
Unit 2: Theories of motivation · 2 hours
Study Unit 2: Explore the theories of motivation.. Discuss Maslow's hierarchy of needs and Herzberg's two-factor model.. Analyze the implications of these theories for reward management..
- Week 11Module 3:
Unit 3: Motivation and financial incentives as they affect reward · 2 hours
Review Unit 3: Motivation and financial incentives as they affect reward.. Discuss the role of financial incentives in motivating employees.. Analyze the relationship between money and motivation..
- Week 12Module 3:
Unit 4: Motivation, Job satisfaction and Performance · 2 hours
Study Unit 4: Examine the relationship between motivation, job satisfaction, and performance.. Discuss the factors that contribute to job satisfaction.. Analyze the impact of motivation on employee performance..
- Week 13Course Review
Final Revision · 4 hours
Review all modules and units.. Work on assignments and prepare for final examination..
Preparing for the exam
- Create a study schedule allocating specific time slots for each module and unit.
- Summarize key concepts and theories from each unit to aid recall.
- Practice applying job evaluation methods to sample job descriptions.
- Review case studies on successful and unsuccessful reward systems.
- Focus on understanding the legal frameworks related to equal pay and discrimination.
- Create concept maps linking motivation theories to reward management practices.
- Review all Tutor-Marked Assignments (TMAs) and their feedback.
- Practice answering past exam questions under timed conditions.
- Prioritize studying peak difficulty units identified in the course guide.
- Create flashcards for key terms and definitions.
- Participate in online forums or study groups to discuss challenging concepts.
- Allocate extra study time to areas where you feel less confident.
- Take regular breaks during study sessions to maintain focus and prevent burnout.
Questions students ask about this course
What is BUS818 about?
This course, Reward and Compensation Management, equips learners with a foundational understanding of reward systems within organizations. It explores the aims, objectives, and elements of reward management, including total reward strategies and their impact on employee motivation. The course also covers job evaluation methods, performance management, and the legal considerations of equal pay. It is designed to develop the knowledge and skills required to effectively reward and compensate employees.
How many units does BUS818 have?
BUS818, Reward and Compensation Management, has 25 units across 6 modules, over 239 pages of course material. You can read it one unit at a time.
How many credit units is BUS818?
BUS818 carries 2 credit units, at 800 level in Management Sciences.
Is BUS818 hard?
BUS818 is rated intermediate level, with basic mathematical content. It is mostly theoretical and case study work.
How long does BUS818 take to study?
About 150 hours of study, spread across its 25 units.
How is BUS818 assessed?
BUS818 is assessed by Assignments, Tutor Marked Assignments and Final Examination.
What can I do with BUS818?
Compensation Manager, HR Manager, Benefits Administrator, HR Consultant and Recruitment Manager.