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. Prerequisites: There are no prerequisites for the course, but HRMN 2821, or HRMN 2820, or HRMN 3820 are recommended. Note: Students cannot get credit for more than one of HRMN 4830, HRMN 4831.
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. Prerequisites: There are no prerequisites for the course, but HRMN 2821, or HRMN 2820, or HRMN 3820 are recommended. Note: Students cannot get credit for more than one of HRMN 4830, HRMN 4831.
