Reward Management

In most businesses pay and pay-related issues (such as pension schemes) make up a substantial share of the otal costs involved in running a business. Managing this aspect of human resources has become more complex as businesses look increasingly for value for money have growing expectations of what employees can contribute to the business and engage in competition for talent. This module examines critical areas of reward management from both a theoretical and a practice perspective in such areas as the determination of basic and variable pay ; the relationship between reward motivation engagement and high performance ; the importance of non-financial rewards ; and the composition of `total reward’. It also examines the links between the reward HR and overall business strategies and the consequences of choices made in one or other of these areas.

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