(If the unit runs in semester 2, MSc students must have taken MN50169).
Aims & Learning Objectives:
The course will enable the student to provide informed advice on the major aspects of pay, rewards and performance management, based on a sound understanding of the relevant theories and research evidence.
Content:
The role of reward strategy in an organisation.
Economic, sociological and psychological theories which have influenced pay policies and practices.
Concepts of reward structure, reward system and reward levels.
Different perceptions of fairness which influence employees' satisfaction with their rewards.
Government pay policies. Top people's pay.
Objectives and limitations of job evaluation.
Performance-related pay in principle and in practice.
Knowledge-based, skill-based and competence-based rewards.
Pay discrimination and equal pay.
Employee benefits.
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