MBA8109 Compensation and Benefits Management

The course introduces students to reward and compensation management issues.  It provides a definitive overview of the reward process detailing the key role that compensation plays in communicating values, promoting flexibility and maximizing individual contributions to organizational objectives. This course examines the theories, practices and debates in contemporary reward and compensation systems management, with special reference to the trends advocating a move away from 'traditional' pay-for-position to performance-related remuneration at individual, work group and organizational levels.

Course Objectives

• Understanding of role and importance of remuneration and compensation management theory and practice in the management of people and work 
• Making awareness of the various models and existing techniques of remuneration and compensation management and their underlying advantages and disadvantages. 
• A recognition and understanding of the choices and challenges confronting managers and employees alike in remuneration and compensation management.
• Develop appropriate reward and compensation policies. 
• Establish factors to consider when developing a compensation structure.

Learning Outcomes
Upon completion of this course, the student will be able to: 

• Describe the role of compensation in attracting, motivating, and retaining a high-quality workforce. Identify links between compensation objectives and business strategy. 
• Discuss recent theoretical and practical developments in the area of compensation and benefits. 
• Develop the basic competencies required for the development and management of compensation systems
• Discuss how compensation management can become a competitive advantage
• Discuss the role of compensation management as part of the new mandate for HR executives.