HRM5055 – Comprehensive Reward Systems: Designing Compensation and Benefits Packages for Organizational Success


HRM5055 – Comprehensive Reward Systems: Designing Compensation and Benefits Packages for Organizational Success

HRM5055 – Comprehensive Reward Systems is an essential course for HR professionals seeking to understand how to design effective compensation systems. This course provides students with the knowledge and tools needed to develop reward systems that motivate employees, align with organizational goals, and comply with legal standards.

Course Overview:

In HRM5055, students will explore various compensation models, both direct and indirect rewards, that contribute to employee satisfaction and organizational performance. This course examines how organizations can design reward systems that not only attract and retain top talent but also align with organizational culture and goals. Topics covered include the principles of total rewards, including base salary, incentives, benefits, and perks.

Key topics include:

  • Compensation Models: Understanding how base pay, incentives, and bonuses function in the broader compensation framework.

  • Indirect Rewards: Examining benefits packages, health insurance, retirement plans, and employee perks.

  • Reward System Design: Learning how to create and implement a comprehensive reward system that meets the needs of both the organization and its employees.

Key Learning Outcomes:

By the end of this course, students will:

  • Understand how to design compensation systems that align with both organizational goals and employee needs.

  • Learn how to develop a total rewards system that includes both direct and indirect rewards.

  • Gain insights into how compensation strategies impact employee motivation, engagement, and retention.

  • Master the skills necessary to build competitive and sustainable compensation plans that attract and retain talent.

This course provides the tools necessary to create a comprehensive reward strategy that enhances organizational performance and supports long-term success.