Total Rewards and Performance Management

Catalog description

Explores the concept of total rewards, its fundamental elements, and strategic prevalence in attracting, motivating and retaining valued employees, and its integration with performance management. Topics include job evaluation, pay surveys, compensation plans and structure, individual and group incentives, and employee benefit principles and concepts. Covers the design of incentive plans, including merit pay, bonuses, equity awards, gain sharing, profit sharing, piece rate, tipping, and commission systems. Students will participate in strategic goal and program development, examining how total rewards, compensation, and benefit design impact performance and contribute to defining organization culture.