Managing Total Rewards

Catalog description

Organizational leaders must design and implement compensation systems to recruit, motivate and reward their workforce. This course addresses the theoretical and practical issues associated with designing and managing effective compensation systems within organizations. The design challenges involve choosing the right mix of compensation elements, establishing internal and external equity, and ensuring individual fairness. The management challenges involve budgeting, administration, and communication. The course will examine how employee compensation has evolved from simple cash compensation, to incentive pay and bonuses, to compensation including an wide array of employer-provided benefits, and ultimately to a ?total rewards? approach that strategically seeks the right blend of monetary and non-monetary elements that attract, energize and retain workersOver. (MHA-EL)