HRM Lecture (8)

HRM Lecture (8) - Chapter 9 Reward management CHAPTER...

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Chapter 9 Reward management CHAPTER OVERVIEW Chapter 9 provides a theoretical framework for examining reward management. It discusses how reward management is central to the regulation of the employment relationship. Employers use a wide variety of rewards to attract, retain, and motivates employees. The design of the reward system is contingent on organizational and external contexts. The pay model emphasizes internal equity and external competitiveness, and goes on to explore some of the paradoxes and tensions in reward management. Chapter objectives: After studying this chapter, you should be able to: 1. Explain the key functions and role of reward management. 2. Describe the notion of aligning business strategy with reward practices. 3. Describe three key employee behaviours desired by organizations and the role that economic rewards play in shaping such behaviours 4. Define and evaluate different reward options, including base pay, performance pay and indirect pay 5. Describe and evaluate reward techniques, such as job analysis, job evaluation and appraisal 6. Explain how governments intervene in the pay-determination process 7. Explain the paradoxes and tensions in rewards systems in relation to managing the employment relationship CHAPTER OUTLINE Introduction The reward system emphasizes a core facet of the employment relationship: it constitutes an economic exchange or relationship. Global forces impact on pay systems. Changes in reward systems mirror changes in work design and organizations, and the emphasis on individual performance. The nature of reward management [Type text]
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An organization can provide two types of rewards: extrinsic and intrinsic Pay or reward strategy comprises an organization’s plan and actions pertaining to the mix of direct and indirect pay. Objectives of the reward system are to attract and retain high performing employees, maximize employee performance, and satisfy legal standards see (see Figure 9.1). All reward systems contain two elements that contradict each other: cooperation and tensions and conflict between employer and employee. HRM in practice 9.1
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This note was uploaded on 10/24/2011 for the course HR 121 taught by Professor Staff during the Spring '10 term at S.F. State.

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HRM Lecture (8) - Chapter 9 Reward management CHAPTER...

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