Performance Management and Total Rewards Strategy

Singapore University of Social Sciences

Performance Management and Total Rewards Strategy (HCM553)

Synopsis

The first half of HCM553 Performance Management and Total Rewards Strategy focuses on performance management, beginning with traditional conceptualisations such as annual performance appraisals before moving on to consider contemporary alternatives such as frequent informal conversations and “check-ins”. Components of performance management systems will be identified and discussed. Students will learn about the latest developments and future trends in performance management. The second half of the course focuses on total rewards: the universe of incentives that motivate performance in organisations, from tangible rewards such as pay and benefits to more intangible ones such as skills development and finding personal meaning in work. It will offer a strategic perspective, teaching students to design and implement reward systems that are aligned with both human capital and overall business strategy.

Level: 5
Credit Units: 5
Presentation Pattern: EVERY JAN

Topics

The Performance Management Process
Performance Management and Strategic Planning
Measuring Performance
Implementing Performance Management Systems
Alternatives to the Traditional Performance Appraisal Process
Performance Management, Coaching, and Human Capital Development
The Pay Model
Defining Internal Alignment
Job-based and Person-based Structures
Defining Competitiveness
Designing Pay Levels, Mix, and Pay Structures
Pay-for-performance
Benefits: Processes and Options

Learning Outcome

Discuss traditional performance management systems and contemporary alternatives.
Analyse reward strategies, models, and systems that balance risk and reward.
Examine total rewards in relation to individual and group performance.
Design performance management systems that drive individual and organisational outcomes.
Formulate compensation and reward strategies for different employee groups.
Evaluate the effectiveness of total rewards in achieving organisational objectives.