REWARD MANAGEMENT
This unit or subject is examined by KNEC on those taking the following courses:
Introduction
This module unit is intended to equip the trainee with knowledge, skills and attitudes that will enable him/her manage a reward system for employees in an organization.
General Objectives
At the end of the module unit, the trainee should be able to:
- Recognize the importance of reward management system in an organization
- Carry out a job evaluation exercise
- Design an employee compensation package
- Determine an appropriate employee incentive scheme
- Manage emerging issues and trends for employee reward management in an organization
The topics that need to be covered as required by KNEC in this unit/subject are as follows:
Topic 1: Introduction to Reward Management
- Meaning of terms used in reward management
- Importance of reward management
- Objectives of reward management
- Requirements of an appropriate reward management policy
Topic 2: Employee Compensation
- Meaning of terms used in employee compensation
- Components of an employee compensation package
- Factors influencing employee compensation
Topic 3: Job Evaluation
- Meaning of job evaluation
- Objectives of job evaluation
- Importance of job evaluation
- Procedure of job evaluation
- Methods of job evaluation
Topic 4: Employee Incentive and Benefits
- Meaning of employee incentives
- Meaning of employee benefits
- Importance of employee incentives
- Types of employee incentives
- Importance of employee benefits
- Types of employee benefits
Topic 5: Wage and Salary Administration
- Meaning of a wage
- Meaning of a salary
- Wages and salary payment systems
- Types of salary structures
- Factors affecting wage and salary administration
- Techniques of evaluating wage and salary systems
Topic 6: Performance Management
- Meaning of performance management
- Purpose of performance management
- Principles of performance management
- Performance management procedure
- Relationship between performance management and pay
Topic 7: Emerging Issues and Trends
- Emerging issues and trends
- Challenges posed by emerging issues and trends
- Ways of coping with challenges posed by emerging issues and trends
