Reward Management Diploma KNEC Notes

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Introduction to the Module Unit

Reward Management is a unit offered to diploma students in business related courses to equip them with the right attitudes, knowledge and skills to enable them manage reward systems in an organisation.

General Objectives

By the end of this module unit, the learner should be able to:

  • Recognize the importance of reward management system in an organisation
  • 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 organisation.

Topics/Course Outline Required by KNEC

Topic 1: Introduction to Reward Management

1.1. Meaning of terms used in reward management

1.2. Importance of reward management

1.3. Objectives of reward management

1.4. Requirements of an appropriate reward management policy

Topic 2: Employee Compensation

2.1. Meaning of terms used in employee compensation

2.2. Components of an employee compensation package

2.3. Factors influencing employee compensation

Topic 3: Job Evaluation

3.1. Meaning of job evaluation

3.2. Objectives of job evaluation

3.3. Importance of job evaluation

3.4. Procedure of job evaluation

3.5. Methods of job evaluation

Topic 4: Employee Incentive and Benefits

4.1. Meaning of Employee incentives

4.2. Meaning of employee benefits

4.3. Importance of employee incentives

4.4. Types of employee incentives

4.5. Importance of employee benefits

4.6. Types of employee benefits

Topic 5: Wage and Salary Administration

5.1. Meaning of a Wage

5.2. Meaning of a salary

5.3. Wages and salary payment systems

5.4. Types of salary structures

5.5. Factors affecting wage and salary administration

5.6. Techniques of evaluating wage and salary systems

Topic 6: Performance Management

6.1. Meaning of performance management

6.2. Purpose of performance management

6.3. Principles of performance management

6.4. Performance management procedure

6.5. Relationship between performance management and pay

Topic 7: Emerging Issues and Trends in Reward Management

7.1. Emerging Issues and trends in reward management

7.2. Challenges posed by emerging trends and issues in reward management

7.3. Coping with challenges posed by emerging trends and issues in reward management

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