HRM Guest Lecture on 'Compensation, Benefits and Reward' by Sinéad McCotter

Masters students of the Business Administration & Economics Department attending the MSC in Management (Human Resource Management) programme at CITY College, University of York Europe Campus had the extraordinary opportunity to attend an online presentation by Sinéad McCotter, Chartered Fellow CIPD, Fellow HEA on 'Compensation, Benefits and Reward: A theoretical context and a future focus'. The guest lecture was offered on the 27th of April 2023 as part of the Human Resource Policies & Practices module led by Dr Giovanni Serafini.

This online session provided a theoretical context for the challenges that organizations face in compensating their employees in the Post COVID-19 era. Most critically, Sinéad McCotter Chartered Fellow CIPD, Fellow HEA discussed what employers and HR practitioners need to consider when deciding how to compensate and reward their employees, especially given the rapidly changing world of work and global economic uncertainty.

The presentation also addressed the reward strategies to attract, recruit, and retain Generation Z in the context of public sector organizations. Research has found that the background and life experiences of Gen Z influenced their work values and reward preferences. Furthermore, gender plays a role in the importance Gen Z places on distinct rewards. Overall, Gen Z is attracted to specific extrinsic and intrinsic rewards, making public sector organizations a viable employer of choice for this youngest generational workforce. Another critical insight shared relates to the increasing popularity of cryptocurrency, which has led to growing interest from prospective and existing employees in receiving payment in this form. This has prompted compensation professionals to consider incorporating cryptocurrency into their compensation strategies. While offering cryptocurrency as a form of payment can present an innovative compensation plan, it is essential to be aware of the complexities and potential challenges involved. Namely, employers need to be aware of the pertinent legal and regulatory factors, administrative challenges, and associated risks linked to integrating cryptocurrency into their compensation strategies.

A great thank you to McCotter for delivering an insightful and engaging guest lecture on major compensation issues. The importance of total reward and its relevance for achieving sustainable competitive advantage has been of great value to the class!