Contents

• Introduction
• Examine how the employee reward system supports strategic human management system?
• Explain how an employee reward system can be successfully introduced and maintained within an organization?
• Evaluate a range of pay structures considering their objectives and limitations.
• Case Study: analyze employee reward system in an organization and appraise its contribution to the strategic human resource management function within that organization.
• Conclusion
• Bibliography

Description

In this highly competitive global business environment, employee reward system plays an important role in creating a positive motivational climate in the business world. It is usually referred to as appreciation and praise to the employees by their immediate boss. Rewarding the employees is the greatest management principle in the today’s business environment. This is because people behave the way they are appreciated and rewarded. If the employees are regularly praised for the job done well then they will be motivated to work even more hard and influence their behaviour and performance. Appreciation always works and performs as a universal motivator for hard work and growth. The employees serve as the backbone of any organization therefore it becomes the duty of the employer to satisfy the employee needs and ensures that they lead a good quality work life. This would include good supervision, good working environment, good salary package, supportive incentive programs. The HR manager should devise such strategies to motivate the employees for better performance, praise them for the work done and retain them for long. The companies now also include insurance based plans, child care programs, parent support programs. The companies now offer family and friendly benefits to ensure the employees are satisfied and to remain competitive in the global competitive business environment. There are also employee assistance programs like employee given decision making power, job security, gain sharing, child and elderly care.
All these efforts have been taken by the organization so as to influence the motivation level in the employees through the reward system. This results in higher productivity, greater morale and increased employee satisfaction.