Reward Management
Recently, Reward Management is an important role in Human Resources Management. Many organizations realized the benefit of the reward system , in a way that it could reinforce the employee’s performance, enhance motivation and gain their commitment. For example, when employees know that rewards are tied to their performance, they will try to perform better and take ownership of their jobs. Also, it is a motivation that makes employees evolve a sense of accomplishment and take pride in their work, which in turn increases ownership.
Remuneration is a major feature for employment. It is the reason that why people are working. The contribution of employees to the organization can be compensated in terms of monetary or non-monetary terms. Remuneration does not just compensate employees for their efforts, but also affect the recruitment and retention of talented people. There are three recommendations for improving performance by using modern reward management techniques.
First, we would recommend that remuneration to be linked to performance, linking to the pay to the quantity of the employee’s output or productivity charts, and therefore the remuneration with be depending on the result, whether the outcome is to be of good quality or outstanding quantity. Another type of performance-linked remuneration is performance related pay, where the performance of employee is measured against previously set objectives, or compared with the various tasks listed in the job description by using performance appraisal system. Based on the above features, we propose to add in these kinds of features into the reward system. We can hold some reward planning, which is related to pay that to encourage most of employees.
Secondly, staff motivation can be enhanced through the reshaping of working routines and hours. Nowadays, many employees have complaint about the long working hours and the private life being invaded. However, reducing working hours is not always possible due to
Remuneration is a major feature for employment. It is the reason that why people are working. The contribution of employees to the organization can be compensated in terms of monetary or non-monetary terms. Remuneration does not just compensate employees for their efforts, but also affect the recruitment and retention of talented people. There are three recommendations for improving performance by using modern reward management techniques.
First, we would recommend that remuneration to be linked to performance, linking to the pay to the quantity of the employee’s output or productivity charts, and therefore the remuneration with be depending on the result, whether the outcome is to be of good quality or outstanding quantity. Another type of performance-linked remuneration is performance related pay, where the performance of employee is measured against previously set objectives, or compared with the various tasks listed in the job description by using performance appraisal system. Based on the above features, we propose to add in these kinds of features into the reward system. We can hold some reward planning, which is related to pay that to encourage most of employees.
Secondly, staff motivation can be enhanced through the reshaping of working routines and hours. Nowadays, many employees have complaint about the long working hours and the private life being invaded. However, reducing working hours is not always possible due to