Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

Reward Management

41,526 views

Published on

This is an important aspect of HR especially in a Current Scenario when talent engagement is very important and Reward management plays a vital role in it.

Published in: Economy & Finance, Business
  • Finally found a service provider which actually supplies an essay with an engaging introduction leading to the main body of the exposition Here is the site ⇒⇒⇒WRITE-MY-PAPER.net ⇐⇐⇐
       Reply 
    Are you sure you want to  Yes  No
    Your message goes here
  • If you’re looking for a great essay service then you should check out ⇒ www.WritePaper.info ⇐. A friend of mine asked them to write a whole dissertation for him and he said it turned out great! Afterwards I also ordered an essay from them and I was very happy with the work I got too.
       Reply 
    Are you sure you want to  Yes  No
    Your message goes here
  • DOWNLOAD THE BOOK INTO AVAILABLE FORMAT (New Update) ......................................................................................................................... ......................................................................................................................... Download Full PDF EBOOK here { https://soo.gd/irt2 } ......................................................................................................................... Download Full EPUB Ebook here { https://soo.gd/irt2 } ......................................................................................................................... Download Full doc Ebook here { https://soo.gd/irt2 } ......................................................................................................................... Download PDF EBOOK here { https://soo.gd/irt2 } ......................................................................................................................... Download EPUB Ebook here { https://soo.gd/irt2 } ......................................................................................................................... Download doc Ebook here { https://soo.gd/irt2 } ......................................................................................................................... ......................................................................................................................... ................................................................................................................................... eBook is an electronic version of a traditional print book THE can be read by using a personal computer or by using an eBook reader. (An eBook reader can be a software application for use on a computer such as Microsoft's free Reader application, or a book-sized computer THE is used solely as a reading device such as Nuvomedia's Rocket eBook.) Users can purchase an eBook on diskette or CD, but the most popular method of getting an eBook is to purchase a downloadable file of the eBook (or other reading material) from a Web site (such as Barnes and Noble) to be read from the user's computer or reading device. Generally, an eBook can be downloaded in five minutes or less ......................................................................................................................... .............. Browse by Genre Available eBOOK .............................................................................................................................. Art, Biography, Business, Chick Lit, Children's, Christian, Classics, Comics, Contemporary, CookBOOK, Manga, Memoir, Music, Mystery, Non Fiction, Paranormal, Philosophy, Poetry, Psychology, Religion, Romance, Science, Science Fiction, Self Help, Suspense, Spirituality, Sports, Thriller, Travel, Young Adult, Crime, EBOOK, Fantasy, Fiction, Graphic Novels, Historical Fiction, History, Horror, Humor And Comedy, ......................................................................................................................... ......................................................................................................................... .....BEST SELLER FOR EBOOK RECOMMEND............................................................. ......................................................................................................................... Blowout: Corrupted Democracy, Rogue State Russia, and the Richest, Most Destructive Industry on Earth,-- The Ride of a Lifetime: Lessons Learned from 15 Years as CEO of the Walt Disney Company,-- Call Sign Chaos: Learning to Lead,-- StrengthsFinder 2.0,-- Stillness Is the Key,-- She Said: Breaking the Sexual Harassment Story THE Helped Ignite a Movement,-- Atomic Habits: An Easy & Proven Way to Build Good Habits & Break Bad Ones,-- Everything Is Figureoutable,-- What It Takes: Lessons in the Pursuit of Excellence,-- Rich Dad Poor Dad: What the Rich Teach Their Kids About Money THE the Poor and Middle Class Do Not!,-- The Total Money Makeover: Classic Edition: A Proven Plan for Financial Fitness,-- Shut Up and Listen!: Hard Business Truths THE Will Help You Succeed, ......................................................................................................................... .........................................................................................................................
       Reply 
    Are you sure you want to  Yes  No
    Your message goes here
  • I earned $5000 ultimate month by using operating online only for 5 to 8 hours on my computer and this was so smooth that i personally couldn't accept as true with before working on this website. if you too need to earn this sort of huge cash then come and be part of us. do this internet-website online... ★★★ http://scamcb.com/ezpayjobs/pdf
       Reply 
    Are you sure you want to  Yes  No
    Your message goes here
  • As a single mother every little bit counts! This has been such a great way for me to earn extra money. As a single mother every little bit counts! Finally, a vehicle for making some honest to goodness real money to make life easier and happier now that I don't have to pull my hair out budgeting every penny every day.Thanks for the rainbow in my sky. ■■■ https://tinyurl.com/vd3y33w
       Reply 
    Are you sure you want to  Yes  No
    Your message goes here

Reward Management

  1. 1. Reward Management
  2. 2. Balancing Reward Strategy
  3. 3. Components of Total Rewards  Financial Rewards and Benefits  Base Pay  Contingent Pay ( for Performance or Contribution)  Variable Pay (Cash bonuses)  Share ownership  Benefits  Non Financial Rewards  Recognition  Responsibility  Meaningful Work These arising from the work and work environment itself  Autonomy  Opportunity to use and develop skills  Career Opportunities  Work Life Balances
  4. 4. Factors Affecting Levels of Pay  Factors Influencing Job Values  Intrinsic Values  Internal Organization Relativities.  External Job Market Relativities.  Inflation and Market movement  Business or Financial circumstances
  5. 5. Rewards As Motivator  In any work environment Rewards (both Financial and Non Financial) can act as a motivator.  Financial rewards:  Effectiveness of money as a motivator.  Reasons why people are satisfied or dissatisfied with their rewards.  Criteria which should be used when developing a financial reward system.  Non Financial rewards:  Can be focused on the needs most people have although to different degrees for achievement, recognition, responsibility, influence and personal growth.
  6. 6. Reward Policies for New & genuine Start Ups  Where to start:  Attract and keep people anxious to make organization grow and flourish.  Reward the risk of coming into a new venture with high rewards and generally a share in the business if the risk pays off.  Provide a sensible basic salary that is reasonably competitive with the market for most staff and highly competitive if rare skills have to be brought in.  Lock people to give business stability- with share schemes or profit sharing for everyone.  Make a LEAN organization until some “FAT” comes in the systems.  Payout bonuses or provide non-cash rewards when key milestones in the business plan are successfully achieved.  Improve on office culture and ambience.
  7. 7. Diagnostic Check list  Is there a clear and articulated link between reward strategies and HR strategy on:  Organization design.  Recruitment : a reasonable attractive total package.  Training: rewarding skills acquisition and use.  Development: rewarding the behaviors or competencies associated with good performance and continued learning.  Performance Improvement.  Effective team/group working.  Promotion: rewarding the acceptance and successful delivery of greater responsibilities.  Reinforcing loyalty, integrity and commitment
  8. 8. Diagnostic Check list  Is there a strategy for ongoing reward management which :  A. is based on organization’s:  Mission and values.  Culture.  Current and future needs.  B. Staff at all levels understand, at least in outline and believes to be fair and rational.  C. Provides for a flexible response when different parts of the organization have different needs or face different pressures.
  9. 9. Diagnostic Check list  What is the policy on levels of rewards,  A) the chosen place in a well- defined, surveyed and comparable pay market for different grades, levels and specialisms.  B) the need to attract and retain high quality staff.  C) the need for stability and sustained staff commitment?  Is there a consistent method of progression pay, according to:  A) length of service.  B) experience (how is this assessed?)  C) performance or contribution  D) competency acquisition and use;  F) skill?
  10. 10. To have a detailed discussion CONTACT: NILESH KUMAR +91-997181-1300 NILESHKUMAR25@GMAIL.COM

×