Reward Management

Awais Ahmad
Komal Sajjad
Quba Ahmed
MSHR-2k18
 What is Reward management
 Components of Total rewards
 Reward Strategies
 Reward Objective
 Setting base pay
 Elements of Reward
 Considerations for Reward
 Reward management is concerned with the formulation and
implementation of strategies and policies that aim to reward
people fairly, equitably and consistently in accordance with
their value to the organization.
 List various types of rewards with few examples and what is
the purpose of that specific type of reward
 Base pay Recognition

Nonfinancial Rewards
Total Remuneration
Financial Rewards

Total Rewards
Variable Development
Of Skills
pay

Share Opportunities
Ownership

Quality of
Benefits Life
 Transactional
Pay
I Benefits
- Base pay
N -Pensions
-Contingent pay
D -Holidays C
-Cash bonuses
I -Health care O
-Shares
V -Flexibility M
-Profit sharing
I U
D Work Environment N
U Learning and Development -Leadership A
A Training -Voice L
L Career Development -Recognition
-Achievement
-Job design
Relational
 Consideration of value
 Focus on behavior and outcomes
 Attract and retain quality employees
 Motivate employees
 High performance culture
 Employer Objective Employee Objectives

• Attracting Staff
•Purchasing power
• Retaining Staff
• Fairness
• Motivating staff
• Rights
• Driving Change
• Recognition
• Corporate reputation
• Composition
• Affordability
Reward strategy is primarily about
aligning an organization’s payment
arrangements and wider reward system
with its business objectives.
 Values for
Statement of Implementation
Rationale developing
intentions plan
initiatives

Armstong and Brown

(2006,p.35)
 External market
comparisons

Internal labor market

comparisons

Job evaluation

Collective bargaining
 Basic rate
 Plussage
 Benefits
 Premia
 Overtime
 Incentive
 Bonus
 Collective or Individual
performance?
 Absolute or Relative
performance?
 Team rewards-less frequent?
 Pay for performance vs best
place to work?
 Factors determining variable
pay?
 Rewarding short-term or long
term performance?