Reward Management Essay

Recently, Reward guidance is an important role in Human Resources Management. Many organizations realized the profit of the yield system , in a way that it could reinforce the employees execution of instrument, enhance indigence and gain their commitment. For example, when employees know that rewards are tied to their performance, they pass on try to perform better and take ownership of their jobs. Also, it is a motivating that makes employees evolve a sense of accomplishment and take pride in their work, which in turn increases ownership. wages is a major feature for utilisation. It is the soil that why people are workings. 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 belongings of talented people. There are three urge onations 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 employees output or productivity charts, and therefore the remuneration with be depending on the result, whether the outcome is to be of rock-steady quality or outstanding quantity. Another type of performance-linked remuneration is performance link pay, where the performance of employee is measured against previously set objectives, or compared with the several(a) tasks listed in the job description by using performance estimate 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 colligate to pay that to go on most of employees.Secondly, staff motivation can be enhanced through and 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 n ot perpetually possible due to the huge amount of workload. In straddle to grip with the problem, we would recommend flexi-working hours. The concept of flexi-working is to suit the convenience of the employee without influence the organizations functioning. Nowadays, many people are busy on working, studying and managing their family life. To much(prenominal) extent, flexi-work allows flexible entry and leaving condemnations for employee, which is beneficial for employees in managing their time schedule. Being able to manage their work, study and family life, they are able to book a work-life balance, and thus being able to increase their productivity, decline in absenteeism, and reduction in employee turnover and increases their moral.Thirdly, competition among work increases vigorously, and employees tend to undertakes assorted training courses or opt for further study. As a result, we would recommend the linking of training or education sponsorship with the performance. F or example, if the employees opt for a course related to their job nature, the company can sponsor their cost of training. In order to enhance performance, we suggest the amount of sponsorship to be linked with the employees performance, and the fee is to be made upon the successful completion of the course. To such extent, the employees motivation to perform is enhanced, and they are more willing to equip themselves with the necessary skills related to their job.In conclusion, reward management is essential in managing the performance of the employee. Remuneration is the major and yet the most essential element in employment term, and therefore managing the reward system can effectively enhance the employees performance and motivation. Yet, both monetary and non-monetary reward can be employ for the aforementioned purpose.