Employee reward

5553 mots 23 pages
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What are employee rewards and these aims and consequences?

To optimise their company, employer has to manage in efficiency way their employees, in the framework of the human resource management. For this companies have develop new concept the reward.
Employee reward is about how people are rewarded according to the value of their organisation according to Armstrong (2002).

Rewards involve: according to Perkins et Al (2008)
Financial and non financial reward and benefits, the sump of them make the total reward system.
The reward management or employee reward system consists of an organisation’s integrate policies processes and practises for rewarding its employees according to their contribution, skills, competences and their market worth.
To establish an employee reward, the company need structures and procedures which will provide and maintain appropriate types and levels of pay, benefits and other form of reward. An organisation establish an employee reward system for several aims, these are the most important ones:

* Motivate people and obtain their engagement and commitment;

* Develop a high-performance culture.

According to Murlis (2007),

* Create total reward processes that are based on beliefs about what the organization values and wants to achieve

* Reward people for their value

* Facilate the attraction and retention of the skilled and competent people the organizations needs, so aiding the process of talent management and winning the war for talent

* Develop a positive employment relationship and psychological contract

According to Armstrong (2002) * Play a significant part in the communication of the organisation values, performance, standards and expectations

* Align reward practice with both business goals and employee values to encourage behaviour that will contribute to the achievement of the organisations objectives and reflect the

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