Reward Management Issues and Trends

Amarjyoti kr

Abstract


Reward Management refers to all forms of financial benefits received by the employees from the employers arising from the employment. In an organization, human resource are the assets on which the overall success depends. The main objective of Reward Management is to reward fairly, equitably in order to motivate the employer towards acheiving the organizational goals. It deals with development of reward strategies, design, formulate and implementation of reward system. Rewards built the confidence among the employees and motivate them to give better performance which results job satisfaction and helps to reduce turnover. This paper seeks to explore the factor which determines how much you have to pay? The paper draws a study of rewards, which are given by the management. It focuses on the role of motivation as an integral factor. Organizations may improve reward system to survive and make more effective and efficient. Performance appraisal is the method in which the employee's job performance is evaluated & rewarded. The reward strategies will not only improve the performance but also act as a role of decision making process and also helps to solve the reward related problems. In this study the performance of employees determines the rewards. This paper seeks the current trends in reward management. Different organizations are using different techniques and criteria for the determination of rewards. The quality of effective reward system motivates employees, make positive towards the organization's ineffective system and reduce the performance which hampers the productivity of the organization. The study focuses on some issues and key reward management trends. It will have lots of contribution towards the business world. In order to survive in the today's environment, organizations take helps from the study by making improvements and changes in the reward system.


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