Reward management assignment help

Reward management assignment help service

We provide all kinds of reward management assignment help required with performance and reward management homework and assignment. As we all have the idea that what exactly is reward management. We have a devoted expert group of management professionals who can assist you to answer different issues, assignments, and tasks included in reward management. We give reward management assignment help in all areas involving motivation theories, job evaluation, performance appraisal, etc.

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Reward management

Reward Management is related to the implementation & formulation of policies and strategies that goal or intent to recompence persons consistently, fairly, and equitably in harmony with their worth to the society, association, or group.

Reward management is also considered as a motivational preparation that industries apply to prize staff for their success and achievements. The firm sets aim and begins with the rules for its staff & workers to trail to attain and accomplish those aims. It ensures that workforces are undoubtedly attentive to the rules, goals, rewards, and aims they will have for top-class presentations or working.

All workforce trials the same reward or prize arrangement, and the system is planned and ordered just. Using a web-based platform or site to track the development of employees allows the employer and employee to monitor development and without difficulty recognize and find when the aim is touched, and rewards received.

Purpose of Reward management

Here some purpose or objectives of reward management is mentioned:

• Recruit & retain
• Support the strategy of the organization
• Internal & external equity
• Motivate employees
• Financially sustainable
• Strengthen psychological contract
• Efficiently administered
• Comply with legislation

Figure: Reward structure

Classification of Rewards

The reward can be classified as per the types and rewards by individual, organization, or team. More on this given below:

Kind of Reward

Rewards can be further classified into two types:

• Extrinsic rewards: this type of reward gratify basic requirements such as survival, conditions, security, Pay, and treatment.
• Intrinsic rewards: this type of reward gratify high - level requirements such as development and esteem.
• Rewards by Individual, Organization, or Team

Here, Rewards can be further classified into three types:

• Reward by Individual: it includes base pay, benefits, incentives, rewards attendance, competence, and performance.
• Reward by Team: it includes rewards group cooperation and team bonus.
• Reward by Organization: it includes shares, profit-sharing, and gain-sharing.