Reward Management

RUNNING HEAD: REWARD MANAGEMENT 0
Reward Management

REWARD MANAGEMENT 1
Table of Contents
Introduction................................................................................................................................1
Reward management..................................................................................................................1
Techniques..............................................................................................................................2
Job Evaluation.....................................................................................................................2
Job enlargement and Job enrichment..................................................................................3
Job analysis.........................................................................................................................4
Technologies...........................................................................................................................6
Cloud Technology & SaaS.................................................................................................6
Big data power organization...............................................................................................8
Oracle..................................................................................................................................8
Workforce Simulation.........................................................................................................9
Conclusion..................................................................................................................................9
Bibliography.............................................................................................................................11

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Introduction
When the individual contributes towards the success of the company then the person is
eligible to get the reward. Rewards help in framing the individual behavior in the
organization. Incentives and rewards also contribute towards the strategy implementation.
Rewards are very important for the employee’s motivation as well as this is important to the
company, which has employees. The human resource department is mainly the department
who are responsible for the reward management program in the company (Armstrong,
2010).
In this contemporary world, rewards for good performance and success matter more
compared to the actual achievement. Indeed, as the worldwide financial crisis exposed,
rewards were everything for the cashiers as they struggled for more reckless wages and
increasing risk.
Reward management is anxious with the plans and policies, which aims to reward the
individual’s equitability according to their worth to the association. This contains the terms
such as analyzing & controlling worker remuneration, recompense and all of the other
welfares for the staffs. Reward structure of the company contains of the pay strategy and
practices, pay, various & modern techniques (Güngör, 2011).
This report will be going to give the theoretical knowledge about reward management,
modern techniques which are used by the organization. This will also be going to give the
outline of new forms of technology which will assist the business.

REWARD MANAGEMENT 3
Reward management
According to the research of the, reward management can be defined as the process which
aim is to ensure that the people contribution and value they make to achieve the
organizational goal which is recognized and rewarded (Armstrong, 2011).
As per the research of the various authors, reward management is the tool, which is used to
motivate the employees for the effort given to the organization. This means that reward can
be substituted as compensation or remuneration or clear price of labor. Reward management
is more concern with the employee contribution and value which is given by the employee to
the organization (Collings, 2018).
Various kinds of techniques and technology are playing an important role in employee
rewards, recognition, incentives, and engagement.
Due to the evolution of technology. The role of HR is going under a major transformation.
The development in the technology has not only helped the company in making a great
source of efficiency but also help in giving the rewards to the employees as per the task and
roles (Ernst, 2011).
Techniques
There are numbers of techniques which can be used by the company for a reward at the
different task and for different roles:
Job Evaluation