Strategic Human Resource Management Planning

Running head: STRATEGIC HUMAN RESOURCE MANAGEMENT PLANNING
Strategic Human Resource Management Planning
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STRATEGIC HUMAN RESOURCE MANAGEMENT PLANNING1
Table of Contents
Reward Strategies.......................................................................................................................2
Employer Brand.........................................................................................................................3

STRATEGIC HUMAN RESOURCE MANAGEMENT PLANNING2
Reward Strategies
As stated by Taylor, Doherty and McGraw (2015), the reward strategy as a Human
Resource approach is determined to be the designing of the plan, policies and practices that
are known to support the objectives of the organisation. This is because the reward strategies
help in delivering a motivated and enthusiastic workplace as well as workforce in any
productive business firm. The HRM connected to an organisation pays the reward to its
employees in the connection of getting its overall goal achieved by the help of providing
monetary benefits to the employees out of their basic salary (Landry et al. 2017). The theory
of paying the rewards comes into light when the employees overshoot the general targets
given to them or even when the same performs in an excellent way as compared to the peer
workers. This, in turn, leads to an increase in the productivity of the organisation because the
employees try to get more amount of work done in the concern of receiving higher reward
benefits. Not only this, but the non-monetary reward benefits are also provided by the
business organisations in terms of satisfying the mental state and stability of the employees
and keep them motivated to work in one particular organisation. This is because there are
many employees working at the senior level department of the organisation, and monetary
benefits are not investigated to be the one that motivates them to retain themselves in the
organisation. It was investigated that the synergy of being recognised as well as being self-
developed and increment in one’s personality development is what keeps some employees of
the company motivated (Wepfer 2016). Thus, it can be stated that an organisation needs the
aspect of reward strategy in the context that it helps the organisation to gain employee loyalty
and therefore these motivated employees will work an extra mile to achieve the desired goals
and objectives of the firm. The four major areas that are covered in the aspect of reward
strategy are known as the cash compensation, the benefits of affordability provided to the
employees, the personal growth of the employees and the healthy and unbiased working