CQU HRMT20024: Assessment 1 - Strategic Reward Management

This presentation analyzes an article on strategic reward management, focusing on its objectives, methods, and findings within the context of CQU's HRMT20024 course. The presentation outlines the major elements of reward systems, investigates the relationship between performance and rewards, and examines the dimensions of reward strategies. It uses a secondary research method, primarily gathering information from empirical documents to explore the positive and negative impacts of reward strategies. The presentation also explores the development of strategic reward management, its importance within organizations, and the implementation and bestowal methods of rewards. The analysis highlights the significance of rewards in organizational strategic management, emphasizing both the benefits and potential consequences of reward systems.

HRMT20024 Assessment 1
Week (9)
Week 9 Strategic reward management
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Article Title and full referenceAwards: A strategic
management perspective
Gallus, J., & Frey, B. S. (2016). Awards: A strategic management perspective. Strategic Management
Journal, 37(8), 1699-1714.

OBJECTIVES
• To find out the major elements of the
reward system.
• To explore the relationship between
performance and reward.
• To consider the major dimensions of
the reward strategies.
• To figure out the positive and the
negative impacts of the paradigm of
reward strategy.

METHODS
• The method used to conduct the
research was secondary.
• Most of the information was gathered
from empirical documents.
• The data collection type used was
qualitative.

FINDINGS
• Organizational literature neglecting the
negative impacts of awards on employees
and company.
• Provokes a sense of envy amidst the co-
workers.
• When adjusted and designed aptly, it
establishes role models.

CONCLUSION
• Rewards play a significant role in the strategic
management of an organization.
• Most of the emphasis from empirical
documents has been given on the optimistic
side of the impact of Rewards.
• However many such empirical sources have
implied the consequences, if the reward
bestowal is not appropriate.

ARTICLE CONTRIBUTION
• Explores the development of the concept
of strategic reward management.
• Explores the importance of these rewards
systems in an organisation.
• Gives an insight to the implementation and
bestowal methods of rewards.