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HRM

Contents
Introduction............................................................................................................... 2
Concept of total reward................................................................................................. 2
Intrinsic and Extrinsic reward......................................................................................... 2
Pros and Cons of offering intrinsic benefits........................................................................3
Pros and cons of offering extrinsic reward.........................................................................3
Conclusion................................................................................................................ 4
References................................................................................................................ 5

Supporting Good Practice in Performance & Reward Management
Task 1
Introduction
It is true that reward plays a significant role in motivating the employees in organisation to
perform better. Reward has the direct link with the performance of employees. In addition to
the financial benefits, it is also essential to provide the non-financial benefits to employees in
terms of recognition. When performance of employees are seen, it is essential to consider
several factors such as sitting arrangement, working conditions as well as stress management
of employees at workplace. These certain conditions are required by a manger to manage the
performance of employees.
Concept of total reward
Total Reward is said to be the reward strategy that brings together every investment that is
made by an organisation in its workforce such as pay, learning and development and
pensions. In this approach, organisation goes beyond the basic pay by showing different
benefits within the package of employment. It tends to promote as well as encourage the
engagement that in turn helps in improving the organisation performance (Velmurugan &
Sankar, 2017). It is long term approach that does not required to complex. In this way, total
reward includes both monetary as well as non-monetary benefits that can assist the
organisation in enhancing and promoting their reputation as great place to work. However,
the success of total reward depends on the clear communication (Singh & Behera, 2016).
Intrinsic and Extrinsic reward
It is true that motivating employees with rewards and incentives are one of the best way to
improve the employees performance. Two types of rewards can be given to the employees for
motivation. Intrinsic rewards are said to the non-physical rewards. This kind of reward is
emotionally