Strategic HRM: Addressing Total Rewards and Compensation Issues

This presentation provides an overview of key HRM issues, focusing on total rewards and compensation strategies. It highlights the importance of total rewards, which encompass various benefits such as bonuses, wages, recognition, career opportunities, and workplace flexibilities, and how these rewards enhance recruitment, company reputation, and organizational productivity. The presentation also discusses the critical role of compensation and benefits in motivating employees and improving organizational effectiveness, using examples like Tesco's approach to employee engagement through bonuses, commissions, and profit sharing. Recommendations emphasize offering perks and incentives to employees to improve performance, while the conclusion reiterates the need for effective HRM strategies to manage employees and improve organizational outcomes through total rewards and compensation.

HRM issues

Table of content
 Introduction
 Total reward
 Compensation and benefits
 Recommendations
 Conclusion
 References

Introduction
 In the present scenario, HRM faces many issues pertaining to managing employees and
this in turn affect the overall performance of a company.
 Similarly, the present study will highlight the key issues pertaining to HRM which includes
total rewards and compensation.
 For that, the PPT will uses real life examples in order to evaluate how the issues needs to
be focused.

Total Rewards
 It refers to the mixture of benefits that
employees can get from the firm in
terms of reward and compensation.
 For instance, bonus & wages,
recognition, career opportunities and
workplace flexibilities

Continued….
 It helps to know the real value of the rewards that provided by the company. In addition to
this, rewards can be in terms of other benefits such as health and safety, promotion,
increment etc.
 Total rewards improved the capabilities of recruitment by increasing the awareness for the
total benefits and compensation that can be provided for the company

Continued….
 This helps to enhance the reputation of the
company in order to employer choice on the
basis of their capacity to work for non-
financial services be
 It is also improved the performance of the
productivity of the organisation.

Compensation and benefits
 In HRM, it plays an important role because it
assists to encourage employees and also
improve the organizational effectiveness.
 Compensation is entire deal with money
matter whereas benefits is related to non-
monetary incentives that given to the
employees which includes health benefits etc.

Continued….
 However, HR always took initiative in order to make their employees more engaging
towards a business so that they can attract and retain best employees for longer term.
 For example, in Tesco, managers and HR includes bonus, commission, stock and profit
sharing in order to generate the best outcome as well as raise the performance of
employees.

Continued….
 Thus, it clearly reflected that company have to
make effective planning in order to improve the
overall performance of employees and generate
the best outcomes for future as well.
 The main purpose of compensation and benefits is
to keep the employees motivated and also provide
them benefits so that they assist company to meet
the defined aim of a business.

Recommendation
 It is to be suggested to the organizations to offers perks and incentives to their employees
which in turn assists to generate the best outcomes and improve the employee
performance.
 Further, effective rewards in the form of monetary and non-monetary form should be
offered which helps to generate the best outcomes in term of productivity. This strategy
also assists to engage employees for longer term and generate best outcome.

Conclusion
 By summing up above it has been concluded that HR face many issues pertaining to
managing employees and that is why, different strategy must be used which includes total
rewards and compensation
 Further, with the help of compensation and rewards, employees can easily improve the
working performance and assists company to generate the best outcomes.

References
 Patiar, A. and Wang, Y., 2020. Managers' leadership, compensation and benefits, and departments’
performance: Evidence from upscale hotels in Australia. Journal of Hospitality and Tourism
Management. 42. pp.29-39.
 Lollo, N. and O’Rourke, D., 2020. Factory benefits to paying workers more: The critical role of
compensation systems in apparel manufacturing. PloS one. 15(2). p.e0227510.
 Sun, Y. and Li, H., 2021. Data mining for evaluating the ecological compensation, static and dynamic
benefits of returning farmland to forest. Environmental Research, p.111524.
 Bwowe, P. W. and Marongwe, N., 2018. Implementing a total reward strategy in selected South
African municipal organisations. SA Journal of Human Resource Management. 16(1). pp.1-9.
 Mabaso, C. M. and Dlamini, B. I., 2018. Total rewards and its effects on organisational
commitment in higher education institutions. SA Journal of Human Resource
Management. 16(1). pp.1-8.