Reward Management Report: Analysis of Techniques and Technologies

This report provides a comprehensive overview of reward management, exploring its significance in motivating employees and aligning individual contributions with organizational goals. It delves into various techniques such as job evaluation, job enlargement, and job enrichment, highlighting their roles in determining appropriate reward levels. The report further examines the impact of modern technologies like cloud technology, SaaS, big data, Oracle, and workforce simulation on streamlining reward processes and enhancing employee engagement. It emphasizes how these technologies facilitate efficient data management, performance tracking, and the creation of tailored reward systems. The report also includes an analysis of how these technologies are reshaping HR practices and contributing to improved organizational performance.

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Reward Management

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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.

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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

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(assignment point, 2018).
It is the procedure to access the value of the job in comparison to the other job in the
organization. There are few steps which can help user to inform the level of the reward which
is connected with the certain task (assignment point, 2018).
Gathering job analysis data
Firstly, complete and accurate information must be gather through a system of job analysis.
Selecting compensable factors
Compensable factors should be selected such as: skill, responsibility, and working condition.
Evaluating job using certain methods
The four fundamental methods should be evaluated.
Assigning pay to the job
This refers to the pricing pay structure. This practice needs a policy decision on in what way
the organisation’s pay stages relate to their participants (HR Zone, 2019).
Job enlargement and Job enrichment

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(C, 2019).
The job enlargement is a technique which us used for the semi-skilled and unskilled workers
for motivating and might be misinterpreted as overwork without a good hike in pay. Whereas,
the job enrichment is mainly concerned with the motivation of the skilled employees which is
usually taken as the reward (C, 2019).
Job analysis

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(Kleiman, 2019).
It is the point to point specification of the employee position, procedure and function. Job
analysis helps the employees of different stage to achieve the aim of the organization. It also
helps in identifying selection measures, such as the information, skills, and services (KSAs)
needed to achieve a job positively. The mangers and human resource can apply this
information to choose devices such as interview questions, tests. This type of approach is
legally required.

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Job analysis has an important role in the development of program which improve the
productivity. Various pay-for-performance databases provide rewards to workers who
achieve their employments at or above certain desired stage. Job analysis is used to classify
that level of presentation (Kleiman, 2019).
There are few more techniques such as job design, etc. which can help the organization in
allocating the level of reward which should be associated to certain tasks and roles.
Technologies
The technologies, which can be used by the employers to achieve the allocation with the level
of the reward for the particular goal and stages, are:
Cloud Technology & SaaS
When the company then the software like Xoxoday adopt the technology or the software like
SaaS, the company receives multiple rewards and gifts:
Some of the benefits for the employee are:
• Creating and Managing Operations
• Automated points improvement points reminder
• Real-time employee mood review
• Allocating reward budget
In the year 2019, the SaaS platform has created the platform for HR for creating a better
platform for the employees by giving various facilities such as (Cancian, 2013).
Awards for the different department:

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From marketing to the sales department, each department can take benefit from the SaaS
application. This help lowering down the complexity of work. This system is not only
beneficial to the particular department but it will be profitable for each department.
Recognition and Employees Engagement:
There will be a major impact on the implementation of this program. It helps in increasing
employee engagement with HR. This helps in giving the various benefits to the employee and
helps the company to keep a watch on employee performance. This overall result in huge
teamwork and peer recognition.
By the implementation of the SaaS program, only the engagement of the employees does not
increases but it also helps in solid engagement between the employees and employers.
Rewards in the method of acknowledgment, gifts and appraise, and additionally importantly
seeking and giving feedback.
The best method of engagement is rewarding the employees. Having an integrated system
like SaaS, allow employers to have an eye on the progress of workers and motivate them
more. A form of the reward can be said as the increase in the salary packages, gifting them
and other visions. Every business is adopting the SaaS program as this has resulted in the
improves performance of the employees. In fact, no slowdown in SaaS adoption has been
seen. Be it a network presentation or a native request, SaaS apps show an important role in
each department comprising the HR. Cloud-based presentations is unavoidable in today’s
organization atmosphere. Employee info can be archived and structured in a secure site
(Jones, 2017).
After the use of this platform, SaaS has helped the organization to get the ROI. Without
SaaS, the organization will be completely dissimilar that will be fruitful.

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Big data power organization
The two key fundamental aspects for every purpose and task are ensuring compliance and
avoiding risk. However, technology has changed the monotony by HR stages that digitize the
info HR wants (GalbRaith, 2014).
One such mechanical pattern is Big Data that is assisting HR experts with understanding their
clients, marketplace to target crowd gathering & speak with planned clients. At the fact when
coordinated with diverse advances, Big Data increases profound knowledge & allows HR
specialists to settle on varieties fuelled by fundamental data.
Enormous Data provides HR directors a reality-based viewpoint on the present staff and
causes them to identify rising patterns. In totalling, examination allows enrolment authorities
to review potential labours and let you settle on better danger the board choices.
This is also one of the most important technologies used by the company to effectively
complete the procedure of reward.
Oracle
Oracle's PeopleSoft Workforce Rewards delivers the tools which are needed to proactively
accomplish the company's compensation & retention rules. PeopleSoft Workforce Rewards
regulates the overall value of the company's compensation set and puts that info in the
background of the complete marketplace to help to build a modest compensation plan.
PeopleSoft Workforce Rewards will similarly identify the best and brightest staffs that can
help to retain the people in the organization needs in directive to be successful (Armstrong,
2011).
This technology helps in giving the benefits which are as follows:

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• This help in creating the incentive pay plan scenario to analyze the return on the project.
• Define compensation criteria eligibility groups & base and incentive salary rules.
• Help in designing the pay structure with incentive and normal pay.
• Maintenance Planning and Risk Assessment
• Track representatives who have basic aptitudes, speak to high advancement speculation or
show high potential for future improvement.
• Define hazard and execution evaluation manages and recognize high-turnover hazard
factors.
• Calculate potential expense and lost estimation of individual turnover.
• Import representative overview information, and afterward contrast this and data from
your PeopleSoft HR applications, money related administration applications, and other
heritage frameworks.
Workforce Simulation
Combine existing workforce information with projections about your association's workforce
development and decrease.
Input information as guidelines to make a recreated workforce for use in the Workforce
Rewards pay arranging and re-enactment apparatus (Acton, 2015).
Conclusion
From the above analysis, it can be, it can be concluded that there are various modern
techniques that have been adopted by the company to deal with the reward system and to

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enhance such reward system, various technologies, the company, which has been discussed
above, has used the software.
Bibliography