This report provides an in-depth analysis of strategic human resource management (SHRM) planning. It examines the significance of reward strategies, highlighting how they contribute to employee motivation and organizational productivity by offering both monetary and non-monetary benefits. The report also explores employer branding, emphasizing its role in attracting and retaining top talent in a competitive job market. It discusses how a strong employer brand can reduce recruitment costs and differentiate a company from its competitors, using examples like the Royal Bank of Canada and Westpac. The report covers the key areas of reward strategy, including cash compensation, employee benefits, personal growth, and a healthy work environment, and it emphasizes the importance of creating a positive employer brand to attract quality applicants. The report draws on various academic sources to support its arguments, providing a comprehensive overview of SHRM principles.
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