Strategic Reward Management: Benefits, Strategies & Implementation

This presentation provides a comprehensive overview of strategic reward management, defining it as the development and implementation of reward strategies aligned with organizational goals. It highlights the key components of an effective reward strategy, emphasizing the importance of clearly defined goals, integrated reward programs, and supportive HR management. The presentation also discusses the priorities of strategic reward management, including fostering personal and team development, supporting a performance culture, and appreciating employees' contributions. It outlines different types of rewards (intrinsic and extrinsic) and the strategic steps involved in reward management, such as defining intentions, rationales, reward plans, and guiding principles. Furthermore, the presentation explores the links between intra-organizational factors and strategic reward management, including its alignment with business and cultural strategies. Examples of strategic reward strategies are provided, and the presentation concludes by recommending that organizations adopt effective reward strategies that add value to the business, reinforce core values, and enable employees to share in the organization's success. Desklib provides access to similar solved assignments and study resources for students.