C18HM
Lecture 7
Reward Management
, Aim
• Understand the concepts of Reward Management,
• Discuss methods of setting base pay rates,
• Discuss motivational aspects of reward,
• Critically evaluates performance related pay schemes,
• Introduce skills-based pay.
2
, Reward Management
“…is concerned with the formulation & implementation of
strategies & policies, the purposes of which are to reward
people fairly, equitably & consistently in accordance
with their value to the organisation & thus help the
organisation achieve its strategic goals”
(Armstrong 2006, p. 736)
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