Reward management

reward
Reward management is concerned with the formulation and implementation of strategies and policies that aim to reward people fairly, equitably and consistently in accordance with their value to the organization.wikipedia
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Remuneration

compensationemolumentemoluments
Reward management consists of analysing and controlling employee remuneration, compensation and all of the other benefits for the employees.
Remuneration is one component of reward management.

Employee benefits

benefitsemployee benefitperquisite
Reward management consists of analysing and controlling employee remuneration, compensation and all of the other benefits for the employees.
As such, it is one component of reward management.

Formulation

formulationsformulated
Reward management is concerned with the formulation and implementation of strategies and policies that aim to reward people fairly, equitably and consistently in accordance with their value to the organization.

Implementation

implementedimplementimplementing
Reward management is concerned with the formulation and implementation of strategies and policies that aim to reward people fairly, equitably and consistently in accordance with their value to the organization.

Strategy

strategicstrategiesStrategic thought
Reward management is concerned with the formulation and implementation of strategies and policies that aim to reward people fairly, equitably and consistently in accordance with their value to the organization.

Policy

policiespublic policypolicy making
Reward management is concerned with the formulation and implementation of strategies and policies that aim to reward people fairly, equitably and consistently in accordance with their value to the organization.

Wage

wageswage ratelabor costs
Reward management consists of analysing and controlling employee remuneration, compensation and all of the other benefits for the employees.

Management

managermanagersadministration
Reward management is a popular management topic.

Psychologist

psychologistsClinical psychologistresearch psychologist
Reward management was developed on the basis of psychologists' behavioral research.

Sigmund Freud

FreudFreudianSigmund
Psychologists started studying behavior in the early 1900s; one of the first psychologists to study behavior was Sigmund Freud and his work was called the Psychoanalytic Theory.

Psychoanalytic theory

psychoanalyticpsychoanalysisPsychoanalysts
Psychologists started studying behavior in the early 1900s; one of the first psychologists to study behavior was Sigmund Freud and his work was called the Psychoanalytic Theory.

Behaviorism

behavioristbehaviourismbehavior analysis
Many other behavioral psychologists improved and added onto his work.

Performance appraisal

performance evaluationappraisalevaluation form
From the company point of view instead, an effective performance appraisal has to be present, in order to let motivation be a major contributor to the rewarded performance.

Turnover (employment)

turnoveremployee turnoverstaff turnover
They serve to build a better employment deal, hold on to good employees and to reduce employee turnover.

Productivity

productiveproductivity growtheconomic productivity
The principal goal is to increase people's willingness to work in one's company, to enhance their productivity.

Gift card

gift cardsgift certificategift voucher
Gifts: Are considered short-term. Mainly presented as a token of appreciation for an achievement or obtaining an organizations desired goal. Any employee would appreciate a tangible matter that boosts their self-esteem for the reason of recognition and appreciation from the management. This type of reward basically provides a clear vision of the employee's correct path and motivates employee into stabilising or increasing their efforts to achieve higher returns and attainments. Monetary gifts, such as Gift cards are also more likely to be used for luxury purchases and can build an emotional bond with the organisation.

Content theory

Content theories endeavor to name and analyze the factors which motivate people to perform better and more efficiently while process theories concentrate on how different types of personal traits interfere and impact the human behavior.

Process theory

processcontent and processprocess theories
Content theories endeavor to name and analyze the factors which motivate people to perform better and more efficiently while process theories concentrate on how different types of personal traits interfere and impact the human behavior.

Maslow's hierarchy of needs

hierarchy of needsbasic needsself-actualization
A famous content theory would be Maslow's Hierarchy of Needs, and a famous process theory would be the equity theory.

Equity theory

equityequity concerns
A famous content theory would be Maslow's Hierarchy of Needs, and a famous process theory would be the equity theory.

Abraham Maslow

MaslowMaslow's hierarchy of human needsMaslownian
Perhaps the first and best known of these comes from the work of Abraham Maslow.

Frederick Herzberg

Herzberg
Frederick Herzberg’s motivator-hygiene theory, first published in 1959, argues that an employee's job satisfaction or dissatisfaction is influenced by two distinct sets of factors and also that satisfaction and dissatisfaction were not at opposite ends of the same continuum but instead needed to be measured separately.

Two-factor theory

two factor theorytwo-factor theory of motivationmotivator-hygiene
Frederick Herzberg’s motivator-hygiene theory, first published in 1959, argues that an employee's job satisfaction or dissatisfaction is influenced by two distinct sets of factors and also that satisfaction and dissatisfaction were not at opposite ends of the same continuum but instead needed to be measured separately.

Expectancy theory

expectancyexpectanciesoutcome expectancies
Expectancy theory is the theory which posits that we select our behaviour based on the desirability of expected outcomes of the action.

Victor Vroom

Vroom
It was most prominently used in a work context by Victor Vroom who sought to establish the relationship between performance, motivation and ability and expressed it as a multiplicative one – where performance equals motivation x ability.