Reward Management in a Professional Organisation Essay
The keen analysis of history eyeshot salaries as the key factor to which an employee is attracted, bonuses and incentive scheme plans are destined to motivate them while other benefits and leverages are helpful in retaining their loyalty with the organisation (Dessler, 2003). These rewards were remunerated to the employees with the purpose to bring in their efforts, skills, abilities, knowledge and expertise that subsequently helped the organisation in achieving its vision and mission. Reward was considered to have three basic parts which include remuneration, perquisites and benefits. Remuneration were meant to deal with aspects like salary structures, job evaluation and incentive schemes, and perquisites used to cover the benefits provided to the discrete categories of the employees like private healthcare, company car or allowance, house rent and so on, while benefits were offered irrespective of the employee’s position in the company such as paid leave, free training courses or parties.
REWARD IN MODERN ERA In today’s modern era, it has been observed that individual are not only attracted towards the financial benefits only but they do have concern in getting non-financial