TOTAL REWARD STRATEGY
The total reward system takes into account all the rewards that an organisation has to offer supporting its goals. However, most employers followed it as they were searching for tax savings. A closer look reveals that this strategy is widely held as not well communicated. Additionally, it is implemented while taking a biased side on the well earning male seniors as opposed to the low-earning junior females.
As a result, there is need for change in organizations’ reward system management.If an organisation can instil a culture that celebrates principles and values, then the bigger focus becomes the employees. This particular structure emphasizes on the performance quality regardless of the employees rank thus rewards and recognizes the truly deserving. Even though employees’ rewards are highly valued to the organisation, management also needs to take into consideration the employers that s efficiency.
Benchmarking has proved to be the best way to evaluate the reward system over the years. Nonetheless, the difference in data means that the HR management needs to incorporate to give meaningful information that will assist the reward system. With this information, the management can recognize the employee perceptions and motivations thereby investing in them for better corporate performance. Communication is paramount in the reward system of any organisation which reduces the view of inequity and ignorance. By being open about rewards, the management encourages opinions by the employees that turned out to be a success as proven by a fast foods company.
Transparency enables each party in the organisation to understand what is expected, how they can achieve this and what they get in return for services rendered.In conclusion, in as much as the total reward policy has existed for a longer period it can cause damage to the employees, employers and organisation as a whole. It is advisable for the employers to search for better systems that are more open and realistic. Additionally, the employers should consider searching and adopting systems that are …
