Remuneration and Reward System

Mahlet Wondimu

ISBN 10: 3659159131 / ISBN 13: 9783659159138

Published by LAP LAMBERT Academic Publishing Jun 2012, 2012

About this Item

Neuware -Rewards commune the value that organizations place on their employees. To convey the proper messages, remuneration objectives and strategies should be aligned with the overall business strategy of the organization. Knowing alignment will enable organizations to deliver the right type of rewards to the right people, at the right time, and for the right reasons. The best way the organization can deliver the correct reward, is to implement a total reward system together with a total pay system. Effective total pay system covers base pay, skills and competency pay, variable performance pay, recognition, and benefits. Total reward system cover investment in people, development and training, performance management, and career management. Therefore, to motivate and retain employees, and to improve organization¿s profitability, a right mix of total pay and total rewards should be made available to employees as employees¿ needs differ.Books on Demand GmbH, Überseering 33, 22297 Hamburg 112 pp. Englisch.

Seller Inventory # 9783659159138

Bibliographic Details

• Title: Remuneration and Reward System
• Publisher: LAP LAMBERT Academic Publishing Jun 2012
• Publication Date: 2012
• Language: English
• ISBN 10: 3659159131
• ISBN 13: 9783659159138
• Binding: Taschenbuch
• Condition: Neu

About this title

Synopsis

Rewards commune the value that organizations place on their employees. To convey the proper messages, remuneration objectives and strategies should be aligned with the overall business strategy of the organization. Knowing alignment will enable organizations to deliver the right type of rewards to the right people, at the right time, and for the right reasons. The best way the organization can deliver the correct reward, is to implement a total reward system together with a total pay system. Effective total pay system covers base pay, skills and competency pay, variable performance pay, recognition, and benefits. Total reward system cover investment in people, development and training, performance management, and career management. Therefore, to motivate and retain employees, and to improve organization’s profitability, a right mix of total pay and total rewards should be made available to employees as employees’ needs differ.

About the Author

EducationB.A. in Administrative Management and Technology Systems from Addis Ababa UniversityM.A. in Human Resource Management from Addis Ababa UniversityAnd member of Ethiopian IT Professionals Association (EITPA)