REWARD MANAGEMENT IN HRM Reward Management WHAT IS REWARD MANAGEMENT? Reward management is like giving treats to a pet when it does something good. In a workplace, it is about giving employees rewards or bonuses when they do a good job or meet certain goals. These rewards can be things like extra money, promotions, or even just a pat on the back. Reward management helps motivate employees to work hard and do their best, which benefits both the employee and the company. Reward management involves designing and implementing systems to recognize and reward employees for their contributions and achievements in the workplace. It encompasses various incentives such as financial bonuses, promotions, recognition programs, or non-monetary rewards like extra time off or a certificate of appreciation. The goal of reward management is to motivate employees to perform at their best, increase job satisfaction, and enhance employee engagement. By aligning rewards with organizational goals and in...
