HRM MODULE

 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...

  EMPLOYEE RETENTION Employee Retention INTRODUCTION Employee retention refers to an organization's ability to retain its employees and prevent them from leaving their positions. It involves implementing strategies and practices to encourage employees to stay with the company for an extended period of time. Employee retention is crucial for maintaining a stable workforce, reducing turnover costs, preserving institutional knowledge, and fostering a positive work environment. (Kieckhaefer , 2022)                                                                         What is Employee Retention EMPLOYEE RETENTION STRATEGIES Employee retention strategies are plans and actions implemented by organizations to encourage employees to stay with the company for longer periods of time. These strategies are designed ...

  BUILDING A POSITIVE ORGANIZATIONAL   CULTURE Positive Organizational Culture INTRODUCTION Creating a positive work culture means purposely influencing the way people in a company think and act. This is done to make the workplace feel friendly, fair, and inspiring. It's all about making employees feel like they belong, trust each other, and work together well. It's also about making sure the company's values match what each person believes in. (He, 2023)                                                                          Organizational Culture - Strategic Management HOW CAN WE DO IT? A positive organizational culture is characterized by several key elements. Clear Mission and Values- Employees understand the organization's purpose and values, and they feel connected to its mission. O...