EMPLOYEE RELATIONS AND REWARD MANAGEMENT

    What is Reward Management?                                Source :  https://images.app.goo.gl/WA4FSp1AgcFso7GVA According to Armstrong, reward management is the process of formulating and implementing strategies, policies, and practices that aim to reward people fairly, equitably, and consistently in accordance with their value to the organization. It involves designing and administering various forms of compensation, benefits, recognition, and other rewards to attract, retain, motivate, and engage employees while aligning their efforts with the organization's objectives.  (Armstrong, 2010) Reward management, a critical aspect of human resources, involves crafting and implementing strategies for employee rewards and incentives. Today, these rewards encompass a wide range, from salaries and bonuses to long-term incentives, forming a vital part of a company's human capital strategy. It ...

  What is Employee Recognition?                          Source :  https://www.freepik.com/free-photos-vectors/skilled-worker-recognition When an employee receives gratitude or acknowledgment for their efforts and achievements, it triggers a surge of dopamine, instantly making them feel valued and appreciative.  These instances of recognition have a transformative effect, not only on the individual but also on the entire organization, fostering a culture of appreciation and boosting morale. Sharing these moments with the entire team amplifies their impact, energizing and motivating employees while reinforcing a sense of shared purpose.  Recognizing employees, whether through kind words, rewards, or peer acknowledgment, is essential for driving workplace engagement, productivity, and retention. By infusing gratitude into company culture through consistent recognition, businesses can create a more inclusi...