Performance and Reward Management Assignment Example | Topics and Well Written Essays - 3000 words

Performance and reenforce Management - Assignment ExampleThe above issue is critically discussed in this paper. Reference is made peculiarly to the potential fall down of the payroll be without the corporate plans to be involveed. The reward practices, as a son of a bitch for supporting employee motivation, are analytically explained because of their high contribution in the increase of payroll costs. Particular strain is tending(p) on the problematic relations between the reward policies and practices since the above problems can negatively affect the payroll costs of faces. A series of studies related to the issues under discussion have been studied. It is made gull that the limitation of payroll costs, as a strategic target of firms in different industries, is feasible however, it is not clear whether the above finding involves in all organizations or whether there are organizations where the limitation of payroll costs is more difficult especially when the need for inc reased profits, even in the short verge is high and the limitation of payroll costs would negatively affect such effort. In any case, the decrease of payroll costs should be adopted by all organizations, which are interested in establishing a long-term growth. The use of specific strategies, as indicatively suggested below, could help these firms to be protected from failures in their plans, as a potential consequence of the limitation of payroll costs across their departments. 2. Reward policies role and forms In casual business practice, the term reward is used instead of the terms salary and wages (Cowling et al. 1998, p.173). In opposite words, the particular term is used in order to show all the potential benefits of an employee from his work in a specific organization. Moreover, the term reward can include both the monetary and the non-monetary benefits of employee in the body of work (Cowling et al. 1998, p.173). It should be noted that reward, as described previously, i s part of a greater framework, the reward system, which has specific anatomical structure and rules as explained below. Moreover, in the context described above, reward can affect the payroll system of for all(prenominal) one organization (which under these terms is considered equal to the reward system). For this reason, the evaluation of the potential limitation of the payroll costs of a particular organization requires the reference to the reward system of the specific organization. The reward system of each organization can be differentiated, in accordance with the organisational culture and goals but also with the resources in stock(predicate) for the realization of the relevant plans. In accordance with Armstrong (2007) the reward system established in modern organizations is promising to include a series of policies and practices, as for example a) a reward strategy including the future plans of the organization regarding the payroll of employees, b) a reward strategy th at refers to the terms on which the payment of employees in various organizational departments is based compared to the average salary of employments within the same industrial sector the particular strategy ineluctably to be based on the relevant provisions of the law referring both to the type of the reward given to each employee but also to the level of the reward, c) a reward practice referring to the techniques used for estimating the effectiveness of origin evaluation techniques as developed within the local or the international