Strategic reward management is the process of designing and administering rewards in a way that supports an organization’s strategic objectives. It can involve anything from cash bonuses to employee recognition programs, and it’s important to make sure that the rewards you offer are aligned with your company’s values and goals.
Strategic reward management is one of the most important aspects of any company. If employees are not properly rewarded for their work, they will become disgruntled and may look for other opportunities. On the other hand, if rewards are given in a strategic and thoughtful manner, employees will be more productive and feel appreciated. Following is a 7HR03 assignment example for CIPD Strategic Reward Management CIPD level 7.