This is an important aspect of HR especially in a Current Scenario when talent engagement is very important and Reward management plays a vital role in it.

1. Reward Management

2. Balancing Reward Strategy

3. Components of Total Rewards
 Financial Rewards and Benefits
 Base Pay
 Contingent Pay ( for Performance or Contribution)
 Variable Pay (Cash bonuses)
 Share ownership
 Benefits
 Non Financial Rewards
 Recognition
 Responsibility
 Meaningful Work These arising from the
work and work environment
itself
 Autonomy
 Opportunity to use and develop skills
 Career Opportunities
 Work Life Balances

4. Factors Affecting Levels of Pay
 Factors Influencing Job Values
 Intrinsic Values
 Internal Organization Relativities.
 External Job Market Relativities.
 Inflation and Market movement
 Business or Financial circumstances

5. Rewards As Motivator
 In any work environment Rewards (both Financial
and Non Financial) can act as a motivator.
 Financial rewards:
 Effectiveness of money as a motivator.
 Reasons why people are satisfied or dissatisfied with their
rewards.
 Criteria which should be used when developing a financial
reward system.
 Non Financial rewards:
 Can be focused on the needs most people have although to
different degrees for achievement, recognition, responsibility,
influence and personal growth.

6. Reward Policies for New & genuine Start Ups
 Where to start:
 Attract and keep people anxious to make organization grow and
flourish.
 Reward the risk of coming into a new venture with high rewards and
generally a share in the business if the risk pays off.
 Provide a sensible basic salary that is reasonably competitive with
the market for most staff and highly competitive if rare skills have to
be brought in.
 Lock people to give business stability- with share schemes or profit
sharing for everyone.
 Make a LEAN organization until some “FAT” comes in the systems.
 Payout bonuses or provide non-cash rewards when key milestones
in the business plan are successfully achieved.
 Improve on office culture and ambience.

7. Diagnostic Check list
 Is there a clear and articulated link between reward
strategies and HR strategy on:
 Organization design.
 Recruitment : a reasonable attractive total package.
 Training: rewarding skills acquisition and use.
 Development: rewarding the behaviors or competencies
associated with good performance and continued learning.
 Performance Improvement.
 Effective team/group working.
 Promotion: rewarding the acceptance and successful delivery
of greater responsibilities.
 Reinforcing loyalty, integrity and commitment

8. Diagnostic Check list
 Is there a strategy for ongoing reward management
which :
 A. is based on organization’s:
 Mission and values.
 Culture.
 Current and future needs.
 B. Staff at all levels understand, at least in outline and believes to
be fair and rational.
 C. Provides for a flexible response when different parts of the
organization have different needs or face different pressures.

9. Diagnostic Check list
 What is the policy on levels of rewards,
 A) the chosen place in a well- defined, surveyed and comparable pay
market for different grades, levels and specialisms.
 B) the need to attract and retain high quality staff.
 C) the need for stability and sustained staff commitment?
 Is there a consistent method of progression pay,
according to:
 A) length of service.
 B) experience (how is this assessed?)
 C) performance or contribution
 D) competency acquisition and use;
 F) skill?

10. To have a detailed discussion
CONTACT:
NILESH KUMAR
+91-997181-1300
NILESHKUMAR25@GMAIL.COM