By Armstrong M.
A definitive textual content, this instruction manual offers assistance at the numerous techniques one could use in constructing and coping with present suggestions, rules, and procedures. This moment version has been thoroughly up-to-date to symbolize the most recent considering and perform on gift administration. It contains new study, new case stories, and new chapters on engagement and dedication, bonus schemes, lucrative wisdom staff, and the accountability for gift.
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Extra resources for A Handbook of Employee Reward Management and Practice
One of the recurring themes in this book is the importance of best ﬁt rather than best practice. Best ﬁt is what organizations have to strive for when formulating reward strategies, although, to a degree, ‘ﬁt’ can be forced upon them by the circumstances in which they operate and the type of people they employ. THE INTERNAL ENVIRONMENT Reward policy and practice will be affected by the characteristics of the organization with regard to its purpose, products and services, processes, sector (private, public, voluntary or not-for-proﬁt) and, importantly, culture, which is inﬂuenced by all the other characteristics.
Globalization As Ulrich (3) has pointed out, globalization requires organizations to move people, ideas, products and information around the world to meet local needs. Traditionally, discussions of international reward strategies and practices have tended to focus on an elite of expatriate workers, sourced from headquarter locations and rewarded in isolation from local country staff. We are now seeing a more diverse and complex The context of reward management 25 pattern emerging, requiring a much more strategic approach, as described in Chapter 26.
We are just getting to grips with the profound and detailed implications of a shift in our business strategy in the last two or three years. What Diageo calls its Organization and People Strategy has also necessarily been given greater clarity. It provides direction to our talent, operational effectiveness and performance and reward agendas. The company’s underlying thinking here is that the people strategy is not for the human resource function to own but is the responsibility of the whole organization, hence the title Organization and People Strategy.