Reward strategy and todays business climate Essay

Reward strategy and straight offs phone line climate - Essay ExampleThere are many types of retort strategies, which are completely assorted based on the unique environment in which the play along operates. For instance, if the organisation has prove that previous yield efforts such as the distribution of a company vehicle had found significant success in motivating senior-level executive performance, this would be something in future reward strategies which should not be amended. Another company which has found that various training and development packages have promoted better employee performance would want to consider these elements when redesigning a new reward strategy to meet modern business needs in todays economic climate. There is a significant linkage between cutting-costs and the HR function in todays businesses, with one part of business leadership attempting to retain talented workers by providing them with better reward compensation and the other part to ensure that long-term business strategy is achieved especially in basis of finance (Logan, 2009). One recent survey, the Reward Management Survey, conducted by the Chartered Institute of Personnel and Development, found that four out of 10 employers were expected to modify existing bonus and incentive policies in devote to recognise business value and reduce costs (Logan).