A reward strategy describes how an organisation will use reward policies,
practices and processes to support the delivery of its business strategy.
Within it, every reward issue or initiative should be viewed through the prism
of how it helps the business.
While the reward strategy should support the overall business strategy,
it is likely to be explicitly linked to the HR strategy. It is integral to HR
strategy because it is mutually supportive of other strands such as talent
management, performance management, and learning and organisation
development, which themselves support business strategy.
This XpertHR “how to” guide looks at the steps that an employer should
follow to develop a reward strategy.