This document discusses reward and recognition programs within HR. It begins by defining reward and the components of incentives and recognition. It then discusses current practices, with 45% of HR professionals having programs in place while 55% do not. Common challenges include insufficient communication and measuring impact. The document recommends leveraging tools to effectively manage programs and determine if objectives are being achieved. It argues that reward programs can achieve business goals like higher revenues and engage employees. Finally, it promotes defining a strategic reward approach that considers short, medium and long-term rewards.