Reward management involves designing strategies to fairly reward employees, aiming to attract, motivate, and retain them. It includes intrinsic rewards like job satisfaction and extrinsic rewards such as salary and bonuses, each with their own benefits and challenges. An effective reward system aligns organizational goals with employee needs, fostering a motivated workforce.

1. REWARD
MANAGEMENT
presentrd by : Nadiya Masood

2. Introduction to
Reward
Management
Reward management is the
process of designing and
implementing strategies to reward
employees fairly and consistently
in alignment with organizational
goals.
Objective: To attract,
motivate, and retain
employees.

3. Types of
Rewards
01.
02.
Intrinsic Rewards:
Non-monetary rewards
such as job satisfaction,
personal growth, and
recognition.
Extrinsic Rewards:
Monetary rewards
like salary, bonuses,
and benefits.

4. Monetary
Rewards
Examples: Benefits:
Salary,
bonuses,
incentives,
profit-sharing.
Increases
employee
satisfaction
and financial
security.
Challenges:
Can lead to
competition
rather than
collaboration
.

5. Non-Monetary
Rewards
Examples: Benefits:
Recognition,
flexible
working hours,
opportunities
for personal
growth.
Improves
employee
engagement,
fosters loyalty.
Challenges:
Harder to
measure and
standardize.

6. Designing an
Effective
Reward
System
Key Considerations:
Align with company goals.
Ensure fairness and transparency.
Cater to different employee needs and
preferences.
Involvement of Employees:
Getting employee input can improve
satisfaction with rewards.

7. Challenges in
Reward
Management
Equity and
Fairness:
Budget
Constraints:
Ensuring all
employees feel
equally valued.
Balancing
rewards with
financial
realities.
Retention vs.
Motivation:
Keeping long-
term
employees
motivated.

8. Conclusion
Reward management is essential for maintaining a
motivated and engaged workforce.
Final Thought: An effective reward system aligns
with both organizational objectives and employee
needs, fostering mutual growth.

9. ANY
QUESTIONS

10. THANK YOU
VERY MUCH!