Human Resource Management: Compensation
The essay should demonstrate that you have grasped the theoretical concepts of HRM, that you are able to interpret research in a critical manner, and that you can link theory with HRM practice. The essay should incorporate a minimum of eight (8) peer reviewed sources dated 1990 and later. The prescribed textbook may be referenced, but the essay must not use additional textbooks as references.
O’Neill (1995) notes the significant expense of remuneration to an organisation, yet also contends that “few companies have a clear statement of the philosophy and rationale underlying what it is they want their pay and benefits package to achieve” (p. 103). Kerr (1995) adds that often reward systems encourage unwanted behaviours while desired behaviours are not encouraged at all. Yet organisational success rests on the strategic link to its reward structure given that it impacts attraction, development, motivation and retention of individual employees (Huang & Kleiner, 2005).
In your essay, describe what is meant by a reward system, and describe the human resource management strategies you would implement to achieve an effective reward structure that will encourage enhanced performance of employees in an organisation.
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