Formulating and implementing strategies and policies to reward people fairly, equitably and consistently
Reward management refers to a company’s overall strategy for its payment and reward system for its employees. It encompasses salary, bonus pay, benefits, and performance management.
A clear reward system within a company also can help motivate existing employees to improve their performance. Positive recognition for their work can help improve both performance and morale in employees, leading to higher productivity.
At thinkPeople we offer a range of services to help you manage your reward.
Job evaluation and grading
Pay benchmarking
Compensation structuring
Employee satisfaction surveys