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Strategic Reward Management: Compensation plans that support Corporate Strategy,Used
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Although resources like money and materials are paramount for achieving organizational goals and objectives, the value of employee commitment to the strategic direction of the organization cannot be underestimated. Various scholars have shown that many employees see their jobs as the source of a paycheque and little else. Others derive great pleasure from their jobs and association with coworkers. Even volunteers who donate their time to charitable organizations, such as Red Cross, walk away with rewards in the form of social recognition and pride of having given unselfishly of their time. Hence, the subject of organizational rewards includes, but goes far beyond, monetary compensation and is vital for creating a committed workforce to the strategic aim of any organisation.
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