Developing a Reward Strategy that Delivers Shareholder and Employee Value

A detailed Summary of Developing a Reward Strategy that Delivers Shareholder and Employee Value

Today business faces the biggest and most difficult times ahead. With the ever changing moods and directions that business is taking almost daily, it is impossible to have a strategy set in place. There is no true "one way of doing things" and it is almost impossible to say that one strategy is the way to go. Knowing this the truly successful companies will be the ones who:

Are linked to their suppliers, Global, Cross-functional, Built around knowledge workers and organize with a capacity for continuos change. With these guidelines set in place it is important to realize how to gain a competitive advantage. This is accomplished by innovation in technology, speed to market and creating customer value.

Human Capital is the key to competitive advantage. It is only when the employee truly has his own goals set in motion that gives

It is important to consider rewards from a very broad perspective. Consider compensation, benefits, recognition, advancement, development opportunities, the nature of the work, status, working conditions, flexibility, balance, social interactions, and other factors.

An organization has various "levers" for developing Human Capital into competitive advantage as shown in Exhibit1. These must be properly integrated to work. Doing What has worked in the past will only lead to complacency. This figure demonstrates how to develop a working "culture". A culture designed to work faster, communicates more efficiently and gives a focused joint effort as a goal. Exhibit 2 presents a model for developing an integrated Hr approach to creating both shareholder and employee value

It is important to note here that you not only select links that lead to shareholder's values but the behaviors that drive value. The company needs to tailor measures to

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Approximate Word count = 636
Approximate Pages = 3 (250 words per page double spaced)

Category: Miscellaneous

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