The Importance Of Reward Management

Globalization is a concept that encompasses change and competition. Organizations who want to survive in an intense competition and to develop themselves are required to produce different kinds of solutions (Gungor, 2011). Nowadays, in global crises, it is important to pay attention to change and the development of a system in business.

The most important factors to achieve profitability of a company are the human in the organization. The main management strategy of the organization is to invest in employees (Gungor, 2011). In other words, employee is the assets of the organization. Organization need to develop, motivate and increase the level of their employee in other to achieve the organization’s goals. Therefore, reward management is

It is one of the important roles of an employee. Reward can be defined as the formulation and implementations of strategies and policies that aim to reward people fairly, equitably and consistently in accordance with their value to the organization (David, Rajput, Khan, & Raghuwanshi, 2015)

As an employee engaging with the rules and policies of their organization, they need to obey and follow all the obligations of the company. As a result, company can gives reward based on this factor because their employees are obey with the company’s rules and regulation.

When we talk about employee satisfaction, there is a lot employee satisfaction that can be state such in term of condition of works, pay and benefit and the security of their work. This kind of factor may affect their enjoyed towards their work and may lead to the employee turnover.

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According to David (2015), it is important for a manager to provide recognition to their employees by having a good relationship with the employee’s family member. Moreover, “Operating procedures should be implemented fairly among employees” because it will lead to the employee’s motivational programs. David (2015) also stated that decision making should not only come from the upper management. The subordinates also should have participates in the decision making so that they feel a part of the organization. Fourthly, based on David (2015) extra benefits such as increments of pay and fringe benefits will help to motivate the employee’s motivation to work such as providing the accommodation. Lastly, David (2015) also highlighted that the manager should design the work and task for an employee more interesting such giving some relaxation time from