A reward and recognition strategy is a mechanism to provide a cohesive and consistent framework for managing pay, benefits and recognition practices. It supports the need for equity and transparency. It improves the quality, speed and effectiveness (and ultimately the cost) of decision-making in addressing specific reward related issues which arise over time. This section addresses:
- managing pay demands;
- reward management;
- performance related pay and bonus schemes;
- organisational benefits;
- recognition schemes.