Reward Management : A Progressive Reward System

2100 Words9 Pages
The aim of this appointment is use your experience and expertise in reward management to develop a progressive reward system that mitigates the risk of avoiding similar industrial action. You are expected to prepare a report that discusses the components of a reward system and recommends a progressive approach to the practice of reward management. You will be expected to justify your recommendations. Introduction Along with rapidly change of environment, the competition between organizations has increased and become drastic. For organization, maintaining the competitiveness in industry is base on talents and how to obtain and keep them in firm is a vital task to the organization. However, there was news about US fast-food workers strike over low wages in nationwide protests in December of 2013. It caught the attention to some organizations that had tried to imitate those fast-food companies’ business strategies. In this strike event, those protesters required to increase the standard of minimum wage in this fast-food industry. The reason why those workers appeal to increase their wages is that their salaries cannot afford their daily expenses. Due to this event, organization should pay significant attention on worker’s welfare and requirement, in order to meet the double win situation. Organization’s performance is based on and closely related to individual’s performance outcome, stimulating employee’s performances has become the effective factor of an organization.
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