Critically assess the practical application of reward concepts and theories in the workplace

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Management Reward (Human Resources): CRITERIA FOR REWARD STRATEGY

QUESTION: In today’s business climate, rewards and recognition have become more important than ever (Nelson, 2014), critically evaluate this statement in the light of how it is impacting the overall management of reward and employee expectations of an organisation from a Strategic Point of view.

Make reference to relevant commentaries and concepts. Your bibliography does not count towards your word limit.

Assignment Structures:

1. Knowledge & Understanding: critical evaluation of their relative importance of employee motivation and strategic reward in the internal and external environmental context. (Contextualise the fit of reward management, policies and design within wider HR and corporate strategies. Critically assess the practical application of reward concepts and theories in the workplace.)
2. Argument - Analysis, Synthesis & Evaluation: Critical analysis of the performance and reward concepts within the overall pay structure and a critical evaluation of the contextual complexities and challenges associated with the successful management of reward practices and policies in contemporary organisations. (Evaluate the contribution that reward systems / options make towards meeting organisations’ corporate objectives.)
3. Awareness of Employer’s Needs Critical evaluation of conclusions and recommendations based upon logical, focused and sound judgement necessary to bring about successful implementation of reward policy choices (Employee expectations) (Critically evaluate the effectiveness of the legal framework within which reward management operates, making recommendations for change as appropriate. Critically assess the practical application of reward concepts and theories in the workplace)
4. Academic skills and competences Style and presentation of tasks (Requirement to demonstrate academic skills and competences)