Business Management -> Human resource management: recognition and reward
Recognition and reward
Recognition, reward and remuneration - the desired outcomes of the employment process for any employee. Employers must find a way to appropriately recognise, reward and remunerate their employees so that the employees continue their employment with the organisation and so that their performance is at the benchmark.
Recognition and rewards may take many forms as provided by an employer. They include:
- wages and salary - award and over-award payments
- fringe benefits - expense accounts, low cost loans, mortgage repayments
- non-monetary rewards e.g. office location, canteen facilities, motor vehicles, medical benefits
- commissions and performance based remuneration - stock issues, bonuses
- social based benefits
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