HUMAN RESOURCE MANAGEMENT PRACTICE - Fichier PDF

646 ❚ Rewarding peopleWhat should be happening What is happening What needs to be done1. A total reward approach is adoptedwhich emphasises the significance ofboth financial and non-financialrewards.2. Reward policies and practices aredeveloped within the framework of awell-articulated strategy which isdesigned to support the achievementof business objectives and meet theneeds of stakeholders.3. A job evaluation scheme is used whichproperly reflects the values of theorganisation, is up-to-date with regardto the jobs it covers and is nondiscriminatory.4. Equal pay issues are given seriousattention. This includes the conductof equal pay reviews which lead toaction.5. Market rates are tracked carefully sothat a competitive pay structure existswhich contributes to the attraction andretention of high quality people.6. Grade and pay structures are basedon job evaluation and market rateanalysis, appropriate to thecharacteristics and needs of theorganization and its employees,facilitate the management ofrelativities, provide scope for rewardingcontribution, clarify reward and careeropportunities, constructed logically,operate transparently and are easy tomanage and maintain.7. Contingent pay schemes rewardcontribution fairly and consistently,support the motivation of staff and thedevelopment of a performance culture,deliver the right messages about thevalues of the organization, contain aclear ‘line of sight’ betweencontribution and reward and are costeffective.8. Performance management processescontribute to performanceimprovement, people development andthe management of expectations,operate effectively throughout theorganization and are supported by linemanagers and staff.Figure 43.1 Areward gap analysis continued