Abstract
Reward systems are central to the Human Resource Management function. Their purpose is to attract talented individuals, motivate them, and retain those that have a better fit with the organization. Reward systems have a direct impact (and in most firms the most important one) on the cost side of the organization's financial statement. They are strategic as they influence people's attitudes, behavior, and performance. In this chapter we provide an overview of reward systems and their main components.
| Original language | English (US) |
|---|---|
| Title of host publication | Wiley Encyclopedia of Management |
| Publisher | Wiley |
| Pages | 1-6 |
| Number of pages | 6 |
| ISBN (Electronic) | 9781118785317 |
| ISBN (Print) | 9781119972518 |
| DOIs | |
| State | Published - Jan 1 2015 |
| Externally published | Yes |
Keywords
- compensation
- remuneration
- reward systems
- total rewards
ASJC Scopus subject areas
- General Economics, Econometrics and Finance
- General Business, Management and Accounting
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