HRM107 Lecture Notes - Lecture 10: Distributive Justice
30 May 2018
School
Department
Course
Professor
Week 10 Strategic Rewards Management
Objectives
Attract - the right people, at the right time, for the right job
Retain - the best people by satisfying their work-related needs and reward
contributions
Develop - the required workforce capabilities by recognising and rewarding the
employees for knowledge, skill and ability
Motivate - employees to contribute to the best of their capabilities by recognising and
rewarding high individual and group contributions to meet objectives
Rewards and Business Strategy
- One size does not fit all
- Provide all legally mandated employee entitlements
- Tailor to the particular strategy of each organisation
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Document Summary
Attract - the right people, at the right time, for the right job. Retain - the best people by satisfying their work-related needs and reward contributions. Develop - the required workforce capabilities by recognising and rewarding the employees for knowledge, skill and ability. Motivate - employees to contribute to the best of their capabilities by recognising and rewarding high individual and group contributions to meet objectives. Tailor to the particular strategy of each organisation. Experiences of whether the expectations will be met. The theory is focused on outcomes not needs. Vroom, believes that in order for a person to be motivated, effort, performance and motivation must be linked. Associated to, but external from the job. Includes such benefits as superannuation, workers" compensation, paid leave. Enhances organisation"s ability to retain high-valued employees. Includes company cars, education, computers, phones, meals, mortgages. Can motivate employees to pursue one thing.
