How Different Reward Strategies Are in Connection with General Human Resource

In: Business and Management

Submitted By cristina8
Words 3258
Pages 14
How different reward strategies are in connection with general Human Resource strategy and policies
In way to have a more clear concept about the connection among the all elements, it is important starting the analysis giving a definition of strategy and of the other elements to have an idea about what human resource strategy, policies and reward strategies are.
A strategy is the direction and scope of an organization over the long term, which ideally matches its resources to its changing environment. It is the direction in which the organization is going in relation to its environment and it must have a strategic objectives and a plan of action.
HR strategies sets out what the organization intends to do about the different aspects of its human resource management policies and practices in integration with the business strategy. The purpose is to guide the HRM (human resource management) development, it provides vision for the future actions required and how the vision should be realized: especially what need to be done and what needs to be changed. Human Resource strategies are vertically integrated with the business strategy contributing to business process, and it should plan with people in mind, taking into account the needs and aspirations of all members of the organization; it involves the formulation and the implementation of specific strategies in each area of HRM.
Generally there are two basic types of human resource strategies: the overarching strategies, so how people should be managed and developed, what the organization has to do in way to attract and retain people it needs through engagement, motivation and commitment. The second type are specific strategies related to different aspect of HRM, as rewards: so what the organization wants to do in the longer term to develop and implement reward policies, practices and processes that…...

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