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EMPLOYEE BENEFITS

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Employee benefits comprise of preparations made by employers for their employees that upgrade the latter’s prosperity. They are provided in addition to pay and form important parts of the aggregate reward package. As a major aspect of aggregate compensation, they may be conceded or dependent such as a  pension scheme, insurance cover or sick pay or they may be immediate, for example, an organization company car or a loan. Employee benefits include holidays and leave arrangements, which are not entirely remuneration. Benefits are sometimes referred to dismissively as 'advantages' or 'incidental benefits’, but when they provide food for individual security or individual needs they could hardly be portrayed as fringe’. Flexible benefit schemes give employees a choice, within limits, of the type of benefits offered to them by their employers. (Armstrong and Taylor, 2014)                      Source: www.study-aids.co.uk ...
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THE PRACTICE OF REWARD MANAGEMENT

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Reward management is concerned about the strategies , policies and practices required to guarantee that the estimation of individuals and the commitment they make to achieve organizational , departmental and team goals is perceived and rewarded . It is about the design , usage and maintenance of reward systems that aim to fulfill the needs of both the organization and its stakeholders and to operate fairly , equitably and consistently . Reward management manages non- financial rewards, for example, recognition , learning and development opportunities and expanded job responsibility and in addition financial rewards . (Armstrong and Taylor, 2014)                                                        Source: www.assignmentpoint.com Employees should be known about the relationship between how they perform and the rewards they ge...
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360–DEGREE FEEDBACK

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360-degree feedback, also named as multi-source assessment, this process in which somebody's performance is surveyed and feedback is given by various individuals who may be their manager, subordinates, colleagues and clients. Assessments appear as ratings against different performance measurements. The term '360-degree feedback’ is describe upward feedback where this is given by subordinates to their managers. This is the most widely recognized approach and is more properly portrayed as 180-degree feedback. This might be presented directly to individuals or to their managers. Expert counseling and coaching for individuals because of the feedback might be provided by a member from the HR department or an outside consultant. (Armstrong, 2009)                                        ...
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