Summary |
A company's reward and benefits system provides both the basis and the leverage to ensue that its core competences, as represented by its staff, meet these needs. An important aim of business strategy is to ensure that the company's resources match its future business opportunities. A resource-based strategy will focus on people as well as finance; and focusing on people means paying close attention to how they are rewarded and the benefits with which they are provided.
This audit covers the below steps-
1. Clarify the reward and benefits strategy
2. analyse the present arrangements
3. Develop policies
4. Design and maintain pay structure
5. Select individual or team contingent pay system
6. Relate reward to organizational performance
7. Develop benefits package
8. Manage the total reward and benefits system
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