Reward management is concerned with the financial provisions, both cash pay and other benefits, that are made to employees.
Rewards normally consist of two main elements: standard, or fixed, payments that are defined in the contract of employment, and additional , or variable, payments, which may be discretionary on the part of the employer.
Additional, or variable, payments are usually related to performance beyond that which is contractually required, or achievements above and beyond those defined in the contract of employment.
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