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This topic illustrates approaches to the development of a reward strategy. It explains what strategic reward is and what it can achieve. The topic outlines possible principles and aims of reward strategies; it explores the choices organisations might face and provides guidance on reward strategy implementation, monitoring and evaluation. In particular this topic examines the concept of strategic alignment or “fit” of reward practices using organisational examples. It also provides a case study which illustrates the step-by-step development of a reward strategy in practice.
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