An Equitable Total Rewards Approach to Pay for Performance Management

In today’s competitive and global workplace, one of the strategies that successful companies use is having the ability to attract many qualified candidates, retain top talent, and maintain a highly motivated workforce. So what can an organization and managers do to attract, retain and motivate a talented workforce? Successful companies have various types of organizational reward programs that recognize and reinforce good employee performance. In this paper, the authors discuss that organizational rewards should strategically recognize good work habits and enhance the performance of each employee. This is a practice-based paper about performance management, reward systems, giving feedback, and recognition programs which should be strategically aligned with the organization’s values and objectives. The content is helpful for managers, human resource professionals and organizational leaders who are considering the implementation of various reward systems and pay programs.