Purpose of reward systems - compensation management - Manu Melwin Joy

Purpose of reward systemsCompensation Management

Prepared By

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Manu Melwin JoyAssistant Professor

Ilahia School of Management Studies

Kerala, India.Phone – 9744551114

Mail – manu_melwinjoy@yahoo.com

Purpose of reward systems

• Svensson summarizes the

purpose of reward systems

in the following seven

points.– Stimulate to increase effectiveness.

– Stimulate to improve quality.

– Give increased responsibility and

influence over the individuals own work

situations.

Purpose of reward systems

• Svensson summarizes the

purpose of reward systems in

the following seven points.– Stimulate personnel movement

internally and externally.

– Stimulate competence development.

– Stimulate new work forms.

– Support flexible management and work

forms.