Rewards

In general sense reward meaning That which is given in return for good or evil done or received; esp., that which is offered or given in return for some service or attainment, as for excellence in studies, for the return of something lost, etc. Another meaning of reward is Compensation or remuneration for services; a sum of money paid or taken for doing, or forbearing to do, some act. If we talk with regard to service than reward means payment made in return for a service rendered

 

Rewarding employee performance and behavior is an important part of HRD. Appropriate rewards not only recognize and motive employees, but also communicate the organization’s values to the employees. In HRD systems, innovations and use of capabilities are rewarded in order to encourage the acquisition and application of positive attitude and skills. Typical rewards include certificated of appreciation, newsletter announcements, increase in salary bonuses, special privileges, and desired training.

 

Promotions are generally not considered as rewards because promotion decisions are based on appraisals of potential whereas most rewards are based on performance. Rewards may be given to individuals as well as to teams, departments, and other units within the organization.