Hr Management Alignment

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The relationships among human capital, employment and human resource configurations. Journal of Management, 28, 517-543.

(2) Relationship between rewards and recruitment are not adequately discussed in each strategy. In order to be a success organisation in a dynamic business environment, the organisations must attract and retain high-potential staff through incentives and compensations with a talent management strategy , which is clearly aligned to the business’ objectives (Wilson and Malanowski 2002 ) .

In a competitive business environment, successful organizations are taking an approach to human resources management to ensure if their organizations are fully employed with the best talent in the industry who are enthusiastic to put their all capacity for the success of the business (Kaplan 2007).

Rewards and compensation packages are used in talent management strategy to strengthen the organizational value, which are significant to the human resource of the organization( Anku-Tsede and Kutin 2013). Reward and compensation packages can be used in every part of a talent managment strategy, from attracting individuals to an organization, through to employee retention and development ( Anku-Tsede and Kutin 2013).

A reward strategy can be persuaded by the method that business organizations acquire talent management ( Chen and Hsieh 2006 ). Some organizations will develop talent in all employees, while others will focus on high-potential staff and top performers. However, employers need some alignment and reliability between their talent management strategy and the messages they want to convey through their reward system( Chen and Hsieh 2006 ).

Reward plays a vital role in ensuring that an employer’s values and aspirations are communicated and conveyed through its employees(Hill and Tande 2006). For an employer to position reward effectively in a talent management strategy, the management must first consider the values that are important to the organisation and then shape a reward structure around this (Hill and Tande 2006). Reward can be used as a network to indicate to employees what the organisation is trying to achieve and what it needs from staff in terms of performance, skills, values and attitudes.

Moreover, employees can be motivated by both extrinsic and intrinsic factors. Extrinsic motivation is well known to employers (Samuel 2008). It relates to monetary compensation, such as private medical insurance or a company car, and is conventional part of HR budgeting and strategy. This standard approach to attracting and motivating staff is used by most organizations, but it only works to a certain circumstance.

What many organisations do not understand well is intrinsic motivation. In addition to monetary compensation, what really drives top talent is a sense of purpose, passion for meaningful work that can make a difference, the ability to learn, grow and develop in the workplace, and the opportunity to interact with interesting people (Hill and Tande 2006).

Wilson, T., and Malanowski, S., (2002 ) . Rewarding Group Performance: An Approach to Designing and Implementing Incentive Pay Program, published by WorldatWork, Scottsdale, AZ.

Kaplan, S. L. (2007). Business Strategy, People Strategy and Total Rewards. Benefits &Compensation Digest, 44(9), pp. 12-19.

Anku-Tsede, O. and Kutin, E. (2013). Total Reward Concept: A Key Motivational Tool for Corporate Ghana. Business and Economic Research, 3(2).

Chen, H. M., and Hsieh, Y. H. (2006). Key Trends of the Total Reward System in the 21st Century. Compensation and Benefits Review, 38(6), pp. 64-70.

Hill, B., and Tande, C. (2006). Total Rewards–the Employment Value Proposition. Workspan, 10, 19 – 22. Scottsdale, United States: WorldatWork Press.

Samuel, M. O. (2008). Using Motivational Strategy as Panacea for Employee Retention and Turnover in Selected Public and Private Sector Organizations in Eastern Cape Province of South Africa. Unpublished M.Sc. Thesis, University of