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Reward Management

Introduction:
“Reward Management has been defined as the distribution of monetary and non monetary rewards to employees in an effort to align the interests of the employees, the organization and its shareholders” D. Needham. In addition Needham suggests that reward management system can serve the purpose of attracting prospective job applicants, retaining valuable employees, motivating employees as well as assisting organization in achieving human resource, organizational objectives and obtaining competitive advantage. This is particularly important in competitive academic climate where colleges and universities are fighting for high - caliber employees in order to improve the quality of teaching and gain excellent reputation.

Performance related pay:
Remarque’s character in his romance “Arch of Triumph” quoted “although money does not bring happiness, they are extremely calming” hence while commitment to public service plays a role in attracting individuals into the profession, it cannot relay upon as a motivation for continued progress in quality and achievement. Frederick Taylor in his work “Taylor’s principles” advanced the view that employees are basically motivated by money. According to Taylor’s principals the achievement and contribution of staff would increase because each employee would recognize that a higher output rate would lead to higher pay. Basically Taylor’s principals support the use of performance – related pay which allows employees to receive bonuses depending on their ability to reach organizational target. (Armstrong 2002: pp57, 322). Merit pay relies on the power of incentives. Direct financial remuneration for academic and administrative achievement is a valuable motivational tool. Creating a more motivational and competitive salary scale will only further encourage teachers to educate students.

The logistics of the payment plans vary: teachers may receive salary increases from year to year or compensation per achieving...