Reward Management in HRM ABC Lanka Pvt)Ltd -Apparel Industry Ltd

According to the apparel industry ABC Lanka pvt ltd reward management system is aims to motivate and retain employees through a combination of monetary and non monetary incentives, including salaries, bonuses benefits and recognition programmes often tailored to production targets and performance. R ewards are transactional and have some monitory value attached to them. Reward management is about the development, implementation, Maintenance, Communication, and evaluation of reward processes. These processes deal with the assessment of relative job values the designs and management of pay structures, performance management the provision of employee benefits and pensions.   Here's a more detailed look at how reward management works in the apparel industry -ABC Lanka Pvt Ltd Types of rewards- Monitory Rewards Salaries : basic compensation for employees According to the organization paying salary each an every month before 4th of the month. Salary is banking to the employee individual...

Reward management in human resource management (HRM) is the process of designing and implementing a system to recognize and reward employees. The goal is to motivate and retain employees, and to align their efforts with the organization's goals. According to the ABC Lanka Pvt Ltd they have designed a system to evaluate the performance of employees. in our organization we are assessing an employee's job performance through the (KPI) key performance Indicator system and overall contribution providing feedback, identifying areas for improvement and recognizing accomplishment. Performance evaluation system can be identify as a financial recognition system for the employee which conducting by the organization in this systematic process company management assessing their employees level of performance and documenting it to evaluate at the end of financial year.   performance evaluation process used by the ABC Lanka Pvt Ltd to assess how well employees are performing their job rol...