reward strategy

Reward strategy refers to the planned approach a company uses to recognize and motivate employees. It involves designing incentives, such as salary, bonuses, benefits, and recognition, to encourage desired behaviors and performance. The goal is to align individual efforts with organizational objectives, boost engagement, and retain talented staff. A well-crafted reward strategy considers fairness, competitiveness, and individual preferences, ensuring employees feel valued and motivated to contribute their best work. Ultimately, it helps create a positive work environment that supports both employee satisfaction and business success.