Question

What role does the design of a total rewards strategy play in the firm achieving its strategic goals?

Answer 1

Strategic goals are very necessary to be fulfilled in the organization for high-rising business needs and maintaining the organizational process. The employee's always required giving the attention for stable maintaining of the strategic goals of the organization. Without meeting the strategic aspects of the business demands, needs, and effectiveness will not be fulfilled. The employees should be rewarded with various approaches so that they get the zeal and can perform the work effectively. The total rewards strategy is required to be enabled for the employees so that they can be positively boosted up and appreciated while performing their work. The reward should initiate with the motivation process and must keep the intention of employee retention by availing them all the facilities. The employee should be rewarded for fulfilling the targets with the incentives or a little hike in the salary; it will not only influence the mind of the employee but will high rise the fulfillment of the organizational strategic goals. If the employee attentions are given well with rewards and benefits they will start to attract towards the organization and will work effectively for delivering the high level of work performances that will boost up to meet up the strategic goals. Total rewards retain and motivate the employees to fit into the work environment with flexibility, the design should focus on sustaining with the total rewards as it will influence the employees to stick at a particular organization that is the most effective part for an organization. The more an employee will sustain into the organization, the work process will be much better and it can be expected the employee will maintain the stability in the work performances. Therefore, it is always necessary to design the total rewards strategy for the employees so that the firm can achieve the height of fulfilling strategic goals with its employees and the employees can also get the positive feeling for sustaining longer into an organization. Strategic goals can only be possible if the organization supports with the total reward system, and introduce several growing opportunities irrespective of career, and motivate maximum to the employees that will combine to work effectively and the desired goals can be fulfilled.