Strategic Human Resource Management Essay Example | Topics and Well Written Essays - 3000 words - 3

Strategic Human Resource Management - Essay Exampleharmonize to the paperperformance link up pay system is considered as financial incentives offered to the employees, presenting high-level of performance and faculty in competing the assigned tasks and duties. As a result of presentation of these rewards, the level of motivation and inner skills of the employees enhances to a significant extent that increases its effectiveness. Therefore, due to the presentation of high-ended performance, the productivity and corporate image of the organization increases in the trade as compared to many other rival players. Along with this, the supremacy and ranking of the organization increases in the merchandise thereby reducing the threat of new entrants or substitute products. This is extremely essential for an organization to confine its portfolio in this competitive market for a long period of time.From this discussion it is clear thatperformance related pay systems or rewards are a sort o f incentives offered by the management to its employees in order to entertain them for longer period of time. By doing so, the level of productivity and profitability of the organization might get heighten resulting in amplification of its dominance in the market among others. It may be of two types such as monetary and non-monetary incentives.Monetary incentives are of varied types such as bonuses, incentives, pension schemes, profit sharing, team awards, ownership, gain-sharing, net profit supplements, improvement of job stabilities etc.