To what extent might the integration of reward strategy, HR strategy and corporate strategy enhance organisational effectiveness and discuss how such integration could be achieved

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Reward strategy

Corporate strategy defines the market and the businesses in which a company will operate in , corporate strategy is decided in the content of defining the company 's mission and vision , that is , saying what the company does , why it exists and what it is intended to become

Corporate strategy presents the latest methodologies for developing and implementing strategies that work . Corporate strategy is for manages who are now or except to be involved with developing corporate , business or functional strategies

at their organization (Thrope Homan , 2000 . The levels of strategy are goals , policies , strategic or business plan is strategic decisions and programs . A policy is a plan of action to guide decisions and actions . The policy process includes the identification of different alternatives such as programs or spending priorities and choosing among them on the basis of the impact they will have

Reward strategy defines the intentions of the organization and how its reward policies and processes should be developed to meet business requirements (Armstrong , 2002 . Effective reward strategy is based on corporate values and beliefs , flows from the business strategy which gives the business the basis on which it will complete as it hinges on a company capabilities , strength and weakness in relation to market characteristics and corresponding strength and weakness of competitors The reward strategy is driven by business needs and fit business strategies , it align organization and indicates competencies , it is integrated with other personnel and development strategies , it provide the reward of results and behavior linked to business performance , it is adopting to the company strategy perspective , it is practical and implementable as it has to consult all key stakeholders in the organization and allow the participation of other employees in decision making . The aim of this is to ensure it support initiatives in resourcing of employees and overall goal development for organization performance

The content of a reward system is competitive pay , achieving a more equitable and definable pay system , using pay as a lever for performance improvement and culture change in an organization . Devolution of pay decision to line manages in the organization , developing teamwork increasing level of competence by training employees so as to acquire the relevant skills as well as involve participation of employees in the decision making in issues that affect them in the organization

The link between corporate strategy and human resource management is notable as it is easier to design change in organization than to achieve it . The difficulty is that the link between human resource structures and systems and business strategy as it is complex . The issue of human resource management is the need to identify some of the various ways in which human resource strategies and business strategies could inter-relate . It is the need to establish a close , two-way relationship between reward strategy or planning and human resource management strategies

Strategies human resource management as the enhancement of corporate strategy (Robin , 1999 . Different position between strategy and capability are numerous...