Managing Employee Performance and Reward Systems, Practices and Prospects

Having laid out all the pieces of the performance and reward puzzle, it is time for us to consider how to go about assembling these elements into a coherent whole. In previous chapters, we have offered you some insights as to how the practices referred to in the chapter might support certain strategic priorities rather than others. In this chapter, we detail common approaches to assembling the various concepts, practices and strategies explored previously. In developing an integrated, strategically aligned and psychologically engaging performance and reward system, we need to remember that nothing is ever ‘finished’ and that change is the great constant. Accordingly, we examine the requirements for performance and reward system review, the steps involved in system change and development and challenges that may be encountered along the way. Although our approach here is primarily prescriptive in nature, we also draw on a range of insights from the research literature that has been referred to at various points throughout the book.