Managing reward systems
Managing reward systems is a complex and demanding business. This chapter deals
with the subject in seven parts:
- Preparation and use of forecasts and budgets.
- Evaluating the reward system.
- Pay reviews.
- Control.
- Reward procedures.
- Responsibility for reward management.
- Communicating to employees.
REWARD BUDGETS AND FORECASTS
Reward budgets and forecasts are concerned with overall payroll costs and the costs
of general and individual pay increases.
Payroll budgets
Apayroll budget is a statement of the planned allocation and use of human resources
required to meet the objectives of the organization. It is usually a major part of the
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