Reward And Performance Management Introduction HR Management

This chapter demonstrates the level to which human resource management has developed existing theoretical and practical issues surrounding the management of labour performance within modern organisations. A central element of these debates is the management of reward structures, strategies and systems. In this chapter we introduce the concept of reward(s) as a core function in the development of a strategic role for HR functionaries and offer some explanation of the objectives of current links to performance management.

The often heard comment across many organisations runs along the lines of ‘There’s only one reason we come here – the money’. Unsurprisingly, these comments reflect the nature of the employment relationship as a reward/effort bargain. Whether openly, covertly, personally or collectively, we all become involved in the resolution of this bargain at some time during our working life.

This chapter discusses how management have and continue to resolve their problem of converting the labour potential, obtained by their transactions in the labour market, into the labour performance they desire; simply securing the required effort levels without rewarding at levels detrimental to the generation of sufficient profit. In this sense we view reward as a core function for HR managers and rewards as composed of more than the mere ‘notes’ in the pay packet.

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