What is included in the Reward Form Combinations Strategy?

The Reward Form Combinations Strategy focuses on understanding how various types of rewards work together to positively influence employee motivation and performance. This approach acknowledges that employees are motivated not just by a single reward type, but by the combination of different reward forms, such as cash compensation, benefits, recognition, and development opportunities.

By examining the relationships between these different reward forms, organizations can create a more effective compensation strategy tailored to the diverse needs and preferences of their workforce. This consideration ensures that employees feel valued and incentivized, as opposed to just being compensated financially.

Implementing this strategy can lead to improved employee engagement, retention, and overall productivity, since a well-rounded approach to rewards can address both intrinsic and extrinsic motivations. Understanding how different reward forms complement and enhance each other helps HR professionals to make informed decisions in their compensation and benefits design.