Which statement best describes the term "reward strategy"?
A) The means through which performance bonuses are paid.
B) The mix of rewards provided to organization members.
C) The means for recognizing outstanding achievement.
D) Identifies the key contextual variables for an organization.

Question

Quizplus · Accepted Answer

Reward strategy refers to the overall mix of rewards that an organization chooses to offer its members, including compensation, benefits, bonuses, recognition, and other forms of non-financial rewards. It is a key component of an organization's overall HR strategy, and it plays an important role in motivating and retaining employees. While performance bonuses and recognition may be elements of a reward strategy, they do not fully capture its scope and complexity. Option D is incorrect because it describes the concept of organizational context, which is not equivalent to reward strategy.

Which Statement Best Describes the Term "Reward Strategy