Reinventing Talent Management

6REWARDING TALENT

The reward systems in most organizations do not focus on skills and competencies, business strategy, team and organization performance, or the differences that exist in the workforce with respect to what individuals want, need, and value. Instead they still follow a traditional bureaucratic model and are based on job evaluation systems, merit pay, and a fixed set of fringe benefits. These reward systems are usually the same for most or all hourly employees. Salaried workers, executives, and perhaps salespeople usually have plans that are based on job evaluations and include merit pay raises and benefits. In some organizations these plans include stock, profit sharing, and the giving of bonuses. Overall, however, most reward ...