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What is a Management Dashboard?
The term Management Dashboard defines a wide range of data reporting and visualization tools or dashboards that allow using various performance & efficiency measures to report on an enterprise’s ability to organize and coordinate its activities in accordance with certain policies and in achievement of pre-determined objectives. What is a Management Dashboard?
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Money Management Action Plan

In this Money Management Action Plan you can read a range of tips and suggestions that will help you manage your money in an effective manner.

Money Management Action Plan
Home » Glossary » What is Employee Reward
What is Employee Reward    

What is Employee Reward


Employee Reward is a monetary or non-monetary recognition that an organization provides to its employees in order to express appreciation for good performance or behavior. Employee reward is usually considered as a concept different from employee compensation (a regular salary), benefits (regular extra options for compensation) and appreciation (saying thanks for specific contribution), so employee reward is considered as a frequent systematic payment or any supportive action that is regulated by appropriate organizational program (sometimes rewards can be unsystematic: one-time bonuses, valuable gifts, or anything like this). 

A systematic approach to employee rewarding is a part of corporate strategy which stands for continual rising of the performance level for the whole company, a workgroup, a company unit, and individuals. It requires establishing an accurate system of employee performance monitoring. In a more advanced meaning employee rewarding combines the features of all other remuneration types: 

  • Employee recognition (results-oriented payment);
  • Appreciation (motivational action);
  • Benefits (regular option for extra earnings); 

The purposes of employee rewards are: 

  • Attracting, retaining and effectively rewarding qualified, talented and diligent employees;
  • Supporting exceptional performance and outstanding employee efforts;
  • Performance-related motivation of effective labour, self-education, mutual coaching, etc;

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