Question

which of the following has been the least impactful with respect to changes in reward management strategies in recent years?
a)globalization
b) heightened competition
c)new technology
d)collective bargaining

Answer 1

New Technology has been the least impactful with respect to changes in Reward Management strategies in recent years.

What is reward management?

Reward Management is defined as the practice through which employees are getting rewarded in a fair and consistent manner so that no discrimination is to be done in terms of value in the organization.

Reward Management system depends on the following :-

• Globalization- With the increasing pace of Globalization, the reward system is getting better day by day which help people in enhancing their efficiency to work and thus having better productivity.

• Heightened Competition- Competition helped an organization to excel in the market. This also develop the sense of doing the business in a consumer suitable manner through which the utility of consumer can be satiated.

• Collective bargaining- People can negotiate in terms of their wages and working condition. This also support the system of reward management as in order to make employees work better, employer should give these as perks.

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