Reward Management Reward Management is concerned with the formulation and implementation of strategies and policies that aim to reward people fairly, equitably and consistently in accordance with their value to the organization (Deshpande, 2014) . Why Employee Recognition Matters From a very early age, we crave recognition from parents, teachers, and friends. So strong is our desire for positive affirmation, particularly during developmental periods, that we can even perceive a neutral reaction as a negative one. This continues to hold true as we move into the workplace. Employee recognition helps to: • Retain top talent • Increase employee engagement • Encourage high performance Basic Types of Reward (Alumni, 2014) Extrinsic rewards Satisfy basic needs: survival, security Pay, conditions, treatment Intrinsic rewards Satisfy higher needs: esteem, development Rewards by Individual, Team, Organisation · Individu...