Reward Management

The key to Human Resources practices, especially in the dynamic world of hospitality, hotel, and events, is reward management. This chapter provides an understanding of the nature and purpose of reward management, and the types of rewards available, alongside motivational theories which underpin practices. Reward management is fundamentally concerned with creating and implementing plans to recognise and compensate staff members consistently and fairly. This process assists in retaining personnel, inspires employees to reach greater performance standards, and harmonises their aspirations with those of the company. In the hospitality, hotel, and event sectors where talent acquisition, motivation, and staff retention are paramount, reward management is one of the most important functions within human resource management.