MASTER OF BUSINESS ADMINISTRATION AWARDED BY NOTTINGHAM TRENT UNIVERSITY

ASSIGNMENT SUBMISSION FORM

Note: Students must attach this page to the front of the assignment before uploading to WECSERF. For uploading instructions please see the help file online Name of Student: Zubair Saleem Student Registration Number: KL102047

Module Name: Contemporary Issues In Human Resources Management Module Number: WEC-MBA-13-0506 Assignment Title: Evaluation and Analysis of Total Reward Policy Framework and its Components Submission Due Date: 28 February, 2010 Students Electronic Signature: Zubair Saleem

Plagiarism is to be treated seriously. Students caught plagiarizing, can be expelled from the programme

Assignment Form MBA Page 1 of Jan04 25

Table of Contents

Executive Summary . 1.0 2.0 Introduction. Organizational Background.. .. 2.1 Current Reward Strategy.. ..... 2.1 Total Reward Challenges Faced by Yunus Textile Mills 3.0 Literature Review 3.1 Reward Strategy.. 3.2 Key Components of Reward Policy in Real World Organization... 3.3 Total Reward Strategy Development Map.. 4.0 5.0 6.0 Recommendations... Conclusion... References...

03 04 07 08 10 12 12 15 18 20 22 23

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Executive Summary

Michael Porters logical taxonomy shown in 1980s that organizations have been facing competitive, volatile and changing environment globally. One of the challenges today is to manage, motivate, attract and retain employees to put their efforts for organization. Today most of the organizations have felt and accepted that Human effort (Employee participation) is the key factor behind the success of an organization. Most of the organizations have implemented a number of strategies for skill development and motivation. The question rises that why an employee will put his sincere efforts for the sake of organization success and not only for his incentives?

Organization today believes in Specific, Measurable, Achievable, Realistic and Timely (SMART) and that is only possible when organization employees are satisfied and motivated towards the achievement of organization goals. This is found to be achievable by accomplishment of different levels of need of employees at different levels from basic to social and then extreme needs through SMART Total reward Strategy.

In this piece of work we introduced the Total Rewards and total Reward strategy with its importance and uses followed by the background of our organization i.e. Yunus Textile Mills, its current Total Rewards priorities and Current Total Reward Strategies. Also we discussed some major challenges faced by Yunus Textile Mills which basically were found to be barriers in its current unsuccessful Reward Strategy mainly Market conditions and Government regulations on commercial assets.

This analysis was made on the basis of Total Rewards map and Strategy defined and described in the next section of Literature Review. In this section we gave a literature review of Total Reward Strategy and Total Reward Map and Framework which then leaded to my recommended seven step model of developing the total reward strategy and discussed how it is essential to solve the challenges faced by the organization. In the end we analyzed the myth of our whole assignment and its results in the section of conclusion.

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1.0 Introduction

Maslow, Vroom, Hertzberg and many others have researched to find the answer of this question and have came to conclusion that a human behavior follows his needs, mental capability and organizations need to know that how they have to motivate its Employees to understand that Employee performance and success is directly concerned with Organization performance and success. Motivational research and theories/models explained many of the components which directly effects employee performance, interest and organization success like motivating employees through explicit and clear goals, objectives and strategies. Human capital and Human Resources strategies include many components like processing of work, sharing of knowledge and managing workplace environment etc, while one of the other key components the Total Reward Strategy of the organization to attract, retain and manage performance of employees.

Total Reward Strategy and its framework are nowadays widely used to motivate employees, attract new employees/customers and building brand image of the organization as a competitive organization. Many organizations use a total reward approach when communicating the value of reward package to staff. Total Reward includes not only cash payments, such as salary, bonus and allowances, but also a range of other benefits, where these are enjoyed by the individual, such as annual and privilege holidays, maternity/paternity leave, employer pension contribution, childcare provision/vouchers, study leave, flexible working arrangements etc (Government Procurement Services (2009)).

Total Rewards is defined as a strategy that has three main components: compensation, benefits and the individuals work experience. Simply stated, it is a strategy that offers a balance of each of these components and, if implemented correctly, can assist companies in their struggle for finding and retaining top talent (Mary Mosqueda, 2008)

Corbridge and Pilbeam quotes Armstrong (1996) argument that Reward policy of an organization flows from its Philosophy and Strategy. While they define Philosophy as the broad values and beliefs that an organization holds about rewards and define strategy as

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(Indicating) the direction in which an organization wants to go in developing its reward processes and structures.

All the inventions and innovations need a need and the needs of reward strategy or drivers because of which Reward strategy was formulated and its desired results are shown in figure below.

Source: http://www.cabinetoffice.gov.uk/total_rewards

If we have a look at the big picture of philosophy of Total Rewards in the business markets, it has changed its whole myth with change in business thinking. Just like organizations followed Personnel Management in old paradigm and Human Resources Management in new paradigm, Total Reward values and beliefs are also being changed as given below for both eras. Broad Values and Beliefs of Total Rewards OLD PARADIGM 1. Cost Control 2. Job Centered 3. Collective Orientation 4. Clear Boundaries 5. Clear Relativity 6. Standardized/Transparent System NEW PARADIGM 1. Innovation/Change 2. Decision Centered 3. Individual Orientation 4. Flexible Boundaries 5. Pay for Performance 6. Fluid/Less Transparent System

Source: Self Made

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Here it is very important to follow the framework and strategy of Total Rewards with Strategic Human Resources Management (SHRM) instead of Human Resources Management (HRM). Where HRM is a narrow focused function of organization which mostly follows duration of less than 1 year and SHRM has a broad strategic focus. E.g. HRM practice of Selection has SHRM strategy focus on Talent Management or HRM practice of Remuneration has SHRM focus on Total Rewards Strategy etc (Dr Joanne, Jan 2010)

The organizations facing reward challenges are enormous, with a significant growth in demand for specialists able to deliver business-enhancing reward solutions. In this collaboration Michael Armstrong and Duncan Brown demonstrated that formulation of a reward strategy isnt enough, you have to make it happen. They profiled the potential benefits of strategic total rewards and described the new realism that is emerging, as organizations pay more attention to their employee motivation and communication in order to realize these benefits in real life practice.

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2.0

Organizational Background

Yunus Textile Mills Limited (YTM) is a vertically integrated textile mill is located in Karachi, Pakistan. A company with annual production capacity of 100 Million meters of fabric is the largest exporter of Home Textile products sector of Pakistan. In addition to manufacturing, YTM also provides its customers design and distribution services with offices based in USA, France, Spain, United Kingdom and Canada.

Company Vision Statement

Our vision is to be global retailers of fabrics, simultaneously publicizing our brands worldwide and identifying our social responsibility by engaging in a number of welfare activities, for the benefits of poor and needy people

Company Mission Statement

We are the Organization manufacturing, supplying and marketing our Bed and Bath fabric products globally. Our team will always work for customer satisfaction, its needs and future trends. We work for high performance and timely delivery with best services.

Yunus Textile Mills is a composite unit containing more than 4000 workers working in its different departments, having more than 200 weaving machines, 5 bleaching machines under bleaching department, 4 dyeing machines, 2 printing machines, 5 finishing machines and a wide range of stitching machines. Its yarn is coming from this groups another spinning mill, they manufacture fabric in Yunus weaving department, dyed, printed and finished in processing department and after finishing stitched in stitching department or sometimes only finished fabric is directly delivered to customers on their requirement.

HR matters and Reward strategies in most of the Textile companies along with this are so as called company secrets and all about pays, benefits to different levels of workers, rewards, expenditures, how much are their incentives, sales, benefits and losses from the production. But
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as I have been working in this organization for almost 3 years, so as a respondent I have known some facts and will evaluate its reward strategy on the basis of best of my knowledge.

2.1 Current Reward Strategy

Here we will look at the Total Reward Strategy of Yunus Textile Mills with reference to four main components of Total rewards i.e. Total Compensation, Benefits, Work life balance, Training and personal growth opportunities. Also after viewing these four major components, we will have a sight on challenges faced by the organization with regards to its Total Rewards Strategy. While for the literature review of these components please refer to section 4 of Literature Review.

Total Compensation

Total Compensation is basically based on two main components of Basic Pay and Incentives. Some of the facts to understand the total compensation given by Yunus Textile are that the basic pay of employees is though based on the level of knowledge and position provided but the payments made to the employees are all so called total pay and there are no any mentioned benefits. Therefore the total pay of employee is as termed as basic pay e.g. if one employee is being paid RM 1000 in the end of the month including all the salary benefits and incentives then the basic pay of the employee will also be termed as RM 1000. From this it is also cleared that there is no any incentive legally provided to the employees.

Though this is completely opposite to the labor laws of Pakistan but the reasons mentioned are to have a clear figure while these figures always remain inside the organization and due to some corrupt officers even employees are unable to take any action individually because there is no union concept in this organization.

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Benefits

Again going to the literature review we have different components of benefits preferred to be the 80% of total rewards provided by the organization. In this most of the components are intangible rewards except some indirect tangible like payments on paid leave.

Yunus Textile Mills provides a total annual leave of 14 days to its all employees which is less than that fixed by labor laws of Pakistan. While monthly employees are allowed to take 2 days leave so total is 14+24=38 days (this includes all medical, casual and holidays)

Work Life Balance

The third main component of Total Rewards is work life balance which provides an organization with tremendous flexibility and only modest indirect costs to the organization and flexibility to its employees to work effectively. Work life balance includes rewards like Flexible schedule, Job sharing, Child care, and fitness center etc.

Yunus Textile as we have already mentioned provides only 14 days annual leave and this leave includes all medical and emergency leave which is though less than the labor laws of Pakistan. While 2 days monthly is given as casual leave and all together is less than required. Also Yunus textile Mills doesnt provide any other flexi time etc and no any child birth or emergency leave as work life balance reward.

Career and Growth Opportunities

The final component of the total rewards focuses on training and development of the employees. As organizations struggle to ensure that they have the right number of people with the right SKA (Skills, Knowledge and Abilities) in their organization, they must continuously re-evaluate career growth and Training and Development (T&D) programs for its employees.

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It is imperative that companies create opportunities for employees to learn and grow their SKA in order to survive and compete in todays competitive environment and also to add value to the organizations overall success. All career growth and development programs should be integrated into the process of organizations performance evaluation to ensure appropriate alignment with the organizations strategic and corporate goals.

Yunus Textile Mills have no any internal and external official training and development programs offered to its employees except one particular department of Marketing which shows monopoly in the organization but it works sometimes as de-motivating factor for other department employees because only marketing department gets reward packages.

2.2 Total Reward Challenges Faced by Yunus Textile Mills

Organizations need to plan Total Rewards Strategy and Total Rewards Development map based on the corporate strategy, business strategy and people strategy of the organization. Total Rewards have a number of barriers or resisting factors that are discussed here as challenges for an organization to plan a successful Total Rewards Strategy.

New as well the existence employees always keep in sight the market conditions and pay scale outside the organization. Organizations need to make strategies to retain its employees by providing equal or higher reward packages and to motivate them to maintain its productivity and performance. Market research also proves that basic pay rates have barely reduced production due to frozen salaries, some have shelved their incentive plans a few have done both so what action is best in the current and future market. What will be necessary to keep your best people engaged and to work in favor of organization ROI? Variable performance based pay is also critical in a competitive economy.

Yunus Textile Mills have been following the market conditions and was providing higher salary packages until 2005 but when the management was changed, new way of reducing production was the old one. Reduction in increasing salaries and reduction of incentives to employees or in some conditions even since 2005 they kicked the employees out to reduce the production cost. A
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very typical and old way of managing while I was working there at the same time and there was no any liquid condition of company. Though they had to re-hire the same employees just after two months and paid them almost 50% more than before as an average.

This downsizing was held in start of January and almost 300 employees were out of job without any particular reason. But only to show government the worst condition in textile industry because of increase in gas prices. Yunus Textile Mills lost its brand image as the only company never fired any employee in its history of 11 years and now employees inside also were finding jobs and from my department where we were 80 employees, almost 20 found job somewhere else where they felt secure.

In most of the organizations financial incentives work more because they keep employees focused on what is needed for company success. The mechanism of government legislation has changed the course of long term incentives and executive market practices. This has lost the pace of global downhill race because of New Tax legislation and option plans.

According to Pakistan Labor laws the employees have to pay taxation on his annual basic salary which is dependant on earnings while the company who buys house or car or any other tangible assets for his organization to reward his employees, they have to pay the taxation of 20% as a commercial assets.

This makes Yunus Textile Mills to think very carefully while rewarding any of the employees with tangible assets. In Yunus Textile Mills even company dont show its actual number of employees and almost more than half are on contract basis who legally are not registered as employees of Yunus Textile Mills and they dont have any identification as employee of Yunus Textile Mills.

Therefore Yunus Textile Mills right now is facing these two main challenges while planning its reward strategy and its development.

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3.0 Literature Review All of the tools available to the employer that may be used to attract, motivate and retain employees. Total rewards include everything the employee perceives to be of value resulting from the employment relationship. (Worldatwork.com, 2006)

To understand the Total Reward concept and to support companys present and recommended Total Reward Strategy discussion we will look at some literature Review on Reward Strategy, Total Reward Development Map and the Framework of Total reward.

3.1 Reward Strategy

Innovation and change have been most focused areas of organization management and likewise the Total Reward has also achieved many changes and advancements. The concept of tangible rewards is no more alone component of Total Reward Strategy but intangible rewards have also shown positive results in organization success.

Practitioners have experienced the power of leveraging multiple factors to attract, motivate and retain talent; high-performing companies realize that their proprietary total rewards programs allow them to excel in new ways (WorldatWork,2007)

A HR consultancy named Mercer Principal David Conroy proves through a conversation with a HR director who stated that there is strategically and practically negative reaction on less rewards and salary rise, which he states as lack of strategic and long term policies of organization.

Need of Strategic Approach

The reward strategy is a motivational strategy for an organization but this strategy has to follow the organization goals and corporate strategy. While sometimes even because of liquidity conditions of organization, tangible rewards and remuneration can have delay. In this type of
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situation the same motivational strategy can work as de-motivating factor for employees and can have a great impact on employees.

Mostly in these conditions organizations need to have an alternative reward strategy to reduce the risk of de-motivating factors. Such as in this condition organization can focus on intangible rewards like mind building, career building or pay for performance strategies etc.

Strategic Lack

An analysis shown that 23% of the organizations had reward strategy in 2007, while not even half of those organizations used to measure the efficiency and most of them even were not able to show that how their reward strategy is going to achieve their objectives and how it is related to their corporate strategy. This analysis shows not only the strategic planning is important for the organization but with a nice plan you must also have a nice strategy to execute and follow up that plan strategically. The total Reward Strategy must follow the people strategy and business strategy while if we look at the main objectives of all these, they will include as compared in below figure.

How will you set & communicate performance objectives? How will you assess, then recognise & reward the contribution of your employees? How will you organise your workforce? How will you reward the employees? How will you provide for their development needs? " What will be your reward Priorities?

Total Reward Strategy

Source: Self Made

Business Strategy

People Strategy

What people capabilities will you require? What performance measures will explain their contribution? What will your high performance culture look like? Who are your key people how will you retain them? How will you develop & reward future leaders?

What do you want your future organisation to look like? What are your critical business drivers? What are the risks facing your business? How will you retain and grow customer loyalty? How will you achieve shareholder expectations? What measures will tell if you are successful?

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Clear Objectives

A Reward Strategy must be made on very clear objectives in order to avoid any un-strategic and de-motivating factor. This is because of time constrain which leads us to the change in conditions of organization due to other internal and external factors. An Organization is an entity and is never based on one factor and one strategic area. In liquid state of company in future, if HR has to reduce or stop practicing Reward strategy, this will be a de-motivating factor. Therefore the objectives of Reward strategy must be very clear which must follow the corporate strategy of the organization.

Employee Satisfaction

The basic and most important purpose of Reward strategy is to satisfy the employees, to make them feel secure and safe from all financial and cultural aspects. Therefore a Reward strategy must mainly focus on its impact on the employees that is Reward strategy is satisfying employees or not.

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3.2 Key Components of Reward Policy in Real World Organization

From Maslow to Jack Welch most of the business theorist and practitioners have focused on the employee satisfaction and accomplishment of his needs as required by his basic, social and cultural level of needs. Once the needs are satisfied, employee behavior towards organization is practically seemed to be performing and growing in workplace. Reward policy and strategy is also a key component of those motivational and satisfying components to make an employee feel that organization thinks about me and I am part of this organization. The key components of a reward policy itself are as given in figure which directly influence employee performance and behavior

Sourcehttp://www.cabinetoffice.gov.uk/workforcematters/pay_and_rewards/total_rewards/mode l.aspx

With the increasing number of baby boomers who are retiring in next five to seven years and birth rate of sixteen to twenty-four year old, the upcoming workforce crisis and challenging times will demand the organizations to actively take steps to ensure that they have the right talent in place at right direction. Organizations need to increase productivity and profitability, and leverage human capital to maintain its competitive advantage. To meet these challenges, regardless of industry and its size, organizations must adopt clear and compelling strategies and implementing a well thought-out total reward/compensation plan to attract, retain and motivate its present and upcoming staff.
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Many have presented different models to identify and define Total reward components as much easily they could and we will review here the total reward strategy integrated with key components introduced by Hay group. These key components are mainly divided into two main sections and are described as below.

Basically Total Reward strategy includes all financial as well non-financial rewards and direct or indirect rewards based on persuasive future, positive workplace, individual growth and total remuneration. Hay group model gives us a realistic methodology to set the total rewards and to understand the total reward components more easily. Hay group gives it in four steps for organizations to set their total rewards. First of all they must set their total cash then total direct compensation followed by total remuneration and in the end set the total rewards based on satisfaction of needs of its employees which flows from basic to social and then extreme.

Extrinsic Rewards

According to Hay group, 2007 Extrinsic Rewards are all those rewards to which we can assign a monetary value. Here we will be defining the key components of Total rewards presented by Hay group with reference to their basic definition and end result as given below. Extrinsic Rewards are mainly based on the Total Cash, Total Direct compensation and Total Remuneration given by organizations to its staff.

Total Cash

This model illustrates total cash comprising of two main rewards of Basic cash and Short term variables offered by organization to its employees. Where base cash includes basic salary or hourly wages of the employees and short term variables include annual incentives, bonuses and team awards. For example many of the organizations practice Pay for performance method and based on that they offer extra money or reward on increase in production and quality until a set limit.

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Total Direct Compensation

Hay Group defines total direct compensation by organization as long term rewards like Stock equity and performance shares. This is different from short term variables in the sense that short term variables are changed as per conditions of the organization while long term rewards are basic part of organizations corporate strategy.

Total Remuneration

Here Total Remuneration includes passive benefits and active benefits, where passive benefits include retirement, health, welfare and holiday rewards and active benefits include tangible benefits like car, house, discounts, memberships etc.

Intrinsic Rewards

After accomplishment of basic and social needs of employees, Hay group moves to employee motivation, and gives total reward components which defines as elements which contribute t internal value or motivation.

Total Rewards

According to Hay group Total Rewards include all the engagement factors and benefits offered by the organization like quality of work, work life balance, inspiration/values, enabling environment and career/growth opportunities which are highly motivational factors to lead an employee towards sincere effort for organization.

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3.3 Total Reward Strategy Development Map

Source: http://www.haygroup.com/nl/services/index.aspx?ID=10331

Hay group total Reward basically follows different steps and some of which are reversible. According to this model first of all organization should understand what total rewards an organization can offer to its employees based on the business strategy, people strategy and total reward strategy of the organization on one hand. While on other hand organization need to look at the needs of the organization itself and needs of its employees and their best way of accomplishment and in the last but not least the results of implementing this total reward model in the organization. If the results are positive and towards the development of the organization then organization will look for innovation while if not, the total reward components will be reviewed on the basis of all above components again and modify the strategy.

While Hay group defines the business strategy, people strategy and total rewards strategy as the engagement strategies for the employees and producing alignment in accomplishment of
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company needs. Employee needs and their accomplishment is based on the end results of this reward model which if is not positive, their must be change in the strategy to motivate employees and also the Return on investment is directly concerned to the end results as a calculating factor for the success of this total reward model.

Hay group could be design Total Reward programs programs that can help you in these ways: It helps to align the value of the total reward programs with individual performance and business performance and work culture also. This model provides a competitive and differential total reward packageand one reflective of the internal and external value of work. This model ensures that the external competitveness of the total reward program thats why the level and mix of remuneration is positioned against the right comparator group at the right levels. It also helps to develop reward programs that most effectively meet the motivational and retention needs of employees.

Hay Model ensures that employee have buy in and understanding new programs which in turn will increase employee commitment as well as also ensures line managers fully understand the programs and can lead in implementing them.

Hay Group works closely with key decision makers across your business including financial professionals to understand your business strategy business model key performance indicaters. Employee demographics and work culture, it will help us to examine your current remuneration program, and gauge the extent that aligns with the business strategy the HR strategy and the reward strategy. we will understand the economics and business priorities of your organization, we will conduct employee surveys to understand which reward program features deliver the most value to them. We will look at the messages that your reward program is giving around each elements and determine the extent that they align with reward strategy.

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4.0 Recommendations

The holistic approach of developing a Total Reward Strategy can have a very significant impact on human capital decision which leads to enhanced and improved business outcomes. Here are seven steps model to develop a successful Total Rewards Strategy for Yunus Textile Mills taking into consideration the human capital importance in the business context and corporate strategy.

1. Analysis of Issues/Challenges/Weaknesses

In the first step Yunus Textile Mills must analyze the conditions and factors effecting its Total Rewards Strategy internally (Organization goals, Performance criteria, Work force caliber, Behaviors, Attitudes and needs etc) and externally (Economic, geographies, political, and market position).

2. Setting Total Rewards Strategies

Yunus Textile Mills can develop guide principles for its total reward program which will guide the organization to develop its future reward program decisions and reward priorities. Guiding principles must include Cost effectiveness, Reward priorities, Competitiveness, flexibility, uniformity and performance limits.

3. Setting Total Reward Priorities

Where we are and where we want to go is a very important question in business and like wise desired state of Total Rewards is a guiding principle for organization to focus on its current and future conditions. We can also name it as Change Agenda which means what impact, cost, risk and feasibilities of specific rewards should be.

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4.

Overview of Implementation

After Total Reward priorities are set, Yunus Textile Mill can create and implementation plan along with the time constrain of individual plan, main communication activities and corporate considerations. To complete these major tasks, implementation plan must also include estimated budget.

5. Individual Plan Design

The individual plan is a mostly practiced exercise in most of the organizations while these individual plans must be aligned with the Total reward Strategy. With these individual plans organizations can have its reward goals creatively and proactively to support its corporate and broad objectives.

6. Implementation

During this stage organization need to integrate, communicate and manage that how, what, why and who will deliver the Total reward Strategies.

7. Evaluation and Control During this step, after implementation of Total Reward Strategy organization needs to focus the main objectives of Reward Strategy and conduct the overall results. As a part of ongoing monitoring process, organization can use core scoreboard approach to measure key workforce performance and reward metrics on a regular basis. The final outcome of whole this process will be a cohesive and comprehensive reward strategy that is both value-oriented and cost-effective and aligned with the organizations business strategy and will be able to enhance the performance of employees.

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5.0 Conclusion

From our analysis we have seen that Yunus Textile Mills is still following Personnel management techniques which only focused on business strategies and doesnt have any part for people strategy while through a number of researches and experiments it has been proved that those organizations which doesnt follow HR techniques can never be competitive for long time. Yunus Textile Mills is also facing same problem and since 2004 due to global crises and increase in petrol and gas prices and due to increase of 20% inflation rate of Pakistan, Yunus Textile mills have only one way to sustain and compete in global market. That is to retain and compete through SKA (Skills, Knowledge and Abilities) of its staff. After 2005 company has lost its brand image in its employees and staff is also not satisfied and due to this the % of wastage and carelessness of materials and work has increased while employee turnover is also not controlled until now.

This future focused performance management framework is very essential for many core Human Resources programs and not only for employee recognition and financial rewards. Once the right strategic measures are defined for Yunus Textile Mills, Organization can clearly explain what it expects from employees and how much employee can participate and put his efforts for organization success.

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References

1. Armstrong M & Duncan Brown, (2006), Strategic Rewards, Kogan Page Limited, London.

2. Boxall P. & Purcell J, (2003), Strategic human resource management,Edition 3rd Palgrave MacMillan, Basingstoke.

3. Boxall P. & Purcell J, (2003), Strategic human resource management, Palgrave MacMillan, Basingstoke.

4. Chris Bewster, 2009, Contemporary issues in Human Resource Management, 3rd Eddition. 5. Duncan Brown, (2001), Reward Strategies: From intent to impact, 1st edition, short Run press. 6. Duncan Brown, (2001), Reward Strategies: From intent to impact, 1st edition, short Run press, Exeter.

7. Kessler I, (1995), Human resource management: A critical text, International Thomson business press, London.

8. Lawler E, (1990), Strategic Pay, San Francisco, CA: Jossey Bass. 9. Michael Armstrong, (2007), Employee Reward Management and Practice, 2nd Edition, Kogan Page Limited, London. 10. Michael Armstrong, (2007), Employee Reward Management and Practice, 2nd Edition, Kogan Page Limited, London.

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11. Neal S, (1998), Phenomenon of Total Rewards, ACA, Journal, 7 (3) pp 18-23.

12. Pfeffer J, 1998, The Human Equation: Building profits by putting people first , Harvard Business School Press, Boston, MA

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14. Porter, Michael E. (1980). Competitive Strategy: Techniques for Analyzing Industries and Companies. Free. Press.

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16. Robertson IT & Smith M, (1985), Motivation and Job Design, IPM, London.

17. Stiles P, Gratton L &Truss C, (2001), Performance Management and the Psychological Contract: Human Resource Management Journal, 7(1), pp57-66.

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http://www.worldatwork.org/waw/aboutus/html/aboutus-whatis.html 20. Online, Retrieved on 27th January 2010, from www.HRDUonline.com. 21. Online, Retrieved on 9thth February 2010, from

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23. Online,

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