1. STRATEGY IMPLEMENTATION - REWARD & DEVELOPMENT SYSTEMS

2. REWARD AND DEVELOPMENT SYSTEM Reward systems provide incentives and reinforcement for workforce behaviours that contribute to the implementation of strategies. Development systems provide the workforce skills required for implementation.

3. Strategy Oriented Performance Management system. Different approaches. MBO ( Management by Objectives) Narrative. BARS (Behaviorally anchored Rating Scale - leadership- how accomplished) BOS ( Behavioural Observation Scales-time management, quality, knowledge, waste management etc) 360 –Degree Feedback ( Feedback from Manager, subordinate and internal / external clients) Performance Evaluation of Executives ( different questions / opinions about effectiveness as they are responsible for all results) Effectiveness of performance Measurement- buy in of employees important. SMART Objectives: –Simple. ( equally understandable by manager and performer) –Measure able.( what to measure and how to measure parameters for measurement needs to be clear.) –Achieve able.- ( possibility of achievement based on resources, capacity, skills etc.) –Realistic. (not imaginary) –Time targeted. ( when to complete)

4. Strategically Oriented Compensation System Traditional Compensation System. –Job based pay systems incorporating job analysis, knowledge, skills, abilities. –Job evaluation based on compensable factors. – Different point based job evaluation systems like Hay method, IPE, Hybrid method etc. –Market salary survey based salary revisions. –Union negotiated compensation.

5. Strategically Oriented Compensation System Strategic focused compensation systems. –Skill / knowledge - Based Pay. Acquiring new skills / knowledge increase compensation, this is strong incentive for learning to meet challenges of rapid change of business environment. Also supportive for multi-skilling culture. –Broad banding. Broad salary ranges provide flexibility for salary increases of Hi Potential / Hi Performing employees staying in the same salary grades.

6. Strategically Oriented Compensation System Team based Pay. –Salary increases linked to team performance results. –Teams may be small within departments, at departmental level, site level, country level or divisional & company wide level. Variable compensation. –Two parts of salary –one fixed and other linked with performance results.like add on bonuses, sales incentives, commission, % of profit. etc. Executive compensation. –Most crucial strategic factor to support implementation of company strategy.

7. Employee Development Training programs. –Companies having investment perspective in human resources view training as long term opportunity to enhance employee productivity. –Also it is seen as solution to number of problems such as quality issues, skills & productivity deficiencies and avoiding shortage of required skills for future use. –For Strategic effectiveness, Training needs to be correctly identified, Right training program to be designed / identified, Process should be systematic and continuous.

8. Employee Development Training methods. –New employee orientation-buddy method for socialization. (selection of buddy is important) –Job Orientation. new assignments, new systems / processes. – coaching ( day to day feedback on by supervisor) –Mentoring ( teaching / monitoring / guiding tii competency achieved --driving) –Apprentice ship programs. Management development programs. –Developmental assignments locally / internationally. –Development Vs selection.

9. Thank you