Human Resource Management

Assignment W1
Prepared by

Mohamed Hassan Abdellatif

HR 2025: Human resource management in the future (p 31 – 32 – 33)
What have we done? And by that I mean what have we done to ourselves, I
am talking rewards. Bonuses. Remuneration. Salaries
We still have a reliance on financial rewards for roles like highly paid professional
footballers, bankers to reference Dan Pink’s “Drive” – when you take the issue of money off
the table, performance incentives just don’t work that way.

Here’s the thing; I have it on good authority that many of our best paid executives simply do
NOT need any more money. They have all things that means more and more salary is just
not needed. But there will be a new framework for reward – especially at senior level but
right across the board.

A Corporate Philanthropic Index

Executives and high earners will not be published per their salary but a new form of
competitiveness and this will create a whole new PR and Talent attraction story for
companies. “The organization that gives the most”

Team Related Incentive Packages (TRIPs)

performance related pay benefits, regular finance and a whole heap of other rewards
– will relate to awards linked to collaborative efforts

Rewards will be vouchers, cash payments, Bitcoins the individual chooses in line with agreed
parameters.

It’s about rewards set for openness; set for more altruism , it’s not workplace socialism, it
is though fairness and organizational justice at work.

Leadership Recognition Incentive (LRI)

when a team sets their leaders “bonus” based on how well they feel they’ve been
managed , transparency, communication, involvement, empowerment, support, fairness,
firmness will all be rationalized into their own reward structure

Leadership is about effectiveness leading a team

A new era in rewards

It’s all been too focused on financial incentives based on delivery but not on behaviors.
Behaviors – not delivery – drove us into financial meltdown.

If we had the right behaviors, they may have compensated for our lack of skill in navigating
through a storm of financial cul-de-sacs.

More money does not always equate to feeling good or living well it is a cry for a better way
desire to see the spirit of humanity come through greed and for the conscience to come
back into incentives.