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Rewards for Employees and Company Values
Strategic planning in nonprofit organizations is helpful in ensuring that the management can align the employees and agencys goals and objectives to be achieved. This approach further influences the way a reward system is designed in meeting the workforce needs. The systematic and continuous nature of strategic plans implies that the organizations will be in a position to adapt to their future endeavors. The process helps organizations anticipate and respond efficiently to dramatic changes that happen in the environment. Therefore, by implementing a strategic plan in nonprofit organizations, they are reflecting on their reality, which ultimately affects the design of their reward systems. All this is possible if the strategic plan is aligned with the pathway to success model that looks at rewarding employees in the organization (Eldenburg, Gaertner & Goodman, 2015). It is also worth noting that reward systems need to be designed alongside organizational strategies because they should align with the organizations objective and strategy. By doing this, the strategy will be helping the nonprofit organization to create its work culture.
The mission and values of the nonprofit organization directly connected to their compensation system because it is necessary to identify the goals and...…formulating compensation systems because leaders will look at the value that the employee is bringing to the company and what they deserved to be paid for their efforts. In contrast, the mission will guide the human resource personnel to identify the positions of the employees in question for the compensation system that needs to be developed. Therefore, executive directors and managers of nonprofit organizations will examine their compensation system and practice to help them align with their organizational goals, mission, and values. In turn, this will influence their decisions relating to base pay, non-monetary recognition, equity (internal and external) and the…
References
Eldenburg, L. G., Gaertner, F. B., & Goodman, T. H. (2015). The influence of ownership and compensation practices on charitable activities. Contemporary Accounting Research, 32(1), 169–192.
Goleman, D., Boyatzis, R. E., McKee, A. (2001). Primal leadership: The hidden driver of great performance. Retrieved from https://hbr.org/2001/12/primal-leadership-the-hidden-driver-of-great-performance/ar/1
Word, J. K., & Sowa, J. E. (2017). The nonprofit human resource management handbook: From theory to practice. New York, NY: Taylor & Francis.
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