A Critical Investigation Of Reward Management Post Covid - What do employees really want?

Abstract

The Covid-19 pandemic has necessitated a reevaluation of reward management strategies in workplaces worldwide, prompting organizations to adapt to the changing needs and expectations of their employees. Traditional approaches focusing solely on monetary compensation have proven insufficient in meeting the diverse requirements of the post-pandemic workforce. This research, conducted at King Faisal Specialist Hospital and Research Centre, delves into the evolving landscape of reward management, examining the shifts in organizational practices and employee preferences in response to the pandemic.

Key findings highlight the increasing importance placed on non-monetary rewards such as flexibility, work-life balance, recognition, career development, and support for health and well-being. Financial stability and security have emerged as critical considerations, alongside the prioritization of fair and competitive pay reflecting employees' contributions and market value. The transition to remote work has emphasized the significance of flexible work arrangements, with employees seeking options for work hours and locations.

Recognition and appreciation have become integral components of effective reward management, fostering a culture of appreciation that boosts morale and engagement. Career development opportunities have gained prominence, reflecting employees' heightened interest in professional growth and skill enhancement. Moreover, organizations are prioritizing comprehensive support for employee well-being, encompassing mental health resources, wellness programs, and initiatives promoting work-life balance.

The research addresses key questions regarding changes in reward management systems pre and post-Covid-19, employees' expectations regarding reward management, the influence of reward preferences on motivation, satisfaction, and performance, the effectiveness of current reward management strategies, and the implications of understanding employee expectations on organizational effectiveness and retention.

Employing a pragmatic research philosophy and quantitative surveys, the study explores employees' perspectives on reward management in the post-pandemic era. Rooted in social constructivist ontology, the research acknowledges the subjective nature of individuals' experiences while striving for objectivity. The findings aim to provide theoretical insights and practical solutions to enhance understanding of employees' desires in reward management post-pandemic, facilitating the creation of positive work environments conducive to employee well-being and organizational success.

In conclusion, this research underscores the imperative for organizations to adapt their reward management strategies to align with the evolving needs and preferences of their workforce in the post-pandemic era. By embracing flexibility, fairness, recognition, career development, and well-being support, organizations can cultivate an environment that enhances employee satisfaction, engagement, and retention, driving sustainable growth and success in the evolving workplace landscape.