$20 Bonus + 25% OFF
Securing Higher Grades Costing Your Pocket? Book Your Assignment at The Lowest Price Now!

Holistic Reward Strategy To Retain Employees

tag 0 Download4 Pages / 962 Words tag Add in library Click this icon and make it bookmark in your library to refer it later. GOT IT


Write a Literature Review on Adopting a Holistic Reward Strategy to Retain Employees.


Literature Review    

In this era of globalization, organizations have realized the importance of employee retention. Today, organizations have expanded in different parts of the world and they fight together to get the best talent from the market. In fact, hiring the best talent from the market is just one part of the problem. The important or the key thing for organizations is to retain the employees (Suttapong & Srimai, 2014). It is important that the organizations must have a holistic and comprehensive reward strategy in place.

The employee retention would be high only when employees remain motivated. Some of the issues current day organization is facing is that all the departments are working in Silos with their individual objectives and there is often lack of synchronization between them and it results in excessive raw material or excessive food item and sometimes organization is also not able to fulfill the demand. In this case, motivation of employees is the key as motivation is directly linked to the productivity level of employees (Smit & Stanz, 2015).

Gilley & Gilley (2015) argued that holistic reward strategy for organizations is one that focused on various aspects. The financial remuneration or the salary is just one aspect of reward system. It is important that organizations must look for other aspects also. There are four pillars of holistic reward strategy. These are compensation, work environment, performance or recognition, and benefits.

It would be correct to say that the monetary compensation is the most important aspect of reward strategy. The component of compensation would include, the basic pay, the variable pay and the incentives. The compensation given by the organizations should be more than the industry average if they want to retain the employees. It is important that employees should be satisfied with their current compensation structure. The variable component of the salary should be offered based on the performance of the employees and not on the basis of tenure.


Taneja & Sewell (2015) argued that the workplace environment should be challenging for employees. The employees should feel that they are adding value to organizational growth and development. The employees should get a platform to feel new challenges at workplace every day. The bottom line is that the employees should not get bored with their work and organization. Another critical thing of workplace environment is autonomy. It is suggested that organizations and leaders should create a flexible and open culture. For example, flexible working hours, work from home, etc. facilities should be provided to employees to retain the best talent from the industry.

Yadav & Saxena (2015) argued that in an organizational setting, employees must have a clarity of their goals and objectives. In fact, employees would be able to perform better only when they understand their expectations. It can happen only with an effective performance management system is in place. The performance management system must focus on continuous reinforcement for employees and non-cash rewards. It is important that the high-performing employees should be recognized among the masses.

The benefit is the last pillar of a holistic reward strategy. It is the last pillar, yet an important pillar. The things under this pillar would include the benefits like health care benefits, insurance benefits, retirement benefits, etc. It is important that the organizations should create a balance of various benefits being offered to employees. With the benefits like pension plan and retirement plan employees are able to think from the long-term perspective and it increases the chances of employees remaining stick to the same company. It is suggested that the health benefits given to employees should also cover their immediate family members (Bellou & Chaniotakis, 2015).

It is recommended that the organizations must target to develop and implement the strategies that can increase the motivation level of employees. All the discussion leads to one thing that motivation level of employees could be the key lever of employee retention. Therefore, steps must be taken to increase employee motivation (Pereira & Malik, 2015). At the same time, the senior leaders of the organization should work to bring cultural changes in the organization to establish an inclusive and open culture based on trust, respect and freedom for employees. 

With the above discussion, it can be said that retention of employees is a challenge for organizations and leaders. The steps should be taken to increase the retention level of employees. It can happen only when organizations have strategy in place to keep employees motivated and committed.



Bellou, V., Chaniotakis, I., Kehagias, I. and Rigopoulou, I., 2015. Employer Brand of Choice: an employee perspective. Journal of Business Economics and Management, 16(6), pp.1201-1215.

Gilley, J.W., Gilley, A.M., Jackson, S.A. and Lawrence, H., 2015. Managerial practices and organizational conditions that encourage employee growth and development. Performance Improvement Quarterly, 28(3), pp.71-93.

Pereira, V., Malik, A. and Sharma, K., 2015. Colliding Employer?Employee Perspectives of Employee Turnover: Evidence from a Born?Global Industry. Thunderbird International Business Review.

Smit, W., Stanz, K. and Bussin, M., 2015. Retention preferences and the relationship between total rewards, perceived organisational support and perceived supervisor support: original research. SA Journal of Human Resource Management, 13(1), pp.1-13

Suttapong, K., Srimai, S. and Pitchayadol, P., 2014. Best practices for building high performance in human resource management. Global Business and Organizational Excellence, 33(2), pp.39-50.

Taneja, S., Sewell, S.S. and Odom, R.Y., 2015. A culture of employee engagement: A strategic perspective for global managers. Journal of Business Strategy, 36(3), pp.46-56.

Yadav, P. and Saxena, S., 2015. Interrelationship among Employee Retention Strategies Adopted by Corporate Sector: An Empirical Study. International Journal of Research in Management, Science & Technology (E-ISSN: 2321-3264) Vol, 3.

Download Sample

Get 100% money back after download, simply upload your unique content* of similar no. of pages or more. We verify your content and once successfully verified 100% value credited to your wallet within 7 days.

Upload Unique Document

Document Under Evaluation

Get Credits into Your Wallet

*The content must not be available online or in our existing Database to qualify as unique.

Cite This Work

To export a reference to this article please select a referencing stye below:

My Assignment Help. (2018). Holistic Reward Strategy To Retain Employees . Retrieved from

"Holistic Reward Strategy To Retain Employees ." My Assignment Help, 2018,

My Assignment Help (2018) Holistic Reward Strategy To Retain Employees [Online]. Available from:
[Accessed 06 July 2020].

My Assignment Help. 'Holistic Reward Strategy To Retain Employees ' (My Assignment Help, 2018) <> accessed 06 July 2020.

My Assignment Help. Holistic Reward Strategy To Retain Employees [Internet]. My Assignment Help. 2018 [cited 06 July 2020]. Available from:

For years now, is providing affordable essay help to millions of students worldwide. Our essay assistance services have helped us in assisting students with even the toughest essay assignments. We take pride in the fact that we cater the best assistance to search terms like help me with my essay. We offer affordable services in the fastest way possible. For our fast delivering services, students trust us with their urgent essay assignment needs. Two of our most popular essay writing services are maths essay help and English essay help.

Latest Management Samples

BEA111 Principles Of Economics For Opportunity Cost Per Tonne

Download : 0 | Pages : 4
  • Course Code: BEA111
  • University: University Of Tasmania
  • Country: Australia

Answer: Question 1 No country has an absolute advantage in producing cars as the car producing capacity is same for both the country. However, with regards to grain, it is apparent that by using the same amount of resources, the output for a Australian worker is higher in comparison with the Japanese worker. Hence, it would be apt to conclude that Australia has the absolute advantage in producing grain. The comparative advantage in producing g...

Read More arrow

ENEG20001 Climate Impact On Water Quality For Little Yarra River

Download : 0 | Pages : 23
  • Course Code: ENEG20001
  • University: CQ University
  • Country: Australia

Answer: Introduction Background of the Study There has been increase water demand on Little Yarra River at Yarra Junction due to increased agricultural and industrial activity and demand due to population growth. Climatic changes over the years have had an impact on the rivers’ water quality (Barua et al. 2013). The water quality statistics have been documented in excel and correlation done for analysis besides prediction has been d...

Read More arrow

RES800 Research Methods

Download : 0 | Pages : 9

Answer: Evaluation To The Relationship Between The Personality Of Leaders And Employee Motivation Introduction  Selection of research methods is a difficult part of a research and it must be done carefully based on the requirements of the project. Appropriate use of data collection and data analysis techniques help to generate a trustworthy outcome from the research. In this case, investigation will take place to evaluate the relationsh...

Read More arrow Tags: Australia Surry Hills 9 Research Methods International College of Management Sydney 

MIS171 Business Analytics For The Data Analysis And Visual Dashboard

Download : 0 | Pages : 9
  • Course Code: MIS171
  • University: Deakin Business School
  • Country: Australia

Answer: Introduction: Australia’s leading supermarket chains is “Supermart”. It was established 30 years age. There are 150 stores are present in the chain. After originating from a family-based chain of general stores, “Supermart” has stores in many states across Australia. For making the online purchase, the company introduced an online channel for stores to the consumers in some chosen suburbs of Australia. In...

Read More arrow

HUSE3006 Social Policy And Planning In Regional Contexts

Download : 0 | Pages : 8
  • Course Code: HUSE3006
  • University: The University Of Newcastle
  • Country: Australia

Answer: Introduction Disability is the way in which a group of people are restricted to daily activities this is from handling daily activities that concern physical, emotional and psychological activities. Disabilities majorly entail how individuals are curtailed to various activities that they are supposed to be en gaged in.  These activities involve operating and handling issues that pertains to physical wellbeing of individuals acros...

Read More arrow Tags: Australia social policy and planning in regional contexts The University of Newcastle 

Save Time & improve Grade

Just share Requriment and get customize Solution.

We will use e-mail only for:

arrow Communication regarding your orders

arrow To send you invoices, and other billing info

arrow To provide you with information of offers and other benefits




Overall Rating



Our Amazing Features


On Time Delivery

Our writers make sure that all orders are submitted, prior to the deadline.


Plagiarism Free Work

Using reliable plagiarism detection software, only provide customized 100 percent original papers.


24 X 7 Live Help

Feel free to contact our assignment writing services any time via phone, email or live chat.


Services For All Subjects

Our writers can provide you professional writing assistance on any subject at any level.


Best Price Guarantee

Our best price guarantee ensures that the features we offer cannot be matched by any of the competitors.

Our Experts

Assignment writing guide
student rating student rating student rating student rating student rating 5/5

285 Order Completed

99% Response Time

Eugene Baranowski

MBA in Supply Chain

London, United Kingdom

Hire Me
Assignment writing guide
student rating student rating student rating student rating student rating 5/5

1896 Order Completed

95% Response Time

Herman Berens

MSc in Psychology

London, United Kingdom

Hire Me
Assignment writing guide
student rating student rating student rating student rating student rating 5/5

529 Order Completed

95% Response Time

Ivan Blank

PhD in Functional Human Biology

Wellington, New Zealand

Hire Me
Assignment writing guide
student rating student rating student rating student rating student rating 5/5

203 Order Completed

97% Response Time

Richard Alpert

PhD in Psychology

London, United Kingdom

Hire Me

FREE Tools


Plagiarism Checker

Get all your documents checked for plagiarism or duplicacy with us.


Essay Typer

Get different kinds of essays typed in minutes with clicks.


GPA Calculator

Calculate your semester grades and cumulative GPa with our GPA Calculator.


Chemical Equation Balancer

Balance any chemical equation in minutes just by entering the formula.


Word Counter & Page Calculator

Calculate the number of words and number of pages of all your academic documents.

Refer Just 5 Friends to Earn More than $2000

Check your estimated earning as per your ability




Your Approx Earning

Live Review

Our Mission Client Satisfaction

Thank you for submitting this order in a timely manner, the work was of quality but for the future please do tell your expert to note all the requirements in the order. This is just a minor comment


User Id: 348179 - 06 Jul 2020


student rating student rating student rating student rating student rating

I got good feed back from my tutor, will great mark. I will recommend to this service to others


User Id: 370450 - 06 Jul 2020


student rating student rating student rating student rating student rating

I would like to know which is my thesis statement and what the argument is on this essay


User Id: 418392 - 06 Jul 2020


student rating student rating student rating student rating student rating

Accurate in time, excellent writing, I was stuck on that module and couldn\'t do it. Thankfully, MyAssignmentHelp exists and I gave them the task and completed the assignment on time. Thanks:)


User Id: 417440 - 06 Jul 2020


student rating student rating student rating student rating student rating
callback request mobile
Have any Query?