Assessment of reward strategy at URA
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The purpose of this study was to assess reward strategy in URA with specific focus on identifying the existing reward strategies in URA, the effectiveness of existing reward strategies, the challenges of existing reward strategies and possible solutions. The study employed a descriptive survey design and had a target population of 158 employees from the Corporate Service and Internal Audit departments in URA with a sample size of 113 respondents. The study used a random sampling technique which yielded a response rate of 94%. Descriptive statistics were analyzed for frequencies and percentages and data from the study are represented in tables. The study found that URA has a number of existing reward strategies with the most outstanding being; emphasizing the significance of both financial and non-financial rewards, developing reward policies and practices within the framework of a well-articulated strategy designed to support the achievement of business objectives and meet stakeholder needs, giving equal pay issues serious attention and making reward practices fair and commensurate to the work done.. The study still found that URA’s strategies are effective and thus add value to her employees. The study also revealed that URA achieves effectiveness of its reward strategies mainly through; taking steps to evaluate the effectiveness of its reward processes and practices to ensure they reflect changing needs, integrating reward strategy with the Human resource and business strategy and ensuring that its reward practices are fair and make a difference. The study revealed that the proposed challenges to be underlying URA’s reward strategy were found not to be the case as majority of respondents didn’t perceive them as challenges. They were rather optimistic that they understand the adopted reward practices of the organization and are engaged in them. The study further indicated that employees perceive URA’s reward practices to be stimulating, well communicated and cognizant of employee needs. The study concluded that URA’s reward practices are fair, consistent and commensurate to the work done. The study concluded that the adopted reward strategies emphasize the significance of both financial and non-financial rewards, equal pay issues are given serious attention and that market pay rates are carefully tracked so that a competitive pay structure exists. The study recommends that URA’s management should conduct regular refresher trainings for its employees about the organization’s reward strategies in order to bridge the knowledge gap on the same. The study also recommends that URA should benchmark competent organizations for better reward benefits like housing and fully paid study leaves. The study also recommends that a correlational study be undertaken in future to understand the relationship between reward strategy and other outcome variables like employee performance.