Compensation and Incentives in Marketing: HRM Approaches to Motivating and Rewarding Marketing Teams

Abstract

Reward strategy is a contemporary reward management technique that managers and academics are using to a greater extent. To ensure that the motivation and Incentive plan functions flawlessly, it must be examined and refined over time, just like any other sophisticated HRM techniques and tactics. In this paper, the dimensionalities of the incentive approach which fluctuates at all moments have been collected via the pattern of periods and clarified. Management would obtain outstanding earnings for the firm they oversaw if they applied the incorporated reward plan appropriately. The plan will not just boost employee productivity and play a significant part in managerial choices, but it will also address current and future issues with compensation.