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Chapter 4

Motivating Employees and Reward Management in SMEs


The section aims to:

  • To introduce motivation theories and types of motivation as the basis of reward management.
  • To explain the concept of reward management, its strategic and detailed aims and its philosophy.
  • To describe the processes and activities of reward management.
  • To identify the main differences between financial and non-financial reward systems and to outline the developments of reward strategies and principles of total reward and their uses in SMEs.
  • To provide an overview of reward and recognition practises in SMEs.


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Technical University in Liberec, Faculty of Economics