ABSTRACT
This chapter examines the role of reward in the process of retaining these assets. It starts by exploring the concept of salary bands and what level of reward should be paid to each type of performer. However, for the purposes of Effective Talent Management (ETM) there is a need for a more holistic approach that links reward, in its broadest sense, to the retention of strategically important assets, namely the members of the various talent pools within the organisation. Frederick Herzburg's research suggests that a good reward policy reduces as many of the dissatisfaction elements as possible, including pay, and increases the number of positive motivators, such as responsibility and freedom to act. David McClelland's research and associated theory focuses on specific drives that people report and demonstrate in their working lives.
