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Strategic planning is the process of defining the future directions of an entity, be it organization, department or employee, by setting the goals and the means to achieve them. To ensure productivity, improve communication and deliver better business result, employee reward systems should be carefully aligned with the strategic objectives.
All three concepts are nowadays generally known and used within organizations. In this context the question that arises most often refers to which one of them is the most effective. A relevant aspect to take into consideration is that there currently is no best choice between these processes. Each one can be the most suitable choice for an employee, depending on the organizational strategy, departmental goals and individual targets.
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