1. A statement of intentions — the reward initiatives that it is proposed
should be taken.
2. A rationale — the reasons why the proposals are being made. The
rationale should make out the business case for the proposals, indicating how they will meet business needs and setting out the costs and
the benefits. It should also refer to any people issues that need to be
addressed and how the strategy will deal with them.
3. A plan — how, when and by whom the reward initiatives will be implemented. The plan should indicate what steps will need to be taken and
should take account of resource constraints and the need for communications, involvement and training. The priorities attached to each
element of the strategy should be indicated and a timetable for implementation should be drawn up. The plan should state who will be
responsible for the development and implementation of the strategy.
4. A definition of guiding principles — the values that it is believed should be
adopted in formulating and implementing the strategy.