Human Resource Management: “rewards to attract and retain a diverse motivated workforce.”

Let us focus on the topic of “rewards to attract and retain a diverse motivated workforce” – by answering or reflecting on as many of the following sub-topics, questions or contents as you can 

1. What is an “effective reward” and how should it be administered? Are there pros and cons to rewards? Are there discriminatory practices in rewarding employees due to their gender, race, ethnicity, marital status, parental status, age, sexual orientation, etc.? Discuss.
2. What are some examples of managers / organizations that effectively use rewards to recruit and retain diverse talent? How are rewards being used in the modern workplace to recruit and retain diverse talent? Where would the relevant data about rewards come from and how should they be used?
3. Why are some managers / firms having difficulty in rewarding employees? Explain.
4. Recommendations: How can HR Professionals and more firms use rewards to attract and retain a diverse team of motivated employees?