Total Reward

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Total reward:

the term adopted to describe a reward strategy that brings additional components such as learning and development, together with aspects of the working environment into the benefits package. It goes beyond standard remuneration by embracing the company culture, and is aimed at giving all employees a voice in the organisation , with the employer in return receiving an engaged employee performance’ (Richards and Hogg, 2007: 1)

Total Rewards: All of the tools available to the employer that may be used to attract, motivate and retain employees. Total rewards include everything the employee perceives to be of value resulting from the employment relationship. 

The concept of total rewards has advanced considerably. The power of total rewards is in leveraging the concept as a whole and the individual elements to attract, motivate and retain talent. There are five elements of total rewards, each of which includes programs, practices, elements and dimensions that collectively define an organization's strategy to attract, motivate and retain employees. These elements are: * Compensation

* Benefits
* Work-Life
* Performance and Recognition
* Development and Career Opportunities
The elements represent the "tool kit" from which an organization chooses to offer and align a value for both the organization and the employee. The elements are not mutually exclusive. Total rewards strategy involves the art of combining the five key elements into tailored packages designed to achieve optimal engagement. An effective total rewards strategy results in satisfied, engaged and productive employees, who create desired business performance and results. 作用:Effect function:

1, Ease the pressure on the company to increase management costs

A comprehensive total rewards program can reduce the costs of the company with regard to remuneration, to get rid of the lack of contact with the enterprise development factors point to...
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