Feb 09

One challenge facing every organization is compensation of employees. Following is Total Rewards Framework which provides a framework to look at compensation as a complete package.

 

Employment-Based

Performance-Based

 

Benefits & Services

Performance Rewards

Cash or Cash-Related

  • Health & welfare
  • Broad-based stock options
  • Tuition reimbursement
  • Child care / eldercare
  • Wellness programs
  • Base pay
  • Variable pay
  • Stock options
  • Spot rewards
  • Hiring bonuses
 

Workplace Opportunities

Performance Recognition

Noncash or Symbolic

  • Specialized training
  • Career development
  • Flex hours
  • Informal dress
  • Company events / parties
  • Promotions
  • Special assignments
  • Recognition “stars”
  • President’s Club
  • Recognition trips / tickets

 

Source: Wilson, T. B. (2003). Innovative reward systems for the changing workplace

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