Please enable JavaScript.
Coggle requires JavaScript to display documents.
Introduction to Total Rewards Management (Factors Affecting Total Rewards…
Introduction to
Total Rewards Management
Evolution of Rewards
Pay
Compensation
Total Compensation
Total Rewards
Elements of Total Rewards
Compensation
Benefits
Worklife
Performance & Recognition
Development & Career Opportunities
Concept of
Total Rewards
Provides a framework for designing, implementing and assessing rewards packages.
Thorough understanding of orgnal culture, business strategies and HR strategies ensures alignment in devt of total rewards strategy.
An approach that emphasise the need to consider all aspects of work experience of value to employees.
A holistic view of rewards that looks at the entire reward system to determine how its elements can be integrated.
Objectives of
Total Rewards Approach
Attract
Motivate
Retain
Factors Affecting Total Rewards Mgt in Singapore
Company's Reward Policy
Company's Ability to Pay
National Wages Council (NWC) Recommendation
Union Influence
Legislation
Employee Needs
Equity
Internal Equity
Employee/Individual Equity
External Equity
Process Equity