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Total Rewards Management (Factors Affecting Total Rewards Management in…
Total Rewards Management
Elements
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Benefits
Programs an employer uses to supplement the cash compensation E.g. Health insurance, Retirement programs etc.
Work-life
Specific set of organisational practices, policies and programs plus a philosophy, that actively supports efforts to help employees achieve success at both work and home E.g. Flexible Schedules, Wellness Programmes
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Objectives
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Retain
Employees may quit when total rewards are not competitive, resulting in staff higher turnover.Need to retain employees with good rewards
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