BU354 Lecture Notes - Lecture 9: Job Analysis, Activist Shareholder, Adobe Freehand
Total employment rewards: integrated package of all rewards (monetary and non-monetary, extrinsic and intrinsic) gained by employees arising from their employment: encompass everything that employees value in the employment relationship. There are a variety of models to define the elements of total employee rewards. Worldatwork conceptualized the total rewards model within 3 categories: compensation (extrinsic) monetary, benefits (extrinsic, non-monetary rewards(intrinsic) Work experience category is further split into 3 parts resulting in five categories of total rewards: work-life programs, performance and recognition, development and career opportunities. The total rewards approach (vs. approach of managing different elements of compensation in isolation) came from the changing business environment. Tuition assistance, professional development, sabbaticals, coaching and mentoring opportunities, succession planning, and apprenticeships. Re(cid:449)ards progra(cid:373) effe(cid:272)ti(cid:448)e(cid:374)ess at the world"s most ad(cid:373)ired co(cid:373)pa(cid:374)ies. They also excel at communicating their business strategies to managers and employees. 1 | n a t a s h a p a r k.