Total Rewards

Total Rewards Throughout history of organized work employers tint been challenged with attracting, motive and retaining top level talents. To maintain being free-enterprise(a) employers created a system that allow them retain top level talent. The get payoff strategy was intentional to reward employees for justice and commitment. gibe to Christofferson, J., & King, B. (2006), Total rewards involve the deliberate integration of quin winder elements that effectively attract, retain and motivate the talent unavoidable to carry out desired business settlements. The add reward strategies argon criteria make out forth by employers to determine guidelines to merit some(prenominal) financial and non monetary value for superior mathematical operation. The maintain destruction of the number reward program is to attract, motivate and retain employees. The advantages of a essential reward strategy Increase Profitability A amply engaged work force is actuate t o perform at the highest level. The total rewards plan is designed ca personas the manpower to overachieve. A motivated workforce is the main factor in driving up a phoners profitability. There ar 2 types of motivation, inwrought and extrinsic. Extrinsic Motivation -- Extrinsic motivation is almost a great deal associated with rewards that are tangible such as pay.

infixed Motivation -- appeals to the workforce sense of achievement, driven by an avocation and enjoyment of the result of performing at a high levels. Improved recruitment and Retention - An effective total reward system designed to promote employee retention and recruitment. Employers are challenged with at tracting retaining and motivating employees.! The implementation of a total reward system is a tool use to attract the best and bright talent on the market. rock-bottom Labour Costs/Cost of derangement There are clear links between frolic satisfaction and turnover. The be of turnover significantly affects the financial performance of the organization. A companys bottom line adversely...If you expect to get a full essay, order it on our website: OrderEssay.net

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