Total reward takes off
Faced with the need to cap salary bills in the current economic climate, UK employers are increasingly adopting the concept of total reward to help attract, retain and motivate staff.
Total reward combines the traditional pay and benefits elements of a reward package with the less tangible benefits of employment such as the opportunity to acquire skills and experience and to receive individual recognition, which traditionally have not been measured as a source of competitive advantage.
Also
A coherent approach to tackling staff turnover IRS Employment Review looks at the retention strategies that employers have put in place, including a focus on the use of total reward.
Case study: Hewlett Packard IRS Management Review profiles Hewlett Packard's use of total reward as a retention tool.
X-rated rewards Personnel Today's Simon Kent reports on how companies are replacing the traditional contract with concepts such as total reward, in order to win the loyalty of Generation X.