A Closer Look...

Definition

Total rewards represents all of the tools available to the employer to attract, motivate and retain employees. This includes all forms of financial and non-financial returns that the employee perceives to be of value.

Basic objectives

The basic objective is to offer a system that is:

1. Compatible with the organization's mission, strategy and the corporate culture;
2. Appropriate for the workforce; and
3. Externally and internally equitable.

1. Compensation;
2. Benefits;
3. Work-life;
4. Performance and recognition; and
5. Development and career opportunities

A structured approach

Evaluating and structuring the five key elements to reward properly and work together can lead to a competitive advantage for a company. A structured approach begins with evaluating the company's mission, strategy and culture. Every organization is different. It's people are different and therefore, what motivates and rewards will be different. A total rewards evaluation will result in identifying employee value perceptions that can result in changes to total rewards and an increase in employee / potential employee satisfaction.

Our specific services

We can:

• Identify and map the organization's current rewards as perceived by employees, and what employees do not perceive as rewards
• Determine if the current rewards are compatible with the organization's mission, strategy, and culture?
• Develop / recommend changes to current rewards to better align with organizational objectives, and to improve employee recruiting, motivation, and retention
• Implement / improve employer communication of rewards