How to follow a total reward approach
Author: Mark Childs
Click on any of the hyperlinks to go to more detailed guidance below.
- Understand what is meant by total reward.
- Gain insight into the concept of total reward in terms of the organisation's intentions and goals.
- Appreciate that there is not one standard definition of total reward, but that the key features of total reward are very similar, regardless of whose model is adopted or imitated.
- Be aware of the management theory that underpins total reward.
- Consider whether or not the organisation is likely to be receptive to the concept of total reward by evaluating whether or not it displays the essential preconditions to a successful introduction.
- Ensure that the total reward approach adopted takes account of all of the key elements.
- Ensure that the organisation is involving the right people in the project, both to ensure a successful, comprehensive design and to limit the risk that others will block the progress of total reward.
- Consider what is involved in implementation and how success will be measured.
- Identify the benefits of total reward to the organisation and its employees.
- Be realistic about what can be achieved and set realistic expectations.