Chapter 11
Ensuring a Competitive Total Rewards System
IN THIS CHAPTER
Clarifying your compensation philosophy
Understanding the key components of a total rewards system
Clarifying exempt versus nonexempt employee status
Evaluating pay raises, bonuses, and other incentives
Helping employees see the total rewards package
Early in my career, the first time I received a total rewards statement from my employer, I remember looking at it and thinking, “The benefits I get from this organization are worth how much?!” I knew that the organization offered competitive pay and benefits, learning and development opportunities, an ongoing performance management program, and more, but seeing all these benefits outlined so clearly as a total package had a big impact. It created an awareness of the total rewards package beyond my compensation, and up until that point, I hadn’t had visibility into the comprehensive nature of the benefits provided.
Communicating total rewards is an essential part ...
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