Total rewards strategy

Definition

A comprehensive approach to employee compensation integrating base salary, bonuses, benefits, equity, wellness programs, and non-monetary rewards. HR's way of saying 'we're paying you less than you're worth, but look at all this other stuff!'

Example Usage

Our total rewards strategy values the complete compensation package at 135% of base salary when including benefits, equity, and wellness.

Origin

Concept developed by WorldatWork (formerly ACA) in the 2000s as a holistic compensation framework

Fun Fact

Employees who understand their total rewards package report 24% higher satisfaction than those who only focus on base salary.

Source: Compensation strategy and HR planning

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