- Title
- The evolution and future of total rewards as a remuneration strategy
- Creator
- Ducie, Yvonne
- Subject
- Compensation management
- Subject
- Performance awards Employee motivation
- Date Issued
- 2019
- Date
- 2019
- Type
- Thesis
- Type
- Masters
- Type
- MA
- Identifier
- http://hdl.handle.net/10948/42207
- Identifier
- vital:36635
- Description
- A total rewards framework plays a pivotal role in the attraction, engagement and retention of employees. The study firstly traces the history of reward and the factors that have led to the notion of a total rewards model. The study then sought to discover whether the current approach was optimal and therefore a desired strategy for the workplace of the future. Through the literary review, coupled with qualitative research with participants from well-known sizeable organisations, the research indicates that, whilst a competitive salary and benefits package is an essential factor in the employee cycle, and that pay does play a big role in the attraction of employees; once employed it is the non-financial factors that are paramount to the engagement and retention of employees. Insofar as employees believe their package is competitive and/or reflective of their contribution, they have the potential to be engaged. For that potential to be realised, it is the little things that matter to the employees that then come into force. Workplace culture, flexibility, career development, transparency, an alignment between the employee, the brand and the values of the organisation, are all vital in the engagement and retention of employees. In order for these factors to remain valued by employees, communication is essential. Manager interaction remains at the forefront of the employees’ experience at work. A positive interaction whereby coaching, development and the achievement of the little things that really matter, allow for a more productive and engaged employee, which ultimately improves the profitability and/or success of the business.
- Format
- x, 125 leaves
- Format
- Publisher
- Nelson Mandela University
- Publisher
- Faculty of Business and Economic Sciences
- Language
- English
- Rights
- Nelson Mandela University
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NMU School of Industrial Psychology and Human Resources
| Thumbnail | File | Description | Size | Format | |||
|---|---|---|---|---|---|---|---|
| View Details Download | SOURCE1 | Yvonne Ducie 215389875_MA The Evolution and Future of Total Rewards as a Remuneration Strategy_20.pdf | 1 MB | Adobe Acrobat PDF | View Details Download |