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Total Rewards Model
A Framework for Strategies to Attract, Motivate and Retain Employees
Dedicated to Knowledge Leadership in Total Rewards
During the past several years, the concept of total rewards has advanced considerably. Practitioners have experienced the power of leveraging multiple factors to attract, motivate and retain talent; high-performing companies realize that their proprietary total rewards programs allow them to excel in new ways. At the same time, human resource professionals, consulting firms, service providers and academic institutions have made significant contributions to our understanding of total rewards.
The WorldatWork Total Rewards Model
Reflects the maturity and power of the concept Depicts five elements that, collectively, comprise total rewards Provides the organizational and environmental context in which total rewards strategies and programs exist Articulates the desired outcome of attracting, motivating and retaining satisfied and engaged employees who create business performance and results Demonstrates the dynamic relationship between employees and employers— the employee’s contribution of time, talent and efforts for desired business results.
Total Rewards Strategy
Leveraging Five Elements to Attract, Motivate, Retain
• Work-Life • Performance and Recognition • Development and Career Opportunities
• Compensation • Benefits
As the association of the profession, WorldatWork presents this model to:
Represent the profession’s conceptual framework for total rewards Serve as a tool for practitioners to use with management in their own organizations Depict the official WorldatWork model of total rewards Serve as a foundation and guidepost for intellectual capital development in the profession Become a tool for academics, consultants and others to support their intellectual capital endeavors.
The Exchange Relationship...
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