WorldatWork is the world's leading not-for-profit professional association dedicated to knowledge leadership in total rewards, compensation, benefits, and work-life. Founded in 1955, WorldatWork focuses on human resources disciplines associated with attracting, motivating and retaining employees. Besides serving as the membership association of the professions, the WorldatWork family of organizations provides education, certification, publications, knowledge resources, surveys, conferences, research and networking.
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What is total rewards?
Total Rewards: All of the tools available to the employer that may be used to attract, motivate and retain employees. Total rewards include everything the employee perceives to be of value resulting from the employment relationship.
Throughout history, employers have been challenged with attracting, motivating and retaining employees. From the simplest barter systems of centuries past to the current complex incentive formulas of today, the organizational premise has been the same: Provide productivity and results to our enterprise and we will provide you with something of value.
There are five elements of total rewards, each of which includes programs, practices, elements and dimensions that collectively define an organization's strategy to attract, motivate and retain employees. These elements are:
- Compensation
- Benefits
- Work-Life
- Performance and Recognition
- Development and Career Opportunities
As the association representing the professions comprising total rewards, WorldatWork has served as a focal point for intellectual-capital development and dialogue about this topic.
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Executive Compensation
