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A Total Reward Strategy Should Include Five Components

April 1, 1995
Five components of a total reward strategy:

Direct Financial:

  • Base pay
  • Incentives
  • Ownership
  • Cash recognition

Indirect Financial:

  • Benefits
  • Non-cash recognition

Identification:

  • Organizational pride
  • Title, level
  • Work environment

Work Content:

  • Clear goals
  • Feedback
  • Challenge
  • Elbow room

Career Opportunities:

  • Growth
  • Development
  • Job security

SOURCE: Sibson & Company

Personnel Journal, April 1995, Vol. 74, No. 4, p. 33.