10 ways to hit a total rewards home run

The process may take longer and cost more than anticipated, but HR maintains credibility when it stands behind its commitments
By Daphne Woolf
|CHRR, Report on Total Rewards|Last Updated: 01/31/2006

Are you considering adopting a total rewards strategy in your organization? Here are 10 ways to help ensure the total rewards program is the latest blockbuster to come out of the HR department.

Define it: Total rewards can mean different things to different people. In some cases, total rewards may include only cash-related compensation, such as base pay, short- and long-term incentives and stock options.

In other cases, total rewards may include the cash-related compensation plus the commuted value of the pension plan, benefit plan and other perquisites. Some employers include a definition that is even broader than that, adding training and development, the working climate and even job security.