Key Trends of the Total Reward System in the 21st Century

doi:10.1177/0886368706292542

機構典藏 > College of Business and Management > Department of Management Sciences > Journal Article > Item 987654321/19764

Please use this identifier to cite or link to this item: https://tkuir.lib.tku.edu.tw/dspace/handle/987654321/19764

Title:	Key Trends of the Total Reward System in the 21st Century
Authors:	Chen, Hai-ming;Hsieh, Yi-hua
Contributors:	淡江大學經營決策學系;淡江大學會計學系
Keywords:	Competitive advantage;generic strategies;organizational life cycle;inventive reward
Date:	2006-11
Issue Date:	2013-06-07 10:34:44 (UTC+8)
Publisher:	Thousand Oaks: Sage Publications, Inc.
Abstract:	Purpose - Identifies the main trends within company remuneration systems, placing these in the context of strategic human resource management. Design/methodology/approach - Sets out the overall company factors that shape company remuneration systems. Lists the main trends that are affecting remuneration systems and discusses their implications for the design of future remuneration systems. Findings - Identifies six main trends - a trend away from linking pay to seniority and towards linking it to performance and contribution to the company; away from focusing on salary alone and towards including a portfolio of salary, benefits, non-cash rewards and other reward methods; away from only offering extrinsic motivation towards including intrinsic motivation; away from offering rewards at set times towards offering rewards when most appropriate and effective; away from offering a single, standard approach to remuneration and reward towards offering an approach that is more tailored to individual employees; and away from being a stand-alone system towards being linked to organizational goals and conditions. Sees these trends as bringing in a total rewards system that will have a direct effect on company performance. Purpose - Identifies the main trends within company remuneration systems, placing these in the context of strategic human resource management. Design/methodology/approach - Sets out the overall company factors that shape company remuneration systems. Lists the main trends that are affecting remuneration systems and discusses their implications for the design of future remuneration systems. Findings - Identifies six main trends - a trend away from linking pay to seniority and towards linking it to performance and contribution to the company; away from focusing on salary alone and towards including a portfolio of salary, benefits, non-cash rewards and other reward methods; away from only offering extrinsic motivation towards including intrinsic motivation; away from offering rewards at set times towards offering rewards when most appropriate and effective; away from offering a single, standard approach to remuneration and reward towards offering an approach that is more tailored to individual employees; and away from being a stand-alone system towards being linked to organizational goals and conditions. Sees these trends as bringing in a total rewards system that will have a direct effect on company performance.
Relation:	Compensation and Benefits Review 38(6), pp.64-70
DOI:	10.1177/0886368706292542
Appears in Collections:	[Department of Management Sciences] Journal Article [Graduate Institute & Department of Accounting] Journal Article

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