New CIPD guide to total reward

TOTAL REWARD

New CIPD guide to total reward

There was a time when an organisation's reward package was a pretty straightforward thing. But the era in which reward was just about cash and benefits is gone forever, according to new research undertaken by e-reward.co.uk on behalf of the Chartered Institute of Personnel and Development.

The CIPD study suggests that increasingly the emphasis in leading organisations is on a total reward approach, including more intangible rewards like the work environment and quality of life considerations, the opportunity for advancement and recognition, and flexible working - everything from telecommuting to variable hours.

Some of the most renowned reward experts on both sides of the Atlantic urge us to view reward more holistically, and they reckon the evolution towards a total reward approach has truly begun.

The thinking behind total reward

The essential idea is that we need to rethink what is and what is not reward. And your reward strategy needs to encompass all aspects of the employment deal if it is to add real value, enhance employee commitment and minimise the loss of your best people - and their intellectual capital and knowledge-based skills.

To do this, organisations first need to understand what their key employees value in order to feel motivated and engaged. In short, total reward seeks to match the needs of the company with those of its employees.

What you will find in this CIPD book

Across 76 pages, this guide includes chapters on:

Total reward defined: Offers a definition of total reward and a detailed overview of the concept.

Total reward models: Consultants and researchers have developed a plethora of total reward models. The models formulated by four leading organisations - WorldatWork, Hay Group, Schuster-Zingheim and Towers Perrin - are outlined.

Pressures for change: The main arguments for adopting a total reward approach.

Attractions of total reward strategies: Investigates the benefits businesses gain from taking a strategic approach to managing their total reward programmes.

Case studies: Learn first-hand from the practical experience of two pioneering organisations in the total reward field, the Financial Services Authority and AstraZeneca.

Want to know more?

Title: Total Reward, by Paul Thompson, e-reward.co.uk, published by the Chartered Institute of Personnel and Development.

Availability: You can order this CIPD guide on tel: 0870 800 3366, from business bookshops or via the CIPD web site at www.cipd.co.uk