Human Resources Basics: Performance Rewards Methodologies
3 years ago
1
Human Resources Basics: Performance Rewards Methodologies
Generally, there are five pillars of a comprehensive rewards system: compensations, benefits, flexibility, performance recognition and career development.
A total rewards strategy is a system implemented by a business that provides monetary, beneficial and developmental rewards to employees who achieve specific business goals. The strategy combines compensation and benefits with personal growth opportunities inside a motivated work environment.
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