Compensation CMS Chapter 1

5 Major Stakeholders
1. Societal
2. Stockholders
3. Managers
4. Employees
5. Global
Total Rewards
1. Relational Returns
  1. Recognition and Status
  2. Employment Security
  3. Challenging Work
  4. Learning Opportunities
2. Total Compensation
  1. Benefits
    1. Life, Health, Disability Insurance
    2. Work/Life Programs
    3. Allowances
  2. Cash Compensation
    1. Base Pay
    2. Merit/Cost of Living
    3. Short-Term Incentives
    4. Long Term Incentives
  3. Steps In Developing Total Strategy
    1. Assess Total Compensation Implications
    2. Decide on a Total Compensation Strategy
    3. Impliment Strategy
    4. ReAssess Fit
Strategic Policies
1. Internal Alignment
2. External Alignment
3. Employee Contributions
4. Management
Strategic objectives
1. Efficiency
  1. Improving performance, quality, satisfaction
  2. Control Labour Cost
2. Fairness
  1. Recognizing Employee Contributions
  2. Recognizing Employees Needs
3. Compliance
Pay Model

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