Total Rewards refers to a strategic portfolio of commitments employers deploy to attract, retain, and nurture a skilled, talented, and engaged workforce. The newly updated WorldatWork Total Rewards model illustrates this dynamic relationship, emphasizing the strategic elements of this exchange and how external and internal factors can shape an employee rewards strategy and impact its outcomes. Established as a standard for professional practice since 2000, the model is updated regularly to reflect macro changes in business, the workforce, and evolving practices in the Total Rewards profession.
A well-designed Total Rewards program leverages five strategic elements: compensation, benefits, well-being, careers, and recognition. These elements are proven to attract, motivate, and engage the right people organizations need to deliver meaningful results.
With our comprehensive Total Rewards Model guide: