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THRIVE HR Strategic Playbook: The Total Rewards Framework

THRIVE HR Strategic Playbook: The Total Rewards Framework

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THRIVE HR Strategic Playbook: The Total Rewards Framework

Jennifer Carsen, JD

It can be tempting to think of total rewards as just pay and benefits. But that skates over the surface of a very deep pond. A total rewards framework means employment experience, coworker culture, company ethos, and so many other factors. So what do employees really want? How can employers give it to them?

Our playbook, The Total Rewards Framework, by Jennifer Carsen, JD, aims to thoroughly and completely answer that question.

This book provides practical guidance on everything related to total rewards, from effective compensation strategies to innovative benefits to perks and rewards—and how HR can combine them to retain and engage employees.

Dive into this book and take the first step towards total rewards success.

Table of Contents

  • Introduction
    • Total Rewards = The Total Package
    • Benefits of a Total Rewards Strategy
    • The Total Rewards Framework: Is It Right for Your Organization?
    • What Do Employees Really Want?
  • Chapter 1: Implementing a Total Rewards Framework
    • Look to Your Competition
    • Select the Right Strategy
    • Implement Deliberately and Well
    • Total Rewards Metrics
  • Chapter 2: Developing an Effective Compensation Strategy
    • Start with the Salary
    • Administration Policy
    • Smart Base Pay Design
    • Market Pricing and Salary Surveys
    • Market-Based Compensation
    • Salary Surveys
    • Market Pricing vs. Job Evaluation
    • Salary Increases
    • Delaying Performance Appraisals and Raises
    • How to Prepare Employees for Disappointing News
    • Training Managers About Pay
  • Chapter 3: Nonexempt Employees Under the New FLSA Rules
    • Misclassification Is Rampant
    • Basic FLSA Requirements for Overtime
    • Main Provisions of the Final
    • Overtime Regulations
    • Critics Push for Vacating or Phasing in Final Rule
    • Challenges for HR
  • Chapter 4: Variable Pay
    • A New Way of Looking at Employee Compensation
    • Factors to Consider
    • Types of Incentives
    • Incentive Pay Design: Each Organization Is Different
    • Pay-for-Performance
    • Watch Out for ‘Sandbagging’
    • Bonuses: A Different Animal
    • Non-Performance-Based Variable Pay
    • Legal Issues to Watch Out for with Variable Pay
    • Variable Pay Strategies for Success
  • Chapter 5: Benefits
    • Health Care
    • Retirement Savings
    • Disability Insurance/Long-Term Care
    • Life Insurance
    • Flexible Benefits / Cafeteria Plans
    • Child Care
    • Elder Care
    • Tuition Assistance
    • Relocation Assistance
    • Wellness Plans
    • Training
  • Chapter 6: Voluntary Benefits
    • Types of Voluntary Benefits
    • Voluntary Benefits Offer Many Advantages
    • Challenges You Might Encounter
    • Questions to Ask Before Implementing Voluntary Benefits
  • Chapter 7: Flexible Work Arrangements
    • Telecommuting
    • Flextime
    • Time Off
  • Chapter 8: Perks & Rewards
    • Employee Discounts
    • Social Activities
    • Don’t Forget to Train Managers on Recognition and Rewards Programs
    • The Importance of Building Your Brand
  • Chapter 9: Special Categories of Employees
    • Executives
    • Salespeople
    • High-Potential Employees (HIPOs)
    • Millennials
  • Chapter 10: Benefits Communication
    • Conclusion
  • Appendix A: BLR’s 2015 Perks and Insurance Survey
    Highlights of the 2015 Perks and Insurance Survey
    • Survey Participants
    • Employee Benefits and Perks Offered
    • Supplemental Insurance
    • Tuition Reimbursement
    • Telecommuting
    • Dress Codes
    • Insurance
    • Plan Options
    • Dependent Coverage
    • Plan Costs
    • Cost Containment
    • Endnotes