Management Consulting Approaches for
Performance Management Implementation Total Rewards System

Published in: Vol:9 No.3 / 2008

      Under the circumstances of knowledge-based economy, both new and old-economy companies currently have to rethink their reward strategies, as an essential component of the change process.

      This paper outlines the necessity of developing a new model with regard to “total reward” concept, in order to support and encourage more positive employee commitment without incurring open-ended operational costs.

      The development of “total reward” concept, containing both financial and non-financial rewards is the basis of constructing a Total Reward System within an organization. In order to implement a Total Reward System, there is necessary to follow a ten-step methodology.

      Also, the paper outlines the importance of the salary surveys in the Romanian context by analyzing the results of one of the most old salary surveys in Romania, carried out by Pricewaterhouse Coopers.

Pages: 90 - 105