HRM1B Unit 5

Financial and non-financial extrinsic rewards provided by an employer for the time, skills and effort made available by the employee fulfilling job requirements aimed at achieving organisational objectives.

Non-financial rewards inclusive of public recognition and commendations.

• Performance

• Membership

• Status

• Social

‘Total rewards’ should emphasize not only one’s salary, performance related payments and benefits, but also the provision of intrinsic rewards.

• True

• False

The feeling of fulfilment or enjoyment that a person derives from their job refers to job...

Total Compensation is important because...

• It attracts potential job applicants

• Retains bad employees

• Ensures that company finances are managed well

• All of the above

Old School Business strategies make use of sophisticated systems.

• True

• False

Total Compensation needs to take into consideration the organisation’s ability to pay, as well as the relevant legal regulations.

• True

• False