You may already have a general understanding of how total compensation differs from a total rewards system, but sometimes, the terms are mistakenly interchanged. Here, we clear up any confusion between these two strategies and highlight the main differences between each.
Total rewards statements can be useful for communicating the comprehensive valuation of employment to your teams, but some organizations are choosing an even more powerful approach to drive engagement, retention, and improve overall business outcomes: a total rewards system. Unlike employee benefit statements, total reward systems are not just a once-yearly event. Instead, they take […]