Page 195 - E1 Integrated Workbook STUDENT 2018

Appraisal, training and development, motivation and retention

3.2 Categories of employee rewards

Basic pay Benefits
 Minimum amount employee  A wide range of flexible

receives. rewards.

 Hourly rate or annual salary.  Examples include pension

schemes and company cars.
Four categories

Performance-related pay Share options

 Pay based on individual,  Often given to senior
team or organisational managers to motivate them
performance. to increase share price.

 Should be aligned to
achievement of SMART
objectives.

A total reward package draws together all the financial and non-
financial benefits available to employees.

Illustrations and further practice

Now try TYUs 3 and 4 from Chapter 14.

Read illustrations 3 to 8 from Chapter 14.

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