Reflection Assignment 1.C.

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Please comment on your individual experience on whether total rewards is a viable concept or is it something
organizations have instituted to avoid concrete rewards.
In other words, what is your prediction about the concept of total rewards continuing as a sustainable rewards
mechanism? In addition to 'yes' 'no' kind of answer you need to elaborate on your views with pertinent
evidential statements. Include comments about where this concept (total rewards) will work well and where it
may not succeed.
I feel that the total reward is a viable concept. Total Rewards consists of all of the tools available to the
employer that may be used to attract, motivate and retain employees. Total rewards include everything
the employee perceives to be of value resulting from the employment relationship. Throughout history,
employers have been challenged with attracting, motivating and retaining employees. From the simplest
barter systems of centuries past to the current complex incentive formulas of today, the organizational
premise has been the same which is to provide productivity and results to our enterprise and we will
provide you with something of value.

Today there are five elements of total rewards, each of which includes programs, practices, elements and
dimensions that collectively define an organization's strategy to attract, motivate and retain employees.
The five elements are: Compensation, Benefits, Work-Life, Performance and Recognition, Development
and Career Opportunities. Total rewards strategy is the art of combining these five elements into tailored
packages designed to achieve optimal motivation. For a total rewards strategy to be successful, employees
must perceive monetary and non-monetary rewards as valuable. An effective total rewards strategy results
in satisfied, engaged and productive employees, who create desired business performance and results.
Hence I strongly believe that total rewards will continue as a sustainable rewards mechanism.

Source:
Martocchio, J. J. (2013). Strategic Compensation. Upper Saddle River: Prentice Hall.
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