The Study Of Implementing Total Reward In Enterprise

As the rapid development of economy and maturing management,talents become the continual power to develop business.And the competition is fierce in every industry.Since the transparency of talent market is high,employee consider a job from different aspects,not only compensation or stability.Employer implements lots of solution to attract and retain employee which depends on the reasonable total remuneration strategy.When the compensation is used properly,it can motivate the employees.Otherwise,it will decrease the motivation of the employee,and even make higher turnover rate,lose the key talent,stock the development of the enterprise.Good total reward plan should be align with the strategic objectives of the organization’s development.Once the organization’s goals are set up,and the function of compensation can be determined which can help the organization develop towards the goal.In the economic downturn,HR can not only rely on fixed compensation strategy or short-term incentive strategy to attract talents and retain talents,but should focus on designing and managing a total reward strategy,in order to attract,retain and motivate talent,so as to promote the development of enterprises,to achieve organizational goals.In this paper,by explain the definition of total reward and the trends of talent market,analyze the features of total reward.Taking group A as an example,diagnosis the problem in human resource management currently.By design the policy of compensation and benefit to improve the management and find the proper total reward scheme.