What is Total Rewards? An Introduction + Model [2023]

Why is total rewards important?
A Total Rewards strategy can help you become an employer of choice, motivate and retain employees, and boost business performance.
Welcome to Learning Bites! This is the video series for HR professionals who want to expand or refresh their Human Resources knowledge one bite at a time. In this episode, you'll learn about what total rewards is and get a real-life example of how other companies approach total rewards.
In this video we will explain how an effective Total Rewards strategy sets an organization apart from its competition. It will also engage employees and align rewards with what the organization is trying to achieve.
You will also find out:
- What total rewards is
- The AIHR total rewards model
- Six elements of total rewards
Watch the full video to learn how to set your own Total Rewards strategy by following the AIHR model.
TIMESTAMPS
00:48 - What is total rewards?
01:23 - The AIHR total rewards model
01:59 - Compensation
03:10 - Benefits
04:51 - Career Growth
06:17 - Personal Development
07:00 - Purpose and culture
08:45 - Holistic wellbeing
10:30 - Conclusion
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