Creating a Total Rewards Strategy: A Toolkit for Designing Business-Based Plans

Operating an effective compensation program is not a static process. Reward plans need to grow and develop along with your business, reflecting both the changing needs of your employees and the evolving vision of your organization.

Creating a Total Rewards Strategy illustrates the key decisions that need to be made in designing or reconfiguring a total rewards strategy based on the key elements of “money, mix, and messages.” The book demonstrates step-by-step how to quantify and combine non-financial rewards—such as benefits, perks, training, mentor and recognition programs, and time off—with monetary measures to complement a company’s business strategy. Using stories from their combined 40 years of experience working with high-profile companies, authors Manas and Graham show how to link the design of a rewards plan to its total value and the message it conveys.

You’ll learn how to:

• Collect, organize, and evaluate information that will determine what type of benefits strategy your company requires
• Gain employee commitment through effective communication and implementation
• Sustain the effectiveness of your rewards strategy, and know when it’s time to reevaluate it

A total rewards strategy is an opportunity to motivate your workforce, send a message about your company’s values, and evaluate and expand upon the ways each of your employees contributes to the success of your organization. Creating a Total Reward Strategy is an essential resource for designing a complete rewards program that will benefit not only employees, but the organization itself.

About the Authors

Todd M. Manas and Michael Dennis Graham have worked with dozens of Fortune 500 companies to develop total rewards programs. Their experience includes positions at Towers Perrin, The Hay Group, Watson Wyatt, and other top organizations.

Mr. Manas is a principal and is the regional practice leader for compensation in the New York office of Buck Consultants.

Mr. Graham is a senior vice president of Clark/Bardes Consulting.