Reward systems (Connect, Perform)
Reward system Base pay Symbolic value Indirect Flexible reward
Surface value Incentive Compensation compensation system
system packages Perquisites Participative pay system
Use each of these individual reward system terms to best complete the following sentences.
The purpose of the_____in most organizations is to attract, retain, and motivate qualified employees.
Even though Evelyn got a generous 10% pay raise, because Lily received a 12% pay raise Evelyn was unhappy. This is because of the______of the reward.
You are satisfied with your overall compensation package even though your base pay is a little low because your_____, especially your retirement plan and health insurance plan, are very generous.
When deciding which job offer to take, rather than considering only the base pay it is important to compare the two______. Because the incentives, benefits, perquisites, and awards of the job with the lower base pay may make the total value of the rewards greater than that offered by the higher paying company.