Total Rewards: Good Fit for Tech Workers

Total rewards is a promising approach to rewards management that has been adopted by such technology-intensive firms as IBM, Microsoft, AstraZeneca, and Johnson & Johnson. Total rewards takes a holistic approach to rewards, going beyond the strong focus on pay and benefits which has been the hallmark of traditional compensation practice. Total rewards considers all the rewards available in the workplace, including opportunities for learning and development, and quality work environment. Because these rewards are a high priority for technical workers, as shown in the research reviewed in this article, total rewards offers an opportunity to tap the unrealized potential of the organization. Effectively managed rewards will ease the critical attraction, retention and motivation challenges faced by high-technology firms.