Application and Practice Exploration of Total Compensation Strategy in the New Era

Yunfei Xu () and Hui Xu
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Yunfei Xu: State Grid Energy Research Institute Co. LTD
Hui Xu: The First Hospital of Wuhan City, Hubei Province

A chapter in Proceedings of the 2024 2nd International Conference on Management Innovation and Economy Development (MIED 2024), 2024, pp 691-696 from Springer

Abstract: Abstract The total compensation strategy is a compensation system in which enterprises comprehensively encourage individuals or teams who have made contributions in order to achieve organizational strategic goals. It focuses on actions, attitudes and achievements that help organizations achieve organizational goals, including not only traditional salary items, but also capacity-building programs and non-material reward programs that motivate employees. Total compensation is not only to pay wages, but also a strategic management tool, which can help enterprises achieve their business goals and enhance employees’ satisfaction and loyalty.

Keywords: Total compensation; external motivation; internal motivation (search for similar items in EconPapers)
Date: 2024
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DOI: 10.2991/978-94-6463-542-3_79

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