IMPLEMENTING THE NEW TOTAL REWARDS PROCESS WITHIN THE DIGITALIZED SOCIETIES

Viorel Lefter, Elvira Nica () and Alexandra Mironescu ()
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Viorel Lefter: Academy of Economic Studies, Bucharest
Elvira Nica: Academy of Economic Studies, Bucharest
Alexandra Mironescu: Teaching Assistant, Ph.D. Student Romanian-American University, Bucharest

No 2, Proceedings of the Fifth "Administration and Public Management" International Conference: "Public Institutions' Capacity to Implement the Administrative Reform Process", Bucharest, June 23-24, 2009 from Research Centre in Public Administration and Public Services, Bucharest, Romania

Abstract: The society evolved and with it also the human’s professional needs. Employees want and need to be acknowledged for their valuable and extra contributions. Rewards and recognition are powerful tools for demonstrating appreciation and reinforcing those behaviors that lead to superior products, outstanding support, strong supplier relationships, and lifelong customers. Digitalized societies primary tool for providing spot rewards is new total rewards process, a resource for global compensation, benefits, variable pay, equity and rewards plus recognition program information as well as job architecture valuable information. As recognition is being known worldwide as the greatest motivator and one of the greatest strengths of any organization are the people who work there, the necessity of implementing the new total rewards process becomes acute. Long-service employees provide the knowledge, experience, and attitudes that are responsible for much of digitalized societies success. In recognition of this, new total rewards are presented to eligible employees in celebration of their career milestones and to acknowledge their contribution to the company. By introducing the new total reward process the truly effective recognition will be no longer a program or a policy mandated by HR, it will become a way of organizational life that touches all corners of the organization most every day of the working week.

Keywords: total rewards; long-service employees; career milestones; perpetual development; human capital (search for similar items in EconPapers)
JEL-codes: J24 J81 O15 O33 (search for similar items in EconPapers)
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Published in the Proceedings of the Fifth Administration and Public Management International Conference. Public institutions’ capacity to implement the administrative reform process , Bucharest, June 23-24 2009, pages 21-27

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