Coming soon · Book Profile
The WorldatWork Handbook of Compensation, Benefits and Total Rewards
A comprehensive guide for HR professionals on designing, implementing, and managing an integrated 'Total Rewards' strategy—encompassing compensation, benefits, work-life, performance, and development—to attract, motivate, and retain employees and drive organizational success.
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What it’s about
This book is the definitive handbook for human resources professionals seeking to master the complex world of employee rewards. It moves beyond traditional compensation and benefits to introduce the 'Total Rewards' model, a holistic framework that integrates five key elements: Compensation, Benefits, Work-Life, Performance and Recognition, and Development and Career Opportunities. The authors argue that in today's competitive and diverse talent market, a one-size-fits-all approach to pay is no longer effective. Instead, organizations must strategically design and communicate a compelling mix of monetary and nonmonetary rewards that align with business objectives and meet the evolving needs of the workforce. This handbook provides a step-by-step blueprint for assessing, designing, implementing, and evaluating a total rewards strategy that not only enhances employee engagement and retention but also delivers a measurable return on investment and drives overall business performance.
The through-line
- Who it’s for
- The reader is a human resources professional, compensation and benefits specialist, or a business leader who is responsible for attracting, motivating, and retaining employees. They want to move beyond outdated, siloed approaches to pay and benefits and create a more strategic, effective, and integrated rewards system that drives business results and meets the needs of a diverse workforce.
- The problem
- Traditional compensation and benefits packages are no longer enough to attract and retain top talent in a competitive, diverse, and rapidly changing labor market. Furthermore, managing these programs in isolation is inefficient, costly, and fails to align with overall business strategy. They feel frustrated that their current reward programs are not having the desired impact on employee motivation and retention. They are worried about escalating costs, the inability to differentiate their company as an employer of choice, and their own struggle to demonstrate the strategic value of HR to the organization's leadership.
- The plan
- Understand the evolution of employee rewards and the business case for a comprehensive Total Rewards approach.
- Follow a six-step process to develop and implement a Total Rewards strategy: Analyze and Assess, Design, Develop, Implement, Communicate, and Evaluate.
- Master the fundamentals of each of the five Total Rewards components: Compensation, Benefits, Work-Life, Performance & Recognition, and Development & Career Opportunities.
- Learn how to design, administer, and communicate each program element effectively, ensuring legal compliance and alignment with organizational goals.
- The payoff
- The reader becomes a strategic partner in the organization, capable of designing and managing a compelling and cost-effective Total Rewards package. · The organization successfully attracts, motivates, and retains the talent needed for success. · Employees are engaged, productive, and clear on how their contributions are valued and rewarded.
See our guide
Related profiles we’ve built
Additional reading
- Human Resource Champions · David Ulrich
The preface references this as a landmark book in the effort to define HR core competencies and the role of HR as a strategic business partner.
- The Human Side of the Enterprise · Douglas McGregor
Mentioned in the preface as a key influence in shifting the perspective from 'personnel administration' to 'human resource management,' providing historical context for the evolution of the HR function.
- The Compensation Handbook, A State-of-the-Art Guide to Compensation and Design · Berger, L.A., and D.R. Berger, editors
This book provides a deep dive into the practical application of finance and accounting; a broader handbook like this one would provide context on the design elements (internal/external equity) that this book deliberately does not cover in detail.
- How to Be a Star at Work: 9 Breakthrough Strategies You Need to Succeed · Robert E. Kelley
Referenced to support the idea that a key trait of high performers is their ability to leverage learning opportunities, which is a core tenet of the book's framework for excelling as a compensation professional.
- Average Is Over: Powering America Beyond the Age of the Great Stagnation · Tyler Cowen
Cited to highlight the increasing economic value of individuals whose skills are complementary to computers, underscoring the book's argument that 'soft skills' and strategic thinking are becoming critical for compensation professionals in a data-driven world.
- Drive: The Surprising Truth about What Motivates Us · Daniel H. Pink
Cited as a contrasting viewpoint that questions the efficacy of financial incentives, highlighting the importance of autonomy, mastery, and purpose. This is relevant to the book's deep focus on designing effective incentive systems.
- Creative Destruction: Why Companies That Are Built to Last Underperform the Market · Sarah Kaplan and Richard N. Foster
Referenced to illustrate the increasing pace of change and business complexity, which provides the context for why compensation professionals need to be more strategic and business-savvy.
- Beyond HR: The New Science of Human Capital · John W. Boudreau and Peter M. Ramstad
Listed as an additional resource to provide a deeper dive into the strategic management of human capital, which is a central theme of the handbook.
- Pay and organizational effectiveness: A psychological view · Lawler, E. E., III (1971)
This is cited as a foundational text that comprehensively applied psychological theories, particularly expectancy and equity theory, to understand how pay systems affect employee motivation and behavior.
- Economics, organization & management · Milgrom, P., & Roberts, J. (1992)
Serves as a key reference for the 'new economics of personnel,' particularly agency theory. The book uses its concepts to frame decisions about behavior- vs. outcome-based contracts and the challenges of incentive design.