total rewards
/ˈtoʊ.təl rɪˈwɔːrdz/ · to·tal re·wards
noun
- The complete package of compensation, benefits, and other rewards that an employer offers to an employee, including salary, bonuses, health insurance, retirement plans, and non‑monetary perks. The company’s total rewards strategy aims to attract top talent by offering competitive salaries, generous health benefits, and flexible work arrangements.
- A program or system designed to manage and communicate the various components of an employee’s compensation and benefits. HR launched a new total rewards program to streamline the administration of bonuses, stock options, and wellness incentives.
Synonyms
total compensationoverall rewardscompensation packagepay and benefitsemployee rewardssalary and benefits
Antonyms
Did you know? The term "total rewards" gained widespread use after the 1995 publication of the Society for Human Resource Management’s guide on designing comprehensive compensation systems, and it has since become a staple in HR marketing materials.