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Competitive Pay and Progression
The degree to which the cash (base salary and variable pay) paid by the organisation reflects pay available elsewhere
Good Benefits
The degree to which the benefits provided by the organisation (e.g. pension or annual leave) reflect those available elsewhere.
Incentives for Higher Performance
The degree to which the organisation offers additional payments (higher base salary, higher salary increase and/or bonus or incentive payments) for employees who perform better/well.
Recognition Awards
The extent to which the organisation provides specific awards which recognise specific achievements and contributions.
Fairness of Reward
The degree to which the reward package provided by the organisation can be regarded as internally fair and equitable by staff.
Tangible Rewards
'I get reasonable pay, a decent increase if I perform well and a few years ago I was able to buy a really good microwave oven with the bonus we all got for delivering the new policy ahead of schedule' |
 © Hay Group |
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