CONCEPT AND ESSENCE OF TOTAL REWARDS - MUTUAL BENEFITS FOR THE COMPANY AND ITS EMPLOYEES

Abstract

Dynamic changes resulting from changing market needs determine adapt to these changes, also in the field of compensation management. From the viewpoint of effective organization management, compensation management is based on formulation and implementation of such strategies, procedures and processes that aim to appropriate reward employees with material resources and intangible rewards. Understood in this way compensation is called Total Rewards. The paper presents an attempt to systematize knowledge, clarify the concept Total Reward in Polish and to present its essence.