Total Rewards by Michael Armstrong
Total Rewards by Michael Armstrong
HANDBOOK
OF REWARD MANAGEMENT
PRACTICE
Improving performance
through reward
3RD EDITION
Michael Armstrong
KoganPage
LONDON PHILADELPHIA NEW DELHI
Contents
Introduction 1
3. Total Rewards 39
Introduction 40; Total rewards defined 40; Underpinning concepts 41;
The elements of total rewards 42; The significance of total rewards 43;
Models of total rewards 44; Models of total rewards produced by other
consultants 47; Introducing total rewards 49; Total rewards in
practice 55; Conclusion 60; References 60
4. Strategic Reward 62
Introduction 62; Strategic reward management defined 63; The rationale
for strategic reward 63; The problem with the concept of strategic
reward 64; Characteristics of strategic reward 65; Reward philosophy 65;
Guiding principles 66; Reward strategy 72; Developing reward
strategy 79; Implementing reward strategy 84; References 85
iv Contents
5. International Reward 87
Introduction 87; The international scene 88; International reward
strategy 89; Rewards for expatriates 92; References 96