total rewards

Definition

The complete package of compensation, benefits, perks, and non-monetary incentives offered to employees. What recruiters tout when the actual salary is disappointingly low.

Example Usage

Sure, the base salary is below market, but look at our total rewards package—we have free coffee and occasional pizza!

Origin

Popularized by WorldatWork (formerly American Compensation Association) in the 1990s

Fun Fact

Studies show employees typically only value total rewards at 60% of their actual cost, meaning that ping-pong table is worth less than you paid for it.

Source: Compensation and benefits strategy terminology

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Advanced

constructive discharge

When an employer makes working conditions so intolerable that an employee is forced to resign, legally equivalent to being fired. The corporate version of 'I'm not touching you' until someone quits.

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staffing

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Smdh

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