5981 
9079With the transformation of human cognition in theory and practice, the individualized needs of " Intellectual” have prompted organizations to evolve from traditional compensation management to total rewards management. First of all, this paper summarizes and refines the origin, components, concept connotation and theoretical basis of total rewards. It is found that the academic community constantly gives the elements of total rewards a new connotation and expands total rewards according to the constant changes in the perception of employees’ human needs. The measurement research and practice tests are conducted continuously in the meantime. The theoretical basis of total rewards is mainly reflected in the motivation theories whose core element is how to design effective total rewards content and level to meet the actual needs of employees. Secondly, according to the organization’s human resource management objectives, the theoretical and practical circles mainly study the impact of the components of total rewards on employee retention, employee attraction and employee engagement from the perspective of organizational management. After reviewing the above research results and summarizing the existing research frameworks of total rewards, this paper finds that the existing research mainly studies the influencing factors and mechanisms of the total rewards system design from the perspective of organizational management, and optimizes the total rewards system based on the above influencing factors and mechanisms. With the deepening of the total rewards research in the theoretical and practical circles, some research results have initially involved total rewards research from the perspective of managers and employees. However, these studies are scattered and do not form a systematic and clear research framework. It can be seen that the research on total rewards in the theoretical and practical circles shows a trend of changing from an organizational perspective to an individual perspective. Finally, based on the trend of total rewards research perspective, this paper points out that the future research trend of total rewards is to explore the impacts and mechanisms of personal traits, leadership style, culture and other factors on the total rewards structure and level of employees in the organization’s total rewards framework from the perspective of employees and managers. Furthermore, this paper proposes a future research framework for total rewards from an individual perspective, and summarizes the future research focus of total rewards which includes three aspects: Firstly, the employee personality characteristics affect the long-term and short-term total rewards structure and level. Secondly, the manager’s personality characteristics and leadership style affect the long-term and short-term total rewards structure and level of employees. Thirdly, it combines Chinese local culture and organizational situation to study the total rewards structure model of Chinese employees and its influencing factors. Through the above research, it provides a reference for the organization of total rewards management, managerial personal traits and leadership style improvement, and employee personal traits and behavior improvement, so that employees can feel fairness and incentives to effectively achieve human resource management goals.
/ Journals / Foreign Economics & Management
Foreign Economics & Management
LiZengquan, Editor-in-Chief
ZhengChunrong, Vice Executive Editor-in-Chief
YinHuifang HeXiaogang LiuJianguo, Vice Editor-in-Chief
Literature Review and Prospects of Total Rewards: Factor Evolution, Theoretical Basis and Research Perspectives
Foreign Economics & Management Vol. 41, Issue 05, pp. 101 - 113 (2019) DOI:10.16538/j.cnki.fem.2019.05.008
Summary
References
Summary
[1] Bai Guiyu, Luo Rundong. Research on the relationship between knowledge employees’ welfare incentives and innovation performance[J]. Shandong Social Sciences, 2016, (5): 175-179.
[2] Ding Mingzhi, Zhang Zhengtang, Cheng Dejun. A review of the literature of sorting effects of salary system[J]. Foreign Economics & Management, 2013, 35(7): 54–62.
[3] Mei Chun, Zhao Xiaoju. Pay dispersion, voluntary managerial turnover rate and corporate performance[J]. Foreign Economics & Management, 2016, 38(4): 19–35.
[4] Tan Chunping, Jing Ying, Wang Ye. Does the agreeableness of employees reduce the overall salary level?—An empirical research in the context of the Chinese culture and organizations[J]. Journal of Shanghai University of Finance and Economics, 2018, 20(4): 63-77.
[5] Tan Chunping, Jing Ying. Research on enterprise performance evaluation system based on 2D dot matrix[J]. Statistics & Information Forum, 2018,33(10):97-106.
[6] Wen Fang, Tang Sixin. Executive compensation and managerial over confidence: Study from the angle of compensation-based behavioral view[J]. Journal of Finance & Economics, 2012, 38(09):48-58.
[7] Zhang Yong, Yang Zhao-Jun. Endogenous compensation contract with manager’s traits[J]. Systems Engineering, 2017,35(02):25-29.
[8] Ahmed M, Ahmed A B. The impact of indirect compensation on employee performance: An overview[J]. Public Policy and Administration Research, 2014, 4(6): 27-31.
[9] Armstrong M, Brown D, Reilly P. Increasing the effectiveness of reward management: An evidence-based approach[J]. Employee Relations, 2011, 33(2): 106-120.
[10] Best S. The U. S. gig economy: Economic imposition or economic choice?[J]. The Business and Management Review, 2017, 8(4): 60-67.
[11] De Stefano V. The rise of the “Just-in-time workforce”: On-demand work, crowdwork, and Labour protection in the “gig-economy”[J]. Comparative Labor Law and Policy Journal, 2016, 37(3): 461-471.
[12] Garg P, Rastogi R. New model of job design: Motivating employees’ performance[J]. Journal of Management Development, 2006, 25(6): 572-587.
[13] Gulyani G, Sharma T. Total rewards components and work happiness in new ventures: The mediating role of work engagement[J]. Evidence-based HRM: A Global Forum for Empirical Scholarship, 2018, 6(3): 255-271.
[14] Hagel J. Talent: A battle on two fronts[J]. Journal of Accountancy, 2012, 214(3): 20-21.
[15] Hoole C, Hotz G. The impact of a total reward system of work engagement[J]. SA Journal of Industrial Psychology, 2016, 42(1): 1-14.
[16] Le K, Donnellan M B, Conger R. Personality development at work: Workplace conditions, personality changes, and the corresponsive principle[J]. Journal of Personality, 2014, 82(1): 44-56.
[17] Lockwood N R. Talent management: Driver for organizational success[J]. SHRM Research Quarterly, 2006, 51(6): 1-11.
[18] Lyons F H, Ben-Ora D. Total rewards strategy: The best foundation of pay for performance[J]. Compensation & Benefits Review, 2002, 34(2): 34-40.
[19] Mabaso C M, Dlamini B I. Total rewards and its effects on organisational commitment in higher education institutions[J]. SA Journal of Human Resource Management, 2018, 16(1): 169-177.
[20] Msisiri P R, Juma D. Relationship between non-financial rewards and retention of employees in banking industry: Case of commercial rural development bank-Arusha Tanzania[J]. International Journal of Economics and Finance, 2017, 6(2): 1-37.
[21] Nazir T, Shah S F H, Zaman K. Literature review on total rewards: An international perspective[J]. African Journal of Business Management, 2012, 6(8): 3046-3058.
[22] Pregnolato M, Bussin M H R, Schlechter A F. Total rewards that retain: A study of demographic preferences[J]. SA Journal of Human Resource Management, 2017, 15(1): 1-10.
[23] Ram P, Prabhakar G V. The role of employee engagement in work-related outcomes[J]. Interdisciplinary Journal of Research in Business, 2011, 1(3): 47-61.
[24] Rode J C, Arthaud-Day M L, Mooney C H, et al. Ability and personality predictors of salary, perceived job success, and perceived career success in the initial career stage[J]. International Journal of Selection and Assessment, 2008, 16(3): 292-299.
[25] Smit W, Stanz K, Bussin M. Retention preferences and the relationship between total rewards, perceived organisational support and perceived supervisor support[J]. SA Journal of Human Resource Management, 2015, 13(1): 1-13.
[26] Spurk D, Abele A E. Who earns more and why? A multiple mediation model from personality to salary[J]. Journal of Business and Psychology, 2011, 26(1): 87-103.
[27] Steinberger B Z. Redefining “employee” in the gig economy: Shielding workers from the Uber model[J]. Fordham Journal of Corporate & Financial Law, 2018, 23(2): 577-596.
[28] Stone D N, Bryant S M, Wier B. Why are financial incentive effects unreliable? An extension of self-determination theory[J]. Behavioral Research in Accounting, 2010, 22(2): 105-132.
[29] Sutin A R, Costa Jr P T, Miech R, et al. Personality and career success: Concurrent and longitudinal relations[J]. European Journal of Personality, 2009, 23(2): 71-84.
[30] Turnea E S. What we expect and what we get? Total rewards for potential employees[J]. Procedia-Social and Behavioral Sciences, 2018, 23(8): 81-86.
[31] Umarani M B. Employer branding: A strategic tool to attract, recruit and retain talented staff[J]. International Journal of Innovative Research and Development, 2013, 2(1): 17-32.
[32] Wamweru T J, Makokha S. Relationship between total reward management systems and employee engagement: A case study of bamburi cement limited, Kenya[J]. Journal of Human Resource and Leadership, 2018, 3(1): 29-51.
[33] Zingheim P K, Schuster J R. Developing total pay offers for high performers: Recruiting and retaining employees who perform in the top 20% require astute management from total rewards professionals[J]. Compensation & Benefits Review, 2008, 40(4): 55-59.
Cite this article
Tan Chunping, Jing Ying, An Shimin. Literature Review and Prospects of Total Rewards: Factor Evolution, Theoretical Basis and Research Perspectives[J]. Foreign Economics & Management, 2019, 41(5): 101-113.
Export Citations as:
For
