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Compensation Governance Framework This document articulates the total compensation philosophy, objectives, and approaches to compensation at the Industry Training Authority (ITA). The following document

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What is a total rewards approach?

A total rewards approach is a strategy that organizations use to attract, motivate, and retain employees by offering a comprehensive package of benefits, including salary, bonuses, incentives, perks, and other non-monetary rewards.

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All organizations, typically HR departments or management teams, are required to create and implement a total rewards approach.

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To fill out a total rewards approach, organizations should assess their current rewards programs, gather data on employee preferences, and design a customized package that aligns with the company's goals.

What is the purpose of a total rewards approach?

The purpose of a total rewards approach is to attract, motivate, and retain talented employees, ultimately leading to improved performance and productivity.

What information must be reported on a total rewards approach?

A total rewards approach typically includes details on salary structure, benefits packages, performance incentives, recognition programs, and employee development opportunities.

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