INPROFORUM 2013

Implementations of rewards systems in large companies with seat in the Czech Republic
Petr Petera, Jaroslav Wagner, Michal Menšík

Language: en
Last modified: 2013-10-29

Abstract


This paper presents results of our empirical research (survey), which was conducted among large profit-oriented companies with seat in the Czech Republic and is focused on total rewards approach, job evaluation, types of rewards and on rewards for performance.

Our survey exposed that our respondents implement majority of important properties that are typical for total rewards approach. An exception is cafeteria system and respecting of demographical structure of workforce, which are only weakly utilized. Some minor problems were identified also in the area of improving of remuneration system (system dynamics).

As for job evaluation, analytical schemes and market pricing are used by a similar percentage of respondents. On the other hand, majority of our respondents (73 percent) at least strive to find out market value of relevant jobs. In case of internally oriented schemes, we were a bit surprised by high percentage of respondents, who use only insufficient, imprecise data.

Finally, as for rewards for performance, we found out that these rewards are used very intensively by our respondents. Short-term rewards (awarded on the basis of performance measurement within a period up to one year) are used by 81 percent of our respondents and long-term rewards (awarded on the basis of performance measurement within a period longer than one year) are used by 48 percent of respondents.


Keywords


total rewards approach, job evaluation, types of rewards, rewards for performance, performance management

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