Jacob, the director of compensation for Golightly Jewelry. He is redesigning the compensation system to retain top performers and to be more flexible when the economy goes up or down (the company is sensitive to changes in the economy). Of the options below, which offers the approach to compensation that would work best for Golightly Jewelry?
A)total rewards
B)entitlement
C)traditional compensation
D)lag-the-market

Question

Quizplus · Accepted Answer

Total rewards approach is ideal for Golightly Jewelry because it allows for a more comprehensive compensation system that includes not just traditional base pay, but also benefits, bonuses, and non-monetary rewards. This would allow the company to retain top performers by providing them with a range of rewards that they find motivating, and it also allows for flexibility during economic changes, as the company can adjust the mix of rewards to reflect changing priorities. Additionally, the total rewards approach can be tailored to match individual employee preferences and goals, further enhancing retention and engagement.

Jacob, the Director of Compensation for Golightly Jewelry