Reward

Foreword 9
A word from the editors 11
Editors 14
Contributors 15
How to use this book 19
Understanding reward

1. Reward and motivation 22
1. What is motivation? 24
2. Foundational motivation theories 26
3. Modern motivation theories 32
4. A generational perspective to reward 36
2. Functions of reward systems 38
1. The dynamics of talent demand and supply 40

2. Learn and develop 44
3. Social cohesion 45
4. Avoiding potential pitfalls 46
5. Well-structured reward systems 49

3. The impact of today’s world on reward 50
1. PwC megatrends 52
2. Aligning reward systems with business strategy 63
3. Flexible reward strategies 63
4. Transforming our world 65
Attractive and compelling reward packages

4. Creating a reward system 68
1. Reward scope 71
2. Reward architecture 72
3. Reward mix 72
4. Reward in transactions 73
5. Reward in different types of organisations 73

5. Reward scope 74
1. The foundations of reward scope 76
2. Broad-based reward strategies 78
3. Narrow-based reward strategies 86

6. Reward architecture 96
1. Reward architecture 98
2. Benchmarking 1 1 1
3. From architecture to content 113

7. Reward mix 114
1. From financial reward to total reward 116
2. From total reward to total wellbeing 136
3. Employee preferences 139
4. Reward evolution 145

8. Reward in transactions 146
1. Transaction and retention bonuses 148
2. Long term incentive plans (LTIPs) 151
3. Management incentive plans (MIPs) 153
4. Optimising effectiveness 155

9. Reward in different types of organisations 156
1. Reward in partnerships 158
2. Quoted versus unquoted organisations 166
3. Differing reward needs 171
Special dossiers

10. Equal pay 174
1. The EU Pay Transparency Directive 176
2. Women on Boards Directive 180
3. The future of equal pay 183

11. Occupational pension plans 184
1. Occupational pensions for employees in Belgium 186
2. Long-term investments 188
3. Life cycle solutions 189
4. Optimising group pension plans 189
5. Choosing the right pension plan 198

12. Remuneration in the banking and insurance industry 200
1. General requirements 202
2. Specific requirements 203

Conclusion
Afterword 209
Acknowledgments 2 1 1
Glossary 213
Endnotes 214