Exploring the Black Box of Managing Total Rewards for Older Professionals in the Canadian Financial Services Sector

This study extends our knowledge about the management of older employees in the sector of financial services, which faces enormous transformational pressures (e.g., emergence of artificial intelligence, digital services). Based on the black box model of human resource management, we investigate how executives at 16 major financial institutions manage their total rewards to motivate their older professionals to stay at work longer. Top management’s views towards older professionals underlie a firm’s culture or climate, and more precisely, the extent of the perception that they are a strategic resource that needs focused management. Across firms, such adaptation (or lack thereof) is made through the following total rewards components: (1) flexibility in working time and place of work, (2) hiring of retirees, (3) hiring or promotion of older professionals, (4) role adjustment, (5) responsibilities and performance standards, (6) monetary rewards, benefits, and (7) recognition, succession planning, and support for retirement planning or preparation. The black box model should be used in future research to understand which reward components work best in which contextsto motivate older workers to stay at work longer.

The Improvement of Total Rewards and Working Condition for Taekwondo Instructor in the COVID-19 Era

The purpose of this study is to identify the overall difficulties of the Taekwondo industry due to the COVID-19 situation and to find ways to improve the total rewards and working condition so that Taekwondo instructors can play their roles while maintaining their self-esteem. The method of this study was a comparative study of the U.S. and Korea, which is the home country of Taekwondo. For this study, 12 American and Korean instructors were interviewed and additional surveys were conducted. As a result, both American and Korean Taekwondo instructors were playing their roles with high self-esteem. However, there were differences in job classification, allowances pay, incentives, and self-development opportunities. In U.S., Taekwondo instructors are clearly defined their tasks based on the job classification system and are applied well-designed overtime pay, incentive system and vacation plans. On the other hand, Korean instructors were working overtime and overworking without additional compensation to maintain long-term vision and employment relations. Comparative studies show that both countries have improvements to learn from each other. Taekwondo instructors in the U.S. need to increase their self-esteem in taekwondo while providing instructors with a vision for long-term careers. Taekwondo instructors in Korea need to improve total rewards and develop new skills such as mental training, counseling, and online lessons. The study will contribute to the overall improvement of total rewards, working condition and career development of taekwondo instructors in the U.S. and Korea.

Professional Personnel Adaptation: Essence and Features

The article analyzes the issues related to the identification of the essence and peculiarities of professional adaptation of personnel, problems of attitude to unification into groups, the degree of satisfaction: labor activity, working conditions, position in the team, the nature of interactions and relationships in the organization, in the team, themselves and the results of their work, assessment of collectivism. The study used the questionnaire "Assessment of socio-psychological professional adaptation" by M.A. Dmitrireva and "Methodology for determining integral satisfaction with labor" by A.V. Batarshev, the sample was 208 people. As a result of the study, factors were identified that negatively affect the system of adaptation of recruiting agency specialists: a low level of collectivism, as a result of low team cohesion; low level of self-satisfaction of specialists at work; low level of satisfaction of specialists with achievements in the work. Among the main directions of improving the personnel adaptation system, the following areas are proposed: increasing the level of collectivism by introducing communication games on team cohesion, as well as organizing intellectual timbuilding for specialists; formation of Total Rewards intangible motivation. This motivation system will allow employees to maintain a balance between work and life and feel their own value; Development of a quarterly performance compensation system. This method will allow for regular assessment of staff achievements.

Mediating role of need satisfaction on total reward management towards retention: a conceptual framework

Purpose This paper aims to investigate the impact of total rewards on retention. The finding relies on need satisfaction approach as a mechanism. This is done by investigating the role of need satisfaction of “autonomy, competence and relatedness” as possible mediators between elements of total rewards and retention. Design/methodology/approach This paper focussed on exploring the literature published in various popular databases .Based on the conceptual analysis, a set of possible frameworks linking the three constructs has been stated for future research. Findings The research has evolved with few possible frameworks to model the assertions by investigating and corroborating it with quantitative studies to be empirically tested. Originality/value The originality lies in applying self-determination theory framework of need satisfaction mechanism in explaining the relationships between total rewards and retention, thereby adding new insights to the employee retention literature.

Subdimensions of total rewards satisfaction and creativity among R&D employees: a moderated mediation model

PurposeThis study aims to explore the relative importance of the subdimensions of total rewards satisfaction in predicting research and development (R&D) employee creativity. In addition, the study examines the indirect effects of the subdimensions of total rewards satisfaction on creativity via work engagement and the moderating role of challenge-related work stress in the first stage.Design/methodology/approachA two-wave design was used, in which total rewards satisfaction and challenge-related work stress were measured in the first wave. Work engagement and creativity were measured in the second wave. Dominance analysis and the latent moderated mediation model were used for the data analyses.FindingsThe analyses show that nonfinancial rewards satisfaction completely dominates indirect and direct financial rewards satisfaction when predicting creativity. Indirect financial rewards satisfaction completely dominates direct financial rewards satisfaction when predicting creativity. Work engagement mediates the relationships between the subdimensions of total rewards satisfaction and creativity. Challenge-related work stress moderates the relationships between the subdimensions of total rewards satisfaction and work engagement and the indirect effects of the subdimensions of total rewards satisfaction on creativity via work engagement.Practical implicationsThe results imply that managers should set challenge demands for R&D employees and try to improve their total rewards satisfaction, especially their nonfinancial and indirect financial rewards satisfaction, for them to be more creative.Originality/valueThis empirical study contributes to the literature by comparing the relative importance of the different dimensions of total rewards satisfaction in predicting creativity. The study also clarifies how (through work engagement) and when (based on challenge-related work stress) the subdimensions of total rewards satisfaction are positively related to R&D employees' creativity.

Measuring Total Rewards Satisfaction: A Scale Development Study

<p></p><div> <p></p><p>Total Rewards Strategy has been used as a viable strategy to motivate and retain employees across sectors. It has also been widely studied by the scholars and researchers across the globe leading to a number of scales measuring total rewards measuring preferences, and perceptions, ignoring its satisfaction aspect. However, the existing scales have been found to display construct related weaknesses in terms of under-representation of total rewards as a multidimensional construct and measuring it as a reflective higher-order construct. Analyzing findings of literature review and factor analyses, the authors confirm total rewards as a second-order formative construct. The purpose of this study is to develop a valid and reliable measure of total rewards satisfaction (TRS) as a formative higher order construct. Different phases of quantitative validations were carried out with a new data set for each of the studies viz. content validity (n = 13 experts), exploratory factor analysis (n = 180) for determining factorial structure of the scale, first-order confirmatory composite analysis (n = 215) and second-order confirmatory analysis (n= 120) confirm a six-dimensional structure of 23-item TRS scale. The psychometric properties of the scale have also been reported. The scale demonstrates internal consistence, reliability and construct validity.</p><br><p></p></div><p></p>

Measuring Total Rewards Satisfaction: A Scale Development Study

<p></p><div> <p></p><p>Total Rewards Strategy has been used as a viable strategy to motivate and retain employees across sectors. It has also been widely studied by the scholars and researchers across the globe leading to a number of scales measuring total rewards measuring preferences, and perceptions, ignoring its satisfaction aspect. However, the existing scales have been found to display construct related weaknesses in terms of under-representation of total rewards as a multidimensional construct and measuring it as a reflective higher-order construct. Analyzing findings of literature review and factor analyses, the authors confirm total rewards as a second-order formative construct. The purpose of this study is to develop a valid and reliable measure of total rewards satisfaction (TRS) as a formative higher order construct. Different phases of quantitative validations were carried out with a new data set for each of the studies viz. content validity (n = 13 experts), exploratory factor analysis (n = 180) for determining factorial structure of the scale, first-order confirmatory composite analysis (n = 215) and second-order confirmatory analysis (n= 120) confirm a six-dimensional structure of 23-item TRS scale. The psychometric properties of the scale have also been reported. The scale demonstrates internal consistence, reliability and construct validity.</p><br><p></p></div><p></p>

The Influence of Total Rewards Approach to Employees Sales Performance in Bersatu Sukses Group

This study aims to analyze whether the six aspects of total rewards approach – performance and career management, quality work environment, work and/or home integration, base pay, benefits, and contingency pay – affect employees’ sales performance. This research uses the population of Bersatu Sukses Group sales marketers with total of 105 people. Purposive sampling method was used for this research through simple random sampling technique, which led to a sample size of 83. This research used multiple regression to analyze the measure of relationship between the variables. Based on the results of the analysis, total rewards approach – performance and career management, quality work environment, work and/or home integration, base pay, benefits, and contingency pay – have significant and positive effects to employees’ sales performance at Bersatu Sukses Group. Work and/or home integration also proved to have the greatest impact of the six variables to employee’s sales performance with its heightened productivity brought by the variable as the most favored indicator by the average of the respondents. Furthermore, from the six total rewards approach, benefits and contingency pay are two variables with the least influence on employees’ performance in sales of Bersatu Sukses Group.

Optimizing hyperparameters of deep reinforcement learning for autonomous driving based on whale optimization algorithm

Deep Reinforcement Learning (DRL) enables agents to make decisions based on a well-designed reward function that suites a particular environment without any prior knowledge related to a given environment. The adaptation of hyperparameters has a great impact on the overall learning process and the learning processing times. Hyperparameters should be accurately estimated while training DRL algorithms, which is one of the key challenges that we attempt to address. This paper employs a swarm-based optimization algorithm, namely the Whale Optimization Algorithm (WOA), for optimizing the hyperparameters of the Deep Deterministic Policy Gradient (DDPG) algorithm to achieve the optimum control strategy in an autonomous driving control problem. DDPG is capable of handling complex environments, which contain continuous spaces for actions. To evaluate the proposed algorithm, the Open Racing Car Simulator (TORCS), a realistic autonomous driving simulation environment, was chosen to its ease of design and implementation. Using TORCS, the DDPG agent with optimized hyperparameters was compared with a DDPG agent with reference hyperparameters. The experimental results showed that the DDPG’s hyperparameters optimization leads to maximizing the total rewards, along with testing episodes and maintaining a stable driving policy.

Relationship Between Total Rewards Perceptions and Work Engagement Among Chinese Kindergarten Teachers: Organizational Identification as a Mediator

Kindergarten teachers' engagement in work is influenced by many factors. Total rewards perceptions, as an individual's evaluation of the rewards provided by the organization, may promote work engagement when it can meet their intrinsic and extrinsic work demands. To explore the relationship between kindergarten teachers' total rewards perceptions and work engagement, and the mediating role of organizational identification, a survey was conducted among 1,014 kindergarten teachers applying the Chinese versions of the Total Rewards Perceptions Scale for Kindergarten Teacher, Kindergarten Teacher Organizational Identification Scale, and Kindergarten Teacher Work Engagement Scale. The results showed that kindergarten teachers' total rewards perceptions and its four factors were positively correlated with organizational identification and work engagement. Organizational identification was positively related to work engagement. Organizational identification partially mediated the relationship between total rewards perception and work engagement among kindergarten teachers. We discussed the result of the relationship between total rewards perceptions, organizational identification, and work engagement among Chinese kindergarten teachers.