What does 'total rewards' encompass in job analysis?

The concept of 'total rewards' in job analysis pertains to the comprehensive system of compensation, benefits, incentives, and non-financial perks that an organization offers to its employees. This framework includes both intrinsic and extrinsic rewards, making it a holistic view of how jobs are valued and treated within an organization.

Intrinsic rewards are the internal satisfaction and personal fulfillment an employee gains from their work, which can come from aspects such as achieving career goals, personal growth, or recognition. Extrinsic rewards, on the other hand, are tangible benefits or monetary compensation like salaries, bonuses, and benefits such as health insurance, retirement plans, and other incentives.

By emphasizing the combination of these two types of rewards, total rewards reflects the organization's recognition that employee motivation and satisfaction stem from a wide range of factors, not just salary or financial incentives alone. The understanding of total rewards goes beyond simple pay structures to create a more engaged and satisfied workforce. This approach allows employers to attract and retain talent effectively by offering a more rounded view of employment rewards that considers the diverse needs and desires of employees.

The other options do not capture the full breadth of what total rewards entail. Focusing solely on monetary compensation ignores the significant impact that non-monetary rewards have on employee motivation.