The paper considers a process in which rewards are being earned and for which there exist time points at which the process begins anew--that is, that there exists an embedded renewal process. An expression for the asymptotic mean reward earned during any time interval is then obtained. In the final section the special case of a regenerative reward process is considered and a simple expression is presented for the long run average reward earned per unit time. (Author).
The paper considers a process in which rewards are being earned and for which there exist time points at which the process begins anew--that is, that there exists an embedded renewal process.
This book is a summary in a readings format of what the author has learned about strategic-reward systems. The collected material draws heavily on empirical research to guide the author's conclusions. The book contains 26 articles, which are divided into 10 topical areas: (1) "Introduction"; (2) "Pay and the Changing Business Context"; (3) "Pay in New Business Environments"; (4) "Strategic Pay Issues"; (5) "From Job Evaluation to Work Evaluation"; (6) "Team Pay"; (7) "Merit Pay Revisited"; (8) "Competency Pay"; (9) "Pay System Evaluation"; and (10) "Conclusions & The Future of Strategic Rewards." In order for strategic-reward programs to be effective, they must be carefully managed. The design, implementation, and evaluation issues raised in this book need to be carefully considered. Plans need to be administered in a manner consistent with their intent. Reward systems are doomed to fail when they are taken off the shelf and simply "administered" rather than developed specifically to the needs of the organization and then managed. Research on these programs clearly shows the positive impact of these plans on organizational effectiveness when they are implemented well. In addition, strategic-reward management holds great promise as a method of compensation for nontraditional reward environments, such as public sector, not-for-profit, unionized organizations. An index concludes this book. (Each chapter contains references.) (RT)
The study confirmed that individuals with certain personality types and personality preferences, have different preferences for certain reward categories. There was a stronger relationship between reward preferences and personality preferences than for reward preferences and personality types. Preferences for reward categories by different demographic groups were confirmed. The significant difference in reward preferences between Black and White respondents in particular was noteworthy, with Black respondents indicating significantly higher mean scores for all reward categories than White respondents. Finally, a total rewards framework informed by the most prominent preferences for reward categories, was designed.
There was a stronger relationship between reward preferences and personality preferences than for reward preferences and personality types. Preferences for reward categories by different demographic groups were confirmed.
