Intelligent remuneration in the knowledge economy
Intellectual capitalHuman CapitalIntelligent remunerationKnowledge workerMotivationKnowledge ManagementManagement of enterprisesFöretagsledningManagementBusiness and Economics
Talented people are recognised as being the most important corporate resource over the next twenty years and a competitive compensation system is an important tool in attracting and retaining talent. Traditional pay systems are recognised as being neither cost effective nor motivating people to do more. Often these systems do not contribute to strategic objectives. This study outlines what constitutes an intelligent remuneration system that will enhance the mind value added by knowledge workers, reward knowledge creation, and contribute to organisational strategies.