Final Total Rewards Management Report
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TA_TotalRewardsBriefing..-11.pptx1
Total Rewards Briefing
Total Rewards (HRM 533)
Presented As First Course Assignment to:
Dr. Gary Lorenzo Wash
Strayer University
Presented by:
Tonya Palmer
Agenda of the Presentation
Po provide an insight of the management elements
The presentation discusses the reward design and communication.
sales force compensation will also be addressed in detail
The last HR element that will be discussed the strategy of preparing the benefits of total reward system.
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This presentation is aimed at giving out an insight concerning management elements.
It discusess the reward design and communication which are appropriate for organizations to use.
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Summary
The total reward system is an important human resource strategy used for recruitment, motivation and keeping the employees.
The total reward system comprises of three elements are reward design and communication, sales force compensation, and finally the work-force benefits.
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The total reward system is a significant human resource approach used for recruitment, motivation and keeping the employees.
The total reward system comprises of three elements are reward design and communication, sales force compensation, and finally the work-force benefits.
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WorldatWork Total Rewards Model Elements
The first element is the compensation which are the ways in which employees of an organization earn their income.
The second element is the professional Development and recognition which seek to ensure that the employees advances their skills to meet the emerging organization requirements (Goh, 2017).
The third element to work-life balance which enables the workers to meet their personal objectives
The forth element is the benefits that an employee gain by working for an organization
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Some total rewards elements include compensation which are the ways in which employees of an organization earn their income.
Another one is the second element is the professional Development and recognition. The third element to work-life balance which enables the workers to meet their personal objectives and the forth element is the benefits that an employee gain by working for an organization
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Total Reward Design and Communication
The element helps to improve the relationship among employees and also between the employers and employee (Goh, 2017).
The organization improve the employee relation through compensation, bonuses, and performance awards.
Also the organization can arrange for health benefits, retirements savings, a and work-life.
Lastly, employee can further their education through the education programs.
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The total reward design and communication helps to improve the relationship among employees and also between the employers and employee (Goh, 2017).
The organization improve the employee relation through compensation, bonuses, and performance awards. Also the organization can arrange for health benefits, retirements savings, a and work-life.
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Motivation program types for a sales force.
Through the use of total reward system, an employee can get motivated through various ways.
First an organization can use incentives related to the job such as vocation time ("Developing a Total Rewards Strategy," 2015).
Also, tangible incentives can be awarded to the employees. These can be different prizes.
Lastly, incentives that relates to experiences can also be awarded.
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An employee can get motivated through various ways if total reward system is applied in an organization
(discuss the content in slides)
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Cont.
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Motivation creates a positive attitude of an employee towards work.
Language learners have very different objectives for language learning.
Many scholars have found a strong relationship between motivation and language learning achievement.
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Behavior programs for sales force
The behavior programs should be a focus of sales’ department leaders.
One behavioral program is respecting the time for change which provides that sales managers and leaders should not succumb to pressure but rather empower the sale’s force to make sound decisions ("Developing a Total Rewards Strategy," 2015).
Communication is also the key for the sales force to be rewarded.
The sales force should behave in a manner that supports their colleagues and the department.
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The behavior programs for sales force should be a focus of sales’ department leaders.
One behavioral program is respecting the time for change which provides that sales managers and leaders should not succumb to pressure but rather empower the sale’s force to make sound decisions ("Developing a Total Rewards Strategy," 2015).
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Reward program for sales force
Reward programs for sales force encourages them to work with loyalty.
An internal reward should focus on recognizing top performance as well as offering creative perks to the team (Shields, 2012).
An example of reward program that can be used is promoting the specific individuals as a means of acknowledging their positive contribution in sales.
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The reward programs for sales force encourages them to work with loyalty.
An internal reward should focus on recognizing top performance as well as offering creative perks to the team (Shields, 2012).
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The compensation, benefits and work-life
The figure alongside demonstrates the relationship between compensation, benefits and work-life.
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Cont.
Compensation
Compensation is the pay that the employer gives an employee for services rendered.
For example salaries and wages.
Benefits
These are programs an employer uses to supplement the cash compensation that employees receive
They are meant to protect the employees and their families from financial risks
Work-life
These are specific set of organizational practices, policies, and programs, plus a philosophy that actively supports to aid in employees achieve success at both work and home.
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Compensation is the pay that the employer gives an employee for services rendered.
For example salaries and wages.
Benefits
These are programs an employer uses to supplement the cash compensation that employees receive
They are meant to protect the employees and their families from financial risks
Work-life
These are specific set of organizational practices, policies, and programs, plus a philosophy that actively supports to aid in employees achieve success at both work and home.
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Strategic plan for creating benefits programs.
Begin the employee benefit program to include all the mandated benefits.
Consider the optional benefits necessary to include such as health insurance and flexible compensation plans (Shields, 2012).
Consider increasing more benefits to the program.
Evaluate the benefits that are most significant to the employees.
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Strategic plan for creating benefit programs are essential in undertaking the entire process. Hence, the relevant parties should begin the employee benefit program to include all the mandated benefits, consider the optional benefits necessary to include such as health insurance and flexible compensation plans (Shields, 2012). Alo, they should consider increasing more benefits to the program and lastly, evaluate the benefits that are most significant to the employees
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Cont.
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The benefits of strategic planning promotes proactivity. Hence, employees work hard to ensure that the organization meets its objectives.
These aspects involves both internal and external stakeholders who creates advocacy for the program.
Furthermore, benefits strategic planning promotes stability of the organization as time goes by.
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Conclusion
The total rewarding system enables the organizations to improve performance.
There is a great relationship between compensation, benefits, and the manner in which the employees work.
The workforce benefits encourages employees to work harder to achieve the organizational objectives.
Hence, the total reward system is an important human resource strategy used for the recruitment, motivation and keeping the employees.
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References
Developing a Total Rewards Strategy. (2015). The WorldatWork Handbook of Compensation, Benefits & Total Rewards, 18-27. doi:10.1002/9781119196600.ch3
Goh, A. C. (2017). Practical Approaches to Total Rewards Management.
Shields, J. (2012). Reward management. Human Resource Management in a Global Context, 243-284. doi:10.1007/978-0-230-35885-0_11
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