Week_4_ Discussion & Assignment
c_down18
week4_replies.docxKrystal Wrote:
Hello Professor,
The importance of total rewards for improving employee engagement is that it’s a way that companies can show their employees that they care and are invested in them. Examples would be a walk away value calculator. This tool provides employees an estimate of the money they stand to lose if they leave their job. It includes pending promotions, deferred pay and paid vacations. (hrsoft.com) Games that provide knowledge regarding their knowledge on their pensions and 401k. Benefits can also be an incentive for an employee to be productive. Things an employer can do is provide tuition reimbursement to those employees who are high performers. This could motivate employees to want to perform well on the job. Another would be additional paid time off. This incentive has been a popular method at a company I worked for. Employees were over achievers to receive additional paid time off. Another incentive was extended lunch breaks. Employees liked being able to take and additional hour during lunch that was paid for. This allowed employees to go to appointments that would normally take longer than one hour.
Reference:
https://hrsoft.com/blog/total-rewards-strategy-best-practices-to-improve-engagement/
Amand wrote:
A total Reward is a tool available for an organization to attract, motivate employees to do their best work and retain employees causing low employee turnover. Many people deem this concept value to enhance employment relationships. The components that make up the total rewards package are stock options, health insurance, retirement benefits and contributions, life insurance and pay time off just to name a few. The importance of having a total rewards package helps keeps employees happy and loyal to the company, some motivated employees can use this platform for job advancement opportunities.
Explain how to use benefits to improve engagement, productivity, and performance.
These benefits which can also include public recognition and additional pay, motivate employees to work harder and own their performance and job area. Productivity performance Incentives are used when a goal is exceeded from the standard set, For example, in my former life, we offer additional pay if employees hit an over an 85%, some eager employees were producing 112% that equates to an additional $ 6 bucks per hour on their paycheck. We offer an attendance bonus at the end of the year, if an employee has no call outs during the year they can get an additional $1,700 dollars bonus at the end of the year. T keeps the employees here at work engaged, the company is not spending additional money to create overtime to fill the position and it ensures that our experts are working to meet our customer's needs.
