A Company 's Total Rewards Program

The intent of this assignment is to develop a user-friendly tool that may be applied in the workplace to document Compensation processes and to guide a practitioner in completing the critical steps of each process. The purpose of this assignment is to assist in describing each component of a compensation management system, to develop a practitioner's guide for several of the key compensation management tasks covered in HR511 Total Rewards.

A well-articulated compensation philosophy drives organizational success by aligning pay and other rewards with business strategy. It provides the foundation for plan design and administration and anchors current and future plans to the company's culture and values (Kaplan, 2006, p.32). Recognizing and rewarding achievement is the cornerstone of the company A’s compensation philosophy. The mission of the company is to attract, select, place and promote all individuals based on their qualifications. The company believes that performance-based compensation helps attract, develop and retain talented professionals. In addition to base pay which based upon local market conditions and targeted to be above market, the company provides the following types of potential compensation to reward performance:

The key components to developing effective Reward Strategy is to ensure that there are clearly defined goals to meet business objectives, that the reward programme meets the needs of both the organisation and its employees, and to ensure that this is then supported by effective HR policies. In order to ensure these criteria are met there are a number of factors which influence how reward strategy is developed which include both internal factors within the organisation itself, as well as external factors outside the organisation.

Rewards are one of the most important items in motivating employee towards achieving organization objectives and goals. When rewards are given to a team or section basis, it will help in encourage knowledge sharing among the team members. Since employees playing a vital role in determining the survival of the organization in this competitive world, a performance based related rewards system is deem crucial for the long term success of an

The six features of an effective total rewards program include: focusing on alignment, taking the employees views into account, measuring / managing costs, the greater use of incentive based pay, having effective communication / education and managing the reward program. The combination of these factors is helping firms to more efficiently monitor the sales force.

Reward Management (RM) has been defined as the distribution of monetary and non-monetary rewards to employees in an effort to align the interests of the employees, the organisation, and its shareholders (O’Neil, 1998). In addition O’Neil (1998) also suggests that a RM system can serve the purpose of attracting prospective job applicants, retaining valuable employees, motivating employees, ensuring legal requirements relating to direct and indirect rewards are not violated, assisting the company in achieving human resource and business objectives, and ultimately assisting the organisation in obtaining a competitive advantage.

Rewards programs and benefit packages are always a large decision that ways on a person’s mind when applying for a job. It also helps them decide to accept or stay at a position. These benefit packages must appeal to the person applying. They must be appropriate

As someone who is gainfully employed and currently benefits from the compensation and benefit packages offered by my employer, I feel it is necessary for me to evaluate how critical it is for an organization to provide their employees with benefits and compensations. To learn more about benefits and compensations, including ways it factors into a company’s success or reputation; I will evaluate and compare two organizations, examine commonalties and differences in both organizations benefit packages, and provide my selection based on my research.

The strategic human resources management of the means every person from within organization from the top of management level to the bottom of ground staffs are doing things that make the organization successful. According to Schuler, R. S. (1992) strategic human resources management is defined about integration and adaption within organization .Its concern to ensure HR management is fully integrated with the strategy and these HR policies are adjusted and used by the employees and their line managers as part of their everyday work.

Business change and adapt their goals and strategies all the time as the world of business changes rapidly. A very critical but overlooked element of the renewal process is the impact of the businesses change has on the employees’ behaviour and motivation. Managers must ensure that the rewards and recognition systems are very carefully set aligned with operational goals and overall strategic. If the reward and recognition system is misaligned with the objectives that the managers had in mind the result in behaviour could hinder the organisation. The unanticipated actions may be a personal benefit for the employee also may be beneficial to front-line sales represents and floor managers but this moves the organisation away from its overall goals. The challenge is to assess and implement an incentive system that motivates employees to act in support of strategic and operational objectives. But how does an operational manager or executive know when they have the right rewards and recognition program, or if the one they have implemented is still having the desired effect? In addition to measuring progress of employee performance toward corporate goals, well-defined performance measurement systems help gauge employee reception, understanding and buy-in for reward systems. This critical feedback can help managers make adjustments necessary to drive improvements and avoid the unanticipated behaviours and

According to (Olve, Roy and Wetter , 1999), it is important to understand motivation and cultural influences to define reward system. It is essentials for a meaningful and measurable reward system to motivate employees and to provide opportunities for professional development. Meaningful reward system is a prospect for management to highlight the accomplishment during the specific time period. It is essential to understand the perception triggered by culture, generation gap, and exposure individual might have to comprehend the reason behind reward system. (Olve et al., 1999) argue that reward system ought to be measured based on good intention and work shown by an employee during specific time period at the current position. The organizational culture and diverse work force impose some challenges for mangers to select the right form of reward system. The objectives and goals should be measurable and on clearly defined expectations by supervisor and human resources. The ratings for each objective in performance appraisal should narrate conclusive and measureable results.

This report is a consultant’s evidence-based answer to the issue faced by the head of HR of the telephone technical support department of a major corporation, regarding incentive rewards. More specifically, the head of HR is interested in recommendations for improving employees’ performance. This paper is distributed into five key parts. The first part offers a succinct summary of the context and industry background. The second part defines the nature of the problem, how the consultant framed it, and the research method used to collect and analyse evidence pertinent to the issue. The third part comprises a critical review of the evidence gathered with the description of conceptual and methodological approaches employed. The fourth part proposes the key findings of the paper and their implications for the sponsor of the research. Finally, the fifth part concludes the paper by summarising and giving recommendations to the sponsor.

In chapter 1 of the text, the author shows an overview of human resource management and strategic human resource management. The author also shows the relationship between HRM and management, manager’s role meaning of strategy, strategic approach to HRM and strategic challenges. Lots of diagrams and explanations are used by the author.

Reward can refer to a multi dimensional concept and interpretation, can make from the perspective of language and organization, from the language reward means competation, remuneration, salary and wage system. The term is often can applied interchange within the organization, but refer to the purpose of the meanings. Many challeging in the modern era, aspect of Human Resourse and development so important in organization, it is because Human Resource are important to achieve the goal of company organization, when the Human Resource are active and efficient, it have a relationship with performance and productivity of organization. Efficiency and effectiveness of Human Resource can be achieve, when the organization provide for an employee

3.2 Assessment of HR strategies and their application in an organisation --------- 09 Conclusion ----------------------------------------------------------------- 10