Total Rewards Design and Communication Assignment | Homework Help Websites

For companies that have a mission of selling, a major objective is to motivate the salespeople.  While that are many factors that go into motivating these people, one of the primary factors is the compensation plan that describes how they will be rewarded. Research a large organization’s sales force and its compensation plan. Write a five to seven (5-7) page paper in which you:

Save Time On Research and Writing
Hire a Pro to Write You a 100% Plagiarism-Free Paper.
Get My Paper
  1. Identify a total rewards design process by defining key strategies, statements, and philosophies attributed to the organization. HINT: See pages 31-32 in the WorldatWork text book.
  2. Assess and discuss at least three (3) considerations that need to be determined as you are developing a total rewards program.
  3. Discuss briefly the detail and emphasis of communicating total rewards programs to 3 levels of audiences: (1) Executives, (2) Managers, and (3) Employees. Take into consideration what needs to be communicated to whom and at what level of detail.
  4. Define total rewards branding and explain why it is important. What is HR’s main role in TR branding?

professional writing services near me

  1. Use at least five (3) quality academic resources in this assignment preferably from Note: Wikipedia and other Websites do not quality as academic resources.

Your assignment must follow these formatting requirements:

  • Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; paragraphs are properly indented, and all lines of information double-spaced; references must follow APA or school-specific format. Check with your professor for any additional instructions.
  • Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required page length.

The specific course learning outcomes associated with this assignment are:

  • Evaluate the elements of total rewards design and communication programs.
  • Assess the fundamentals of compensation practices and the regulatory environment that affects them.
  • Use technology and information resources to research issues in total rewards.
  • Write clearly and concisely about total rewards using proper writing mechanics.

STEP 2: DESIGN A design process starts with the corporate mission, vision, and business strategy. The HR philosophy flows from this and serves as a guiding light in the design of all HR programs. Total rewards philosophy and strategy are incorporated within the HR philosophy and strategy. From this, strategies and practices/programs are developed within the five facets of total rewards. Establishing a total rewards strategy helps ensure that rewards become a strategic driving force in the accomplishment of organizational goals. It also helps to align the rewards system with the organization’s culture and change efforts. Define the Corporate Mission and Vision The corporate mission is an organization’s reason for existence or purpose for being. Some conglomerates have more than one mission to reflect different missions for different industry sectors. Knowing “what business you are really in” is key to an organization’s survival and growth. For example, railroads stopped growing because they defined themselves in the train business instead of in the transportation business. To create success, an organization needs to define itself in terms of the market and the customer, rather than the products or services it offers. The corporate vision delineates the organization’s aspirations and goals. While the mission concentrates on what the organization needs to do in the immediate future for growth and success, the vision provides a blueprint for the organization’s long-term viability. It’s how you see the organization 3, 5, even 10 years from now. The corporate vision keeps you on course as you make decisions and plans that affect the company’s future. Define the Business Strategy Business strategy is a company’s plan for competitively positioning its products or services with the intent to accomplish or support corporate mission and vision goals. Business strategy drives HR philosophy and total rewards design. Business strategy elements include: Pricing. Quality.Product innovation.Service excellence.Market responsiveness.Required rate of return. Cost structure. Target market.Marketing and sales.Production.Finance.Product design.Differentiation from competitors.Distribution. Define the HR Philosophy and Strategy The HR philosophy consists of management’s values and beliefs about its approach to the employee relationship. Both HR philosophy and business strategy are key components to the development of an HR strategy. HR strategy consists of the organization’s overall plan for recruitment, retention, and talent management of employees. The total rewards strategy follows from the HR strategy. It consists of the plans that will be used to support the organization’s HR strategy. Define the Total Rewards Philosophy Statement The total rewards philosophy statement expresses management’s values and beliefs about total rewards. The process of developing a statement unifies management’s thoughts about total rewards programs. The total rewards philosophy statement serves many purposes: Communicate commitment and expectations to employees. Facilitate HR plan design. Serve as a reference point to measure the success of total rewards programs. Reinforce company culture and goals. A starting point to develop a total rewards philosophy statement is to ask broad questions about current rewards programs, the organization, its culture, and its employees. Answering these questions thoroughly and systematically can generate the essential elements of the philosophy statement. What is the company culture and environment? What needs to be done to attract, motivate, retain, and engage employees? What are your objectives? (In employment?Retention?) What is the role of HR? (Attracting employees? Retaining employees? Increasing employee satisfaction? Achieving the organization’s performance goals?) What are the company’s performance goals? What cost constraints on the total rewards program can be defined in terms of profit or revenue and expense? Once these questions are answered, it’s time to begin putting together the total rewards philosophy statement. Components of that generally include: Program objectives. Desired competitive position in the labor market (often stated as a percentile of the market). Values regarding factors that should be considered in maintaining internal equity (identification of compensable job factors, the relationship of pay and performance and the relationship between pay and tenure). Values regarding total rewards communication (open versus secretive). Values regarding benefits cost sharing. Desired mix of total rewards elements. The total rewards philosophy statement should be communicated widely and regularly. Employees should understand the statement. They should have the opportunity to discuss the philosophy, ask questions about it, and give management feedback. Define Your Total Rewards Strategy The total rewards strategy determines detail beyond that provided in the total rewards philosophy. It narrows the HR strategy to the specific plan with regard to the total rewards mix that supports the HR philosophy and strategy. The total rewards strategy identifies: The optimal mix of total rewards elements for each employee group. The mix may be high in some elements and low in others. For example, more organizations are moving toward placing a higher emphasis on work-life. In addition, the life cycle of the business can affect the mix. In a high-tech startup, there may be a cash shortage, so wages and benefits may be low, but stock options and work-life may be high. The manner in which each element will be earned and allocated (performance versus entitlement, individual versus group incentives, fixed versus flexible benefits). Appropriate labor market segments for each employee group in which the market is identified according to industry, size, geographic location, or performance. Desired competitive position in the marketplace for each employee group. Many companies want to offer a rewards program targeted at the 50th percentile in the market. However, the average in one market may be considered high or low in another. Therefore, it is important to define the marketplace in which the organization operates. Without a sense of vision and overall strategic direction, people don’t feel as invested in what they’re doing. Therefore, as the total rewards strategy is defined, it is important to remember how it will be viewed and embraced by key players, both within and outside of your organization. (Chapter 3 elaborated on the critical formulation of a total rewards strategy.) Key stakeholders include: Senior management/board of directors. This group needs to approve and be willing to support the philosophy and strategy. They also are important for buy-in and ownership. HR leadership. This group articulates the HR philosophy and strategy, while its staff facilitates the process. Employees. Internal, external, or exit surveys may provide guidance in identifying the relative importance of total rewards elements to various employee groups. Outside consultants. If outside consultants are used, they should work closely with HR to facilitate the process.

Save Time On Research and Writing
Hire a Pro to Write You a 100% Plagiarism-Free Paper.
Get My Paper
Calculate the price
Make an order in advance and get the best price
Pages (550 words)
*Price with a welcome 15% discount applied.
Pro tip: If you want to save more money and pay the lowest price, you need to set a more extended deadline.
We know how difficult it is to be a student these days. That's why our prices are one of the most affordable on the market, and there are no hidden fees.

Instead, we offer bonuses, discounts, and free services to make your experience outstanding.
How it works
Receive a 100% original paper that will pass Turnitin from a top essay writing service
step 1
Upload your instructions
Fill out the order form and provide paper details. You can even attach screenshots or add additional instructions later. If something is not clear or missing, the writer will contact you for clarification.
Pro service tips
How to get the most out of your experience with Homework Writing Services
One writer throughout the entire course
If you like the writer, you can hire them again. Just copy & paste their ID on the order form ("Preferred Writer's ID" field). This way, your vocabulary will be uniform, and the writer will be aware of your needs.
The same paper from different writers
You can order essay or any other work from two different writers to choose the best one or give another version to a friend. This can be done through the add-on "Same paper from another writer."
Copy of sources used by the writer
Our college essay writers work with ScienceDirect and other databases. They can send you articles or materials used in PDF or through screenshots. Just tick the "Copy of sources" field on the order form.
See why 20k+ students have chosen us as their sole writing assistance provider
Check out the latest reviews and opinions submitted by real customers worldwide and make an informed decision.
Excellent work!
Customer 463337, April 18th, 2023
very good job
Customer 456821, August 3rd, 2022
Good job.
Customer 453707, May 8th, 2022
Good work!
Customer 463469, October 29th, 2022
The paper is well-written with few errors.
Customer 452455, June 26th, 2023
Thank you!
Customer 463875, April 29th, 2023
Healthcare & Medical
An exceptional blogpost
Customer 463337, December 14th, 2022
Super professional and highly qualified. Excellent customer service.
Customer 462485, May 29th, 2022
Good follow-up task.
Customer 459155, April 7th, 2022
This paper was beautifully written! Thank you to the tutor for doing an outstanding job and superseding my expectations. Also, thank you to the customer service for ensuring that I receive quality papers.
Customer 452455, April 28th, 2023
Excellent response.
Customer 462281, April 20th, 2022
Great work.Recommendable
Customer 463647, May 14th, 2023
Customer reviews in total
Current satisfaction rate
3 pages
Average paper length
Customers referred by a friend
15% OFF your first order
Use a coupon FIRST15 and enjoy expert help with any task at the most affordable price.
Claim my 15% OFF Order in Chat