Question
Considering the Total Rewards Model, discuss each of the four areas below separately.IMPORTANT!State specific actions you will take with compensation, benefits, work-life balance, performance and
Considering the Total Rewards Model, discuss each of the four areas below separately.IMPORTANT!State specific actions you will take with compensation, benefits, work-life balance, performance and recognition, development and career opportunities at least once total in the four areas.
A. How you will Attract employees
B. How you will Motivate employees
C. How you will Retain employees
D. How you will Engage employees
Example: 4.a.We will stand out as a company that cares for its employees. I will attract employees bycompensatingthem with wages well above minimum wage and abenefitspackage that supportsthe needs of the average American and their family. Including things likedental, vision, mental health services, and a $10,000 life insurance policy for each employee that's been with us for at least 90 days.
The Total Rewards Model The Total Rewards Model encompasses five components, each of which includes programs, practices, and nuanced dimensions that collectively define an organization's strategy to build a productive, inspired and committed workforce. TOTAL REWARDS STRATEGY Strategy Culture Compensation WORKFORCE Workforce EXPERIENCES Inclusion Well-Being Leadership INFLUENCES .. ............ HR STRATEGY PRODUCTIVE Benefits INSPIRED Social Norms Regulatory Development Al & Technology ORGANIZATION Product Market Recognition PERFORMANCE Labor Market COMMITTED Compensation Well-Being Benefits Development Recognition Pay provided by an The state of a workforce Programs focused on Encompasses the rewards Formal or informal employer to workers in that is productive, health and welfare, income and opportunities that programs that thank, exchange for servi comfortable, happy, and protection, financial employers offer their validate, recognize and as time, effort and talent. healthy, considering preparedness, retirement workers to advance their celebrate workforce This includes both fixed physical, emotional/ and time off including skills, competencies, contributions while and variable pay tied to mental, financial and leaves of absence, responsibilities and aligning and strengthening overall contributions. environmental factors. aimed to provide holistic contributions - in organizational culture. Total Rewards professionals well-being and security both their short- and influence this state through for the workforce and long-term careers. organizational strategic their families. influence and building programs that support workforce success inside and outside of workStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started