Hi there,

READ THIS VERY CAREFULLY: (you will be rated mostly by following the instructions below..)

I answered the prompt in bold below. PLEASE DO NOT ANSWER THE QUESTIONS IN BOLD. Please let me know if you agree or disagree with my answer to the prompt. Please also let me know how I can improve my answer with TWO-hundrend words or more. Please do more than just a reiteration of thoughts shared by my answer. It should either extend and/or respectfully critique the thoughts

Prompt: (AGAIN, DO NOT ANSWER THESE. SIMPLY READ WHAT I WROTE FOR THE ANSWERS FOR THE QUESTIONS AND LET ME KNOW HOW I DID AND IF YOU AGREE.)

(Prompt) Define "total rewards" as it pertains to your employees? How can an employer determine the right "mix"for its total rewards package and how does a company know how much to pay and provide to employees?

MY answer:

Total rewards for employees is a comprehensive set of intrinsic and extrinsic rewards that include monetary compensation, benefits, work-life balance, recognition, and career development (Shepherd, 2021). These rewards have the power to attract and retain employees with an employer. Determining an appropriate mix of rewards requires an in-depth analysis of the employer providing those rewards and their competition, societal values, and legal factors. This can be achieved by researching current employee interests and needs, what rewards competitors offer and how effective they are, and whether the rewards are aligned with the employer's business values and goals. Other considerations include evaluating how much emphasis should be put on each reward and managing who receives the reward at a certain time or for a certain achievement. Evaluations should be based on the degree of alignment with the organizational strategy to ensure satisfactory employee performance. These are all factors that are constantly changing, thus requiring continuous analysis and updates. The pay model in Exhibit 1.6 of Compensation (14^th ed.) by Barry Gerhart is a detailed guide for such an analysis and can be used in the development of a total rewards mix as well as how much to pay and provide for employees. In summary, employers should identify the objectives that their pay system aims to achieve, be able to address the four policies of internal alignment, external competitiveness, employee contributions, and management, and identify the pay techniques that will be used to connect the policies to the objectives.

(AGAIN, DO NOT ANSWER THESE. SIMPLY READ WHAT I WROTE FOR THE ANSWERS FOR THE QUESTIONS AND LET ME KNOW HOW I DID AND IF YOU AGREE.)