Question
You are required to work as an HR Consultant to advise the company on an HR issue. The Director of Human Resource Management for the
You are required to work as an HR Consultant to advise the company on an HR issue. The Director of Human Resource Management for the company is unsure of what should be offered in terms of Total reward /rewards. You are required to recommend the reward package to the Director of HR. Ensure that your reward package is aligned with the relevant external and internal factors that a company must consider when deciding on and designing reward packages. Use the Total Reward Approach to design and recommend the total reward package (TRP) for a job of your choice in the company (SME) you have created. In order to justify the recommended package, you will also submit a simple job description for the chosen job, as one of the supporting documents. Explain what Armstrongs Total Reward Approach is meant to achieve; Consider what the elements of Armstrongs total rewards approach are; What is the outcome of providing not only compensation but a total reward package to the employee? Describe the importance of linking the TRA to the organizations strategy. Compare and contrast Armstrongs Model of Total Rewards with one other Total Rewards Model of your choice. Consider the strengths and weaknesses of both models. Recommend the total reward package for the job under consideration. Ensure that you provide both Financial and Non-financial rewards to create value for organization and the employee: Base pay & Contingent pay Benefits (Mandatory and Discretionary) Work Experience Recognition, Achievement and Growth Learning and Development. Justify your recommendations considering internal and external influences: - Internal Influences: The appropriate mix of financial and non-financial compensation Balance between fixed and variable compensation Employee Motivation Development of an overall cost-effective program that results in High performance. Alignment of the compensation plan with the company needs and strategy. - External Influences: Legal/regulatory issues Cultural influences and practices Competition in the market. Provide a brief conclusion on the strengths of implementing the Total Rewards Package you propose. Provide documentation to illustrate internal and external environment analysis. (job description, labour law references, survey research of employee engagement/motivation or any other document).
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