Assignment: Total Rewards System Proposal
This research-based assignment focuses on the latest available information about creating, organizing, and managing a total rewards program. Envision a service-based (insurance, telemarketing, or other) profit organization that employs 20,000 employees in 17 different countries. There are 2,000 management-level individuals who speak a variety of languages. The company employs diverse individuals who are governed by multiple regulatory environments.
Write an eight to ten page paper in which you:
1. Create a brief overview of the company requirements for a total rewards system.
2. Formulate a total rewards strategy to encompass the fundamentals of compensation and the regulatory environments.
3. Explain the advantages of the total rewards strategy you are proposing and how it might satisfy the employees' needs.
4. Determine the key communication components of the total rewards system.
5. Indicate your strategy for devising a competitive pay structure.
6. Use at least five quality academic resources in this assignment. Note: Wikipedia and other Websites do not quality as academic resources.
Format your assignment according to the following formatting requirements:
1. The answer should be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also include a cover page containing the title of the assignment, the student's name, the course title, and the date. The cover page is not included in the required page length.
3. Also Include a reference page. The Citations and references should follow APA format. The reference page is not included in the required page length.
The specific course learning outcomes associated with this assignment are:
• Define total rewards and describe the advantages of a total rewards approach.
• Analyze an organization's strategy, workforce, operating environment, and key stakeholders to identify critical factors in designing a total rewards strategy.
• Evaluate the elements of a total rewards communication program.
• Use technology and information resources to research issues in total rewards.
• Write clearly and concisely about total rewards using proper writing mechanics.
Discussion question:
• Analyze how conducting regular job analyses benefits employees, managers, and the organization. Describe how this type of benchmarking can strengthen an overall job analysis plan.
• Using the Sample Job Analysis, create a job description for your current or most recent position. Justify how you selected the task components of the position and the organization of the components in order of priority.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.