Problem
You have been appointed to the position of Director of Human Resources Management at Queensland Company Limited.
Design two benefits to be included in the company's Total Rewards Program.
Before designing the benefits, you are required to:
I. You are required to
1. Define Compensation and Total Rewards
2. Explain the pros and cons of a compensation program
3. Explain Internal and External Equity and the importance of both in compensation
II. Design two Indirect Compensation Benefits, a financial and a non-financial using the following steps (the steps must be explained)
1. List the program outline for each benefit
2. List and explain the goals and objectives of each benefit
3. Identify the grade/position that will enjoy each benefit and why the grade/position was chosen
4. Explain the pros and cons of each benefit
5. Describe how the benefits will be communicated to the staff.