HRM 533 Assign 4

 

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Assignment 4: New and Improved Rewards at Work

Employers  have been coming up with innovative employee rewards to boost morale  and acknowledge employee needs for creativity and personal goal  accomplishment. Some of the latest potential employee rewards include  using the Internet at work for personal reasons such as shopping,  communicating with friends, or personal finances; bringing a pet to  work; instituting a controlled napping policy, and the sports and office  betting pools.  

Write an eight to ten (8-10) page paper in which you: 

  1. Determine how innovations in employee benefits can improve the overall competitive compensation strategy of the organization. In other words, if your benefits programs have been improved, how will that improve the company’s compensation strategy?   
  2. Explain  how innovative benefits could be tied to specific jobs. More  specifically, how do the benefits programs help attract talent for  specific jobs? HINT: View information at https://www.workforce.com/2016/09/14/tie-comp-performance-management-attract-keep-employees/ and information in the textbook.   
  3. Critique  (or assess) the effectiveness of equity-based rewards systems for both  compensation and benefits. Why do you believe companies use equity to  reward employees and is that approach effective?   
  4. Discuss the key elements of integrating innovation into a traditional total rewards program. In other words, in your current total rewards program what elements might you use to integrate innovation solutions to it?   
  5. Recommend  a process that optimizes an employee-based suggestion program to  continually refresh the total rewards of the organization.   
  6. Use  at least five (5) quality academic resources in this assignment. Note:  Wikipedia and other Websites do not quality as academic resources.  

Your assignment must follow these formatting requirements:

  • Be  typed, double spaced, using Times New Roman font (size 12), with  one-inch margins on all sides; citations and references must follow APA  or school-specific format. Check with your professor for any additional  instructions.   
  • Include  a cover page containing the title of the assignment, the student’s  name, the professor’s name, the course title, and the date. The cover  page and the reference page are not included in the required assignment  page length.  

The specific course learning outcomes associated with this assignment are:

  • Analyze  an organization’s strategy and integrate pay-for-performance plans and  total rewards into a compensation strategy that will motivate desired  behavior and improve job performance.   
  • Explain a benefit plan as part of an overall competitive compensation strategy and the policies to administer the benefits.   
  • Use technology and information resources to research issues in total rewards.   
  • Write clearly and concisely about total rewards using proper writing mechanics.  

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