Total Rewards System Proposal

Business Finance

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 (8-10) 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 (5) quality academic resources in this assignment. Note: Wikipedia and other Websites do not quality as academic resources.

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.

Grading for this assignment will be based on answer quality, logic / organization of the paper, and language and writing skills, using the following rubric:

Points: 250

Assignment 3: Total Rewards System Proposal

Criteria

Unacceptable

Below 70% F

Fair

70-79% C

Proficient

80-89% B

Exemplary

90-100% A

1. Create a brief overview of the company requirements for a total rewards system.

Weight: 15%

Did not submit or incompletely created a brief overview of the company requirements for a total rewards system.

Partially created a brief overview of the company requirements for a total rewards system.

Satisfactorily created a brief overview of the company requirements for a total rewards system.

Thoroughly created 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.
Weight: 15%

Did not submit or incompletely formulated a total rewards strategy to encompass the fundamentals of compensation and the regulatory environments.

Partially formulated a total rewards strategy to encompass the fundamentals of compensation and the regulatory environments.

Satisfactorily formulated a total rewards strategy to encompass the fundamentals of compensation and the regulatory environments.

Thoroughly formulated 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.

Weight: 15%

Did not submit or incompletely explained the advantages of the total rewards strategy you are proposing and how it might satisfy the employees’ needs.

Partially explained the advantages of the total rewards strategy you are proposing and how it might satisfy the employees’ needs.

Satisfactorily explained the advantages of the total rewards strategy you are proposing and how it might satisfy the employees’ needs.

Thoroughly explained 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.

Weight: 20%

Did not submit or incompletely determined the key communication components of the total rewards system.

Partially determined the key communication components of the total rewards system.

Satisfactorily determined the key communication components of the total rewards system.

Thoroughly determined the key communication components of the total rewards system.

5. Indicate your strategy for devising a competitive pay structure.

Weight: 20%

Did not submit or incompletely indicated your strategy for devising a competitive pay structure.

Partially indicated your strategy for devising a competitive pay structure.

Satisfactorily indicated your strategy for devising a competitive pay structure.

Thoroughly indicated your strategy for devising a competitive pay structure.

6. 5 references

Weight: 5%

No references provided

Does not meet the required number of references; some or all references poor quality choices.

Meets number of required references; all references high quality choices.

Exceeds number of required references; all references high quality choices.

7. Clarity, writing mechanics, and formatting requirements

Weight: 10%

More than 6 errors present

5-6 errors present

3-4 errors present

0-2 errors present