Analyze components to include in the total rewards package

Assignment Help Other Subject

Reference no: EM133208492 , Length: Word Count: 6 Pages

Assignment - Total Rewards Package Strategy Essay

Description - FFH is concerned about the competitiveness of its total rewards package. Most store managers and supervisors have been with FFH for over 20 years and have been very satisfied with their compensation. However, while interviewing prospective candidates, the company is getting indications that their total rewards package is not equal to their competitors. You are being tasked with recommending a strategy for improving FFH's or a selected organization's total rewards package in order to increase competitiveness with other businesses and to positively support recruitment and retention initiatives.

Include the following in your total rewards package strategy for HR management and organizational leaders:

Analyze components to include in the total rewards package. This analysis should include salary and benefits as well as areas beyond compensation. Should FFH lead the market, pay at market rates, or lag behind the market? To move toward the broader definition of total rewards, what two other components should be considered?

Compare the salary and benefits components with adding an incentive compensation package. Is there a benefit to including a bonus, commission, or profit sharing as part of FFH's total rewards package?

Explain what legal compliance requirements FFH should consider when creating a total rewards package.

Recommend a total rewards package strategy for FFH's management. Do cultural and inclusive practices that support a diverse workforce impact your recommendations? Justify the components you are including.

Your total rewards package strategy should demonstrate graduate-level writing skills through the accurate communication of thoughts that support a central idea and use of correct grammar and mechanics as expected of a human resources professional.

Reference no: EM133208492

Questions Cloud

Discuss Patient Consent : But what happens when medical treatment a spouse consents to go against the wishes of the biological family?

Explain difference between inductive and deductive reasoning : Explain the difference between inductive and deductive reasoning as presented in "Finding the Good Argument OR Why Bother with Logic"

Describe the generation of the impulse : Describe the generation of the impulse (through the heart) including the anatomical features of the heart that are involved. Relate the impulse movement

Essay about the cardiac impulse generation : Essay about the cardiac impulse generation and conduction - actual innervation of the cardiac muscle and appropriate structures should be considered

Analyze components to include in the total rewards package : Analyze components to include in the total rewards package. This analysis should include salary and benefits as well as areas beyond compensation

Describe the mechanism of breathing : Describe the mechanism of breathing, and make sure to include all the events that cause inspiration and why it is important for the chest wall to expand

List the hormones produced by the hypothalamus : List the hormones produced by the hypothalamus and each lobe of the pituitary, and identify the functions of each hormone and Identify the body's three lines

Most of money was invested in money market funds : Most of the money was invested in money market funds and certificates of deposit. To cover the diversion, treasurer systematically underrecorded income earned.

Impacts of a positive or gainful externality : The impacts of a positive or gainful externality. For instance, the business providing smallpox immunizations is thought to sell in a serious market.

User Account

All Pages