Reference no: EM132960534

You work for a global professional services firm, which has been seen for decades as an employer of choice. Last month, you were promoted to the position of Vice President, Human Resources. The promotion comes at a time the organization is experiencing a decline in revenues, an increase in competition, high voluntary turnover in the US and abroad, and declining market share. Anecdotal information suggests that the cause of voluntary turnover is due to a poor employee benefits/total rewards strategy, employee engagement and organizational culture. The Chief Executive Officer (CEO) has requested your analysis and recommendations on improving the total rewards strategy in an effort to improve employee engagement; reduce voluntary turnover and enhancing the employer's brand. a. What are specific actions you can initially take to identify and validate how total rewards are having an impact on the organization? Explain your rationale. b. Identify and describe the challenges the organization faces in managing the design, delivery and financing of a total rewards program on a local and global perspective.