Reference no: EM131760899

Before the final steps of implementing the total rewards plan are addressed, the use of segmentation will be described to ensure an understanding, because it is a key activity and perhaps one that is new to some human resource professionals. Segmentation is a term used in marketing (as well as other disciplines) to refer to how the population divides according to differentiating factors. In human resources, the segments can be psychographics (individual personality preferences) such as career goals, desired schedules, and the need or preference for certain benefits or work experience. Segmentation can also be made by demographics, level of the organization, or job function. Segmentation by demographic group can include, for example, men, women, age groups, ethnicity, marital status, or education. Organizations use segmentation of the population to target their marketing efforts to groups of consumers who may purchase products or services. The organization offers unique features in its products or services that the targeted population prefers (for example, minivans for families, pickup trucks for farmers, or alternative fuel vehicles for the cost conscious or environmentally conservative). They also design their marketing efforts to reach the targeted audience by creating advertisements that appeal to the particular segment they are targeting. To communicate the unique features of the product or service, key messages and the medium for the communication are chosen to reach and appeal to the targeted population. In the same way, an organization can segment the internal and external workforce population, determine the unique features (monetary, non-monetary, and work experience) desired by each, and design a total rewards program customized for the individual segments of the organization or the individuals they are seeking to hire. hospital setting as a recruiter.

After reviewing the reading material about the terms differentiation and segmentation, share an example in your own organization of how employees are differentiated or segmented. In addition, share how your organization differentiates itself from its competitors (competitors for employees). Use a minimum of one reference to support your discussion.