Assignment 4: New and Improved Rewards at Work
Due Week 10 and worth 250 points
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:
- 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?
- 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.
- 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?
- 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?
- Recommend a process that optimizes an employee-based suggestion program to continually refresh the total rewards of the organization.
- 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.