Assignment 3: Total Rewards System Proposal
Due Week 7 and worth 250 points
This research-based assignment focuses on the latest available information about creating, organizing, and managing a total rewards program. As the HR leader for your organization or a fictitious profit organization that employs 10,000 employees, your task is to create the organization’s total reward system. You will also brief the CEO on your strategy.
Write an eight to ten (8-10) page paper in which you:
- Create a brief overview of the company requirements for a total rewards system. NOTE: You have flexibility in creating your overview of the requirements but the response must be relevant.
- Formulate a total rewards strategy to encompass the fundamentals of compensation and the regulatory environments. NOTE: This is just your strategy for compensation (not the entire total rewards package) and the appropriate compliance concerns.
- Explain the advantages of the total rewards strategy you are proposing (this time, the entire total rewards package) and how it might satisfy the employees’ needs.
- Determine the key communication components (basic framework) of the total rewards system. See pages 57-59 in the textbook.
- Indicate your strategy for devising a competitive pay structure. **The textbook has plenty of information on this topic.**
- Use at least five (5) quality academic resources in this assignment. Note: Wikipedia and other Websites do not quality as academic resources. Consider https://research.strayer.edu
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:
- 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.