Milestone #2 – Critical Element: Total Rewards
Develops a total reward system that encourages proper behavior and rewards appropriate employees
As noted in the PowerPoint presentation video for Milestone #2, the WorldatWork website has an informative graphic that clearly represents “total rewards.” Here is the url: https://www.worldatwork.org/aboutus/html/aboutus-whatis.jsp
Located on that website is the following information. I have noted my guiding questions in blue font. The six elements of total rewards that collectively define an organization’s strategy to attract, motivate, retain and engage employees are:
Compensation: Pay provided by an employer to its employees for services rendered (i.e., time, effort, skill). This includes both fixed and variable pay tied to performance levels.
Benefits: Programs an employer uses to supplement the cash compensation employees receive. These health, income protection, savings and retirement programs provide security for employees and their families.
Work-Life Effectiveness: A specific set of organizational practices, policies and programs, plus a philosophy that actively supports efforts to help employees achieve success at both work and home.
Recognition: Either formal or informal programs that acknowledge or give special attention to employee actions, efforts, behavior or performance and support business strategy by reinforcing behaviors (e.g., extraordinary accomplishments) that contribute to organizational success.
Performance Management: The alignment of organizational, team and individual efforts toward the achievement of business goals and organizational success. Performance management includes establishing expectations, skill demonstration, assessment, feedback and continuous improvement.
Talent Development: Provides the opportunity and tools for employees to advance their skills and competencies in both their short- and long-term careers.
Milestone #2 – Critical Element: Communication (Benefit Self Service Tecnology)
Explains how to communicate to appropriate stakeholders issues regarding self-service technologies related to benefit programs
Below are my thoughts and experience. These comments should be a springboard for your ideas and research.
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