Total Rewards Design

In this assignment, you will investigate an organizational issue related to compensation philosophy. In this assignment, you will demonstrate skill in identifying and using credible and reliable sources of information.

This assignment assesses the following Module 4 learning objectives:

=>Identify and describe a total rewards philosophy;

=>Explain why a total reward approach to benefit program and compensation design is strategically important to employers;

=>Distinguish between different labor market segments and how total rewards design can impact recruiting and retention;

=>Demonstrate an understanding of the relationship between compensation philosophy, benefits selection, and employer branding, recruiting, and retention; and

=>Demonstrate skill in identifying and using credible and reliable sources of information.

Issue

You are the new HR Manager at a mid-sized employer with moderate financial resources in Central Texas. This employer is a federal contractor with contracts at Fort Hood Texas. Your primary source of qualified labor is military veterans. As the new HR Manager, you would like to link the organization’s compensation philosophy with the benefits and work environment to create a total reward approach to compensation management that will help you attract and retain qualified employees. To do this you will need to do some basic research related to best companies to work for as potential benchmarks.

Assignment Response, provide a written response to the following:

• Essay 1: Describe a total reward philosophy and explain why a total reward approach to benefit program and compensation design is strategically important to employers.
• Essay 2: Explain how compensation philosophy and benefit selection impact employer branding, recruiting, and retention.
• Essay 3: Identify an employer of choice for military veterans (not an employer presented in the textbook or videos).
  • Describe their approach to total rewards (what did they include and why).
  • Identify their target labor demographics (who are they trying to attract and retain just veterans or other labor markets).
  • As a mid-sized employer with moderate financial resources, what aspects of their total rewards philosophy may work for your organization and why?
• Inform your response with information from the required readings (Mathis, Jackson, & Valentine, 2014) and at least one other source (your selected employer of choice).