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As the labor force becomes more highly developed and demanding, rivalry between organizations for
talented employees is drastically increasing. It is extremely important that organizations make their
company more enticing as an incomparable career opportunity. Instituting a total rewards system into
an organization can do much to help it invite the paramount talent available and significantly
condense turnover. The longevity of an organization’s employees is contributed to its total reward
system.
An impact analysis
It is important to do an impact analysis but it is a bit challenging. The trial in performing an impact
analysis is to summarize and organize all the possible cost of the decision; and subsequently ensure
that these are managed properly. Brainstorming an impact analysis will give the major areas affected
by the decision and whom or what it might affect (WorldatWork, 2007, p. 19). Lastly, a common
mistake made in implementing a total rewards program is not communicating effectively.
Communication is the key element in any areas whether personal decisions, professional decisions,
and financial decisions. Too much or too little communication has shattered organizations, careers,
broken marriages and created very depressing and desolate outcomes. C-level players should never
regurgitate all information to rank; they should determine the proper information to divulge and when
to deliver it (WorldatWork, 2007, p. 19). Before anything is communicated to rank and file, the
organizations should be designing a total rewards program by obtaining a clear understanding of the
situation through analysis and assessment. A rewards program should be premeditated to balance
the needs of the organization with the desires of the employees. The organization needs to view
compensation holistically to make sure this is feasible. Next, the corporation needs to design a
program that will include the organization’s mission, vision, and the business strategy. It should also
include HR’s philosophy and strategy, the total rewards philosophy statement, and the total reward
strategy. In developing a total rewards program, the conception of total reward embraces all facets of
work that are esteemed by employees, including fundamentals such as training and growth
opportunities and/or an pleasant working environment, additionally to the better pay and benefits
package. One should remember in developing a total rewards program reward strategies are diverse
but should include a declaration of intent, •a rationale setting out the business case for the reward
proposals, a definition of guiding principles, and an implementation plan (Egan, 2011). Every
organization needs an effective communications plan to facilitate and certify the success of the
general business plan. Communications consist of all written, verbal and electronic interactions
between the organization and audiences internally and externally.
The systematizing the communication tools and schemes
A plan will assist in systematizing the communication tools and schemes used to provide the right
information to the right people at the right time. It will facilitate in keeping your stakeholders
knowledgeable and sustain their buy-in and support. An organization should incorporate these eight
steps to develop an effective communication plan. First, analyze the situation by deciding the
organization’s strategic purpose with regard to corporate communications plan. Secondly, define the
objectives by knowing how it connects to your organization’s business plan this should be cognitively,
affectively, and behaviorally. Decide your plan of attack, whether you are going to reinforce retention
and recruitment, increase pay, or promote something else. Steps three and four are connected
because you have to conduct audience research and determine which audiences you want to
influence as well as determine the key message to deliver. The messages link the content of the
communication to its objective. The plan should give a determination as to what, how, when, where,
and to whom to communicate (WorldatWork, 2007, p. 60). Decide which affordable tools you can use
to achieve your goals and articulate your purpose. This goes back to the point aforementioned in
knowing deciding how things will be communicated whether written, verbally or electronically. The
message plan should include what to say, how to say it logically, symbolically and who should say it.
The next steps should include gathering all data to know how the plan will be implemented to include
even the estimated cost of each initiative and how it will be delivered. Once the plan has been
implemented and conveyed, it should institute priorities, deflect eleventh-hour and unsuitable
demands and develop exuberance to the organization (WorldatWork, 2007, p. 62-63). Once all this is
implemented and tested the organization should measure the results. An organization should
remember effective communication with employees is the key in implementing a total rewards
package. The plan as well as the communication of the plan should be delicately planned and
synchronized in order to serve it purpose.
References:
1. Egan, J (2011). Strategic reward and total reward. January 2011. Retrieved from http://www.
cipd. co. uk/hr-resources/factsheets/strategic-reward-total-reward. aspx
2. Heneman, R. L. (2007). Implementing TotalRewards Strategies: SHRM Foundation’s Effective
Practice Guidelines Series. Retrieved from http://moss07. shrm.
org/about/foundation/research/Documents/07RewardsStratReport. pdf
3. Martin, C. (2006). Total Rewards: The Tangibles and Intangibles of Designing a High-Impact
Benefits Package. September 21, 2006. Retrieved from http://www. preceptgroup.
com/company/news/article. aspx? prpri=99. standard
4. Smith, G. P. (2008). Recruitment and Retention Strategies: How to Attract, Keep and Motivate
Today's Workforce. Retrieved from http://www. managerwise. com/article. phtml? id=649
5. WorldatWork. (2007). The WorldatWork handbook of compensation, benefits, & total rewards
Hoboken, NJ: John Wiley & Sons