Total Rewards: To Infinity & Beyond Motors and More, Inc. – A Path to Success
Jerry Moton, Cassandra Reeves, Faye Singh & Mike Wasilchin 5/31/2014
Table of Contents
Total Rewards Strategy
Total Rewards Strategy Benefits Provided at Motors and More Inc. Currently Motors and More employees receive only statutory employment benefits. Statutory benefits are Social Security, workers’ compensation, unemployment compensation and FMLA leave. Social Security provides retirement and disability income and can supplement unemployment insurance. It is funded by equal contributions between the employer and the employee. Workers’ compensation covers medical costs and employee pay if the employee is unable to work due to a The job analysis is used to create a job description with specific knowledge, skills, and abilities required to perform the job. With that information a job evaluation is conducted to value of each job both internally and externally. Internal values are determined by how the job links to the organizational strategy. This analysis will also job allows managers to link the base pay of similar jobs to create internal equity. Combining of similar jobs into fewer but broader pay ranges, called broadband, provides internal equity while creating a perceived fairness among employees performing similar jobs and in some cases is legally necessary. The external value of each job is determined by what others are paying for similar jobs in both our market area and the industry. This analysis of the competitive market allows the organization to set pay with external equity to either lead, lag, or match the market. Finally, we will determine a pay grade, or a range of pay, for each job. Motors and More Inc. will use a skills-based formula to set pay. This skills-based system will allow Motors and More Inc. the flexibility to reward employees for performing multiple tasks rather than strictly what is written in the job description. This will allow the organization to cross train employees, broadening the employees skill set, provide growth opportunities, and enhance our ability to react quickly to opportunities. Performance management, which will be discussed
Case Study: Geico Assignment 1: Case Study GEICO HRM 533 Linda Matthews April 28, 2013 Dr. Jean Gordon Case Study : Geico 1 1. Determine which facets of the Geico total rewards program align with the five (5) top advantages of a total rewards program outlined in Chapter 2 of the textbook and discuss your reasoning. Geico offers a variety of benefits programs just to name a few would be: medical, dental and vision coverage. This…
Reward and benefit scheme transforms RS Components Integrated program improves employee commitment A new reward and benefits scheme has helped a UK distributor of electronics and maintenance products to improve employee engagement and retention and attract new talent. RS Components Ltd, in common with other UK service industries, was suffering the effects of the economic downturn in 2008. For the 2,600 RS employees in the UK, the downturn meant that around 11 percent were made redundant…
Geico Case Study Aveon Sims For Dr. Larry Byrd HRM533 November 2, 2014 Geico Case Study Advantages to a Total Rewards Approach There are several advantages to using a total rewards approach to compensating the workforce. The top five are described in the text. The following paragraphs discuss the facets of the Geico total rewards program that align with these advantages: The first facet is the health and well-being. This facet aligns with the advantage of increased flexibility. Gieco…
Our assigned case is Aflac. The case is about how this company utilizes its total rewards program to support the firm’s mission and values as well as achieve strategic outcomes. It seems that the approach taken stems from Aflac having had trouble with employee job satisfaction, communication, and retention. The purpose of this case is for us to determine how Aflac implemented and utilized its total rewards program to achieve organizational outcomes. The following is a task breakdown of what we…
many incentives like fringe benefits. This may differ from employee to employee depending on their post. Every organization havedifferent criteria of measuring the performance of the employees. Some involve AMITY INTERNATIONAL BUSINESS SCHOOL Page 17 Total rewardQuality of workWork/life balanceInspiration/values Tangible rewardFutureEnabling environmentEngagedPerformance Everyone want to be recognized for his or her work and their contribution make inthe maintenance, establishment and development of…
education. For the program to reach its goals, we must provide incentives for employees. Motivation and rewards are very much intertwined. When certain conditions exist, reward systems have been demonstrated to motivate performance (Lawler, 1971; Vroom,1964) When workers are given incentives they will strive to do their best at work. The best way to implement this idea is to design a reward system. For example, the employees that are the most successful in…
divided by the total number of sentences to obtain the percentage of times each category was presented. Results The hypothesis of the experiment was that the type of friendship that kids have changes as their age grows. The experiment was done to show that kid’s thoughts on friendship changes as the kids grow up. In the age group of 3-5 years old, there were a total number of 47 sentences said by the 11 kids in the age group. The results showed that 46.8% of the sentences were reward-cost, 23.4%…
Introduction As with any organization, the creation and implementation of a total benefits package is not something that a manager can throw together. There is much to consider and plan before it can be massed out to the organization. After reading the background information, and conducting additional research this SLP will lay the foundation for the Charlie’s Spot-Out Service as it pertains to the total rewards system and his managers/employees. Extending the Plan to Parts Washers? To date…
this is done by making sure the package is competitive and developed with the employee in mind (Ludlow & Farrell, 2010). Compensation and benefits packages or Total Rewards packages need to be based on things like the educational, experience level, performance expectations of the position in question. This narrative will outline a Total Rewards package for a secretary or, as the BLS (2014) identifies them, administrative professional position in the Human Resources Department. The package will be based…
1. How might the reward program described in case exhibit 5 affect the movie and event –going behavior of major market segments? At retail, what is the average value of each reward structure for customer’s dollars spent – 5 %, 10%, 15% or 20%? Which reward structure would you choose? Why? (For the sake of simplicity, ignore the one-time fees and rewards)? The reward programs as depicted in exhibit 5 are evaluated as below in terms of retail value they offer to customers of Cineplex entertainment…
