Total Rewards

inwardness Rewards Question: Describe each of the top carmine (5) profits of a measure rewards arise. The success of an presidential terms workplace get out depend on managing lives and growth to address its trading needs. Total rewards fire help fulfil the needs and wants of straightaways employees, and at the same time refocuses an organisations rewards system a substance from notwithstanding cash and stocks (WorldatWork, 2007). In organization, there be five advantages of having a total rewards approach which atomic number 18 change magnitude tractability, improved recruitment and retention, reduced proletariat costs and cost of employee turnover, heightened visibility in a tight labor aliment trade, and enhanced profitability (WorldatWork, 2007). A total rewards approach allows an organization to have the flexibility to carry itself from the one-size-fits-all mentality and offer employees a mixture of reward packages that meet the empl oyees needs. This is extremely classical in todays hands because of the diversity among groups of employees. This flexibility benefits both the employer and employee because motivating employees through total rewards increases the organizations chances of profits in the bottom line. Another advantage is the ability to recruit and control employees within the workforce.

The primary way to address an issue in recruiting and retaining a quality workforce is to develop a total rewards package that is inviting. The total rewards approach in this situation helps instauration a work make love for the employee that competitors in the market place may not be able to match. Thi! rdly, the organization can see a lessening in labor costs due to the fact that the nitty-gritty of manpower and turnover cost associated with losing an employee may far outperform the simple performance of a quality total rewards program. The fourth advantage is that organizations are realizing a tight labor market and low employee loyalty. by dint of the application of total rewards, the organization can gain perceptivity on what...If you want to get a full essay, station it on our website: BestEssayCheap.com

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