A Company 's Total Rewards Program

1227 WordsMar 23, 20175 Pages
A company’s total rewards package should be strategically focused to align with company culture and values. HR professionals should work with organizations to create a holistic and integrated total rewards program. As business objectives and priorities evolve HR professionals should work to make sure the company rewards program stays relevant and attractive. Creating and successfully executing the company total rewards package requires HR staff who are knowledgeable of market rates and trends. There are many ways to measure the perceived success of a company’s rewards program; I believe attrition rates and performance management are key metric to use to decipher total program value. Attrition rates are key data used to gauge the value of…show more content…
By performing quantitative analysis using key metric data HR professionals are ensuring that the company total rewards program aligns with the company mission and objective. Emphasis should be placed on rewards package delivery to ensure that rewards are clearly communicated throughout the organization. With metric data and reporting HR professionals can closely identify areas where improvement is needed. A successful total rewards program increases the productivity, engagement and loyalty of employees; contributing to the success of the organization. HR professionals should focus attracting and retaining top talent with a total rewards package that distinguishes them from other organizations. Yes, it is possible for HR practitioners to be an effective advocate for both employees and the organization. Skilled HR professionals are needed to keep up with rapid changing workforces. HR professionals that can speak to both the employees and the organization is critical. Advocating for the employee while keeping business objectives in mind can be achieved by maintaining a balance on both sides. Facilitating open and transparent conversations between management and employees helps to ensure that both parties clearly understand the needs and priorities of the other. Human Resource Management has changed from the traditional personnel management administration to become an integral part of strategic management in
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