Case Study: Geico

1428 WordsMar 14, 20156 Pages
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. As communities continue to grow so does the diversity within those communities. With so many different people from all different walks of life enter the workforce, companies are seeing a huge increase in the diversity of their employees. It’s no longer just one particular group of people who are the driving force in companies but there are many different types of people to include single mothers, different races, religions and others with a wide array of backgrounds and personal situations. Having a diverse workforce should not be greeted with…show more content…
Once I have a clear inventory, ranking all of these perks and benefits is essential. Everything needs to be ranked as to its success and by what employees are showing that they value the most in their total rewards program. This helps to give a clear idea of which benefits are most useful and which are a waste of time. According to (Mrkvicka, 2014, p. 2), “organizations continue to review and evaluate the total rewards programs they have in place to understand the return on investment for this area of significant cost. Going forward, the best companies will continuously evaluate whether specific rewards programs are good fits for their employees, gauging the value the employees place on the benefits”. Finally, linking the benefits to the business strategy of the company. Are the benefits being offered not only a great benefit for employees in their personal lives but do they also help to further the mission and goals of the company? An example of this would be does the education benefits offered not only help the employee but also the business? Are employees offered more incentive to participate in educational classes and degrees that will help further their careers while also benefiting the company? These are important factors to look at when analyzing and creating a total rewards program that is beneficial to all involved.
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