The Total Rewards Program

1997 WordsFeb 1, 20188 Pages
Organization Overview This paper will discuss the total rewards program. This company is a beverage and bottling company that has been in business for over 100 years. Currently we operate in about 3 continents and in about 20 different countries all over the world. SZT Corp is the home to over 20,000 employees with about 2,000 management-level employees worldwide. Armstrong (2012) affirms that definitions of total rewards characteristically includes not only traditional, quantifiable elements such as salary, variable pay and benefits but comprises also more intangible non-cash components such as gaining knowledge, ability to acquire and act or take responsibility, progress in career, and the conducive environment provided by the organization. SZT Corp requires a pretty complex and flexible total rewards program to meet the needs of their multi-national colleagues. The total rewards programs has to slightly vary for each country that SZT Corp operates in and must cover compensation, benefits, performance and recognition, learning and development, and a work-life balance. SZT Corp has to maintain a total rewards program that remains competitive with the competitors in the different nations all over the world. Total Rewards Strategy In order to meet the HR needs of this company, HR must accomplish the elements discussed in the succeeding paragraphs that address the fundamentals of this type of total rewards system while complying with the regulatory environments. The
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