Assignment 3: Total Rewards System ProposalDue Week 6 and worth 250 points
This research-based assignment focuses on the latest available information about creating, organizing, and managing a total rewards program. Envision a service-based (insurance, telemarketing, or other) profit organization that employs 20,000 employees in 17 different countries. There are 2,000 management-level individuals who speak a variety of languages. The company employs diverse individuals who are governed by multiple regulatory environments.
Write an eight to ten (8-10) page paper in which you:
Create a brief overview of the company requirements for a total rewards system.
Formulate a total rewards strategy to encompass the fundamentals of compensation and the regulatory environments.
Explain the advantages of the total rewards strategy you are proposing and how it might satisfy the employees’ needs.
Determine the key communication components of the total rewards system.
Indicate your strategy for devising a competitive pay structure.
Use at least five (5) quality academic resources in this assignment. Note: Wikipedia and other Websites do not quality as academic resources.
Your assignment must follow these formatting requirements:
Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.
Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.
The specific course learning outcomes associated with this assignment are:
Define total rewards and describe the advantages of a total rewards approach.
Analyze an organization’s strategy, workforce, operating environment, and key stakeholders to identify critical factors in designing a total rewards strategy.
Evaluate the elements of a total rewards communication program.
Use technology and information resources to research issues in total rewards.
Write clearly and concisely about total rewards using proper writing mechanics.