Total Rewards Package Strategy Research essay

Posted: September 26th, 2022

Objective:

Recommend a strategy (6 pages) for improving a total rewards package for FFH in order to be competitive with other employers and to positively support recruitment and retention initiatives.

Requirements:

– 12-point Times New Roman Font

– 6 single spaced pages, in addition to the reference pages

– At least two academic, scholarly, or professional resources

– APA format

Instructions:

FFH is concerned about the competitiveness of its total rewards package. Most store managers and supervisors have been with FFH for over 20 years and have been very satisfied with their compensation. However, while interviewing prospective candidates, the company is getting indications that their total rewards package is not equal to their competitors. You are being tasked with recommending a strategy for improving FFH’s total rewards package in order to increase competitiveness with other businesses and to positively support recruitment and retention initiatives. 

Include the following in your total rewards package strategy for HR management and organizational leaders:

• Analyze components to include in the total rewards package. This analysis should include salary and benefits as well as areas beyond compensation. Should FFH or your selected organization lead the market, pay at market rates, or lag behind the market? To move toward the broader definition of total rewards, what two other components should be considered?   
• Compare the salary and benefits components with adding an incentive compensation package. Is there a benefit to including a bonus, commission, or profit sharing as part of FFH’s total rewards package?
• Explain what legal compliance requirements FFH should consider when creating a total rewards package.
• Recommend a total rewards package strategy for FFH’s management. Do cultural and inclusive practices that support a diverse workforce impact your recommendations? Justify the components you are including.  

      This was was a sample HR essay instructions. We proudly aced the paper and the client received an A grade paper!Incase you are struggling with a similar essay, feel free to order a paper from us!

Search websites with pertinent data sources, including the following, for general salary information. Research other career-focused websites for benefits information.

• U.S. Department of Labor, Employment and Training Administration. (n.d.). O*Net online.https://www.onetonline.org/
• Bureau of Labor Statistics. (n.d.). Databases, tables and calculators by subject. https://www.bls.gov/data/#employment