Geico Case Study

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Geico Case Study Table of Contents 1.0 Total Rewards Program 3 1.1 Compensation 3 1.2 Benefits 3 1.3 Work-life 3 1.4 Performance & Recognition 3 1.5 Development & Career Opportunities 4 2.0 Case Analysis 4 2.1 Advantage 1 5 2.2 Advantage 2 & 3 5 2.3 Advantage 4 6 2.4 Advantage 5 6 3.0 Strategy Map 6 4.0 Effectiveness of Website Communication of Geico 8 5.0 Improvements for Geico’s Total Rewards Program 9 References 11 1.0 Total Rewards Program Research report shows that total reward program offers more benefits in contrast to traditional performance appraisal system. Frederick Hertzberg has identified six motivators such as advancement, work itself, growth, responsibility, recognition and achievement affecting job attitude of employee. Total reward program includes other ten hygiene factors and six motivators’ altogether to develop a sustainable reward system. The concept of total reward has significantly revamped over last few years. Five key components of total reward program can be briefed in the following manner. 1.1 Compensation Compensation system Total Rewards Program relies on four verticals such as fixed pay, variable pay, short term incentive pay and long term incentive pay. 1.2 Benefits According to Total Rewards Program there can be four types of benefits such as Pay for Time Not Worked, legal facility, Health & Welfare and Retirement. 1.3 Work-life Total Rewards Program includes seven categories such as work place flexibility, paid and unpaid time off, health & wellness support, community involvement, caring for dependents, culture change initiative and financial support in order to support work life effectiveness. 1.4 Performance & Recognition Performance of an employee depends on

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