Improved Rewards

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New and Improved Rewards at Work HRM 533 Total Rewards Professor Jean Gordon June 14, 2013 Determine how innovations in employee benefits can improve the overall competitive compensation strategy of the organization. An essential piece of any organization today is the organizations total rewards package. The total rewards package is used to motivate, retain and attract employees to an organization. There are certain benefits mandated by government and those include; social security, unemployment compensation and workers compensation. Other than those listed previously there are many different things offered by organizations covering five different areas. They are affiliation, content, career, indirect and direct financial types…show more content…
Employees whose primary job is to sit in front of a computer for extended period of time might be offered a more inclusive vision plan and a reduced or free gym membership there by showing the employee that the organization truly cares about their health and well being. Employees can choose to take advantage of the better vision care and the free or reduced rate gym membership but that is there choice the employee has offered these extra benefits because there job could impair there eyesight or not allow them to be as…show more content…
Employees who are happy and engaged are critical business performance. Unfortunately in today’s business world traditional total rewards programs don’t drive employee engagement or happiness any more. Innovative and creative benefits should provide employees with intangible rewards to satisfy the employee’s needs and desires. Satisfied employees are not only happier at work but their productivity is usually far greater than unsatisfied employees. Most organizations are smart enough to realize that it takes more than just money to motivate and make happy employees. The primary components of traditional pay systems are salaries and health benefits. Above and beyond offering competitive salaries and health benefits, organizations should offer their employees’ flexible, customizable benefit plans which could be tailored to each employees individual need. For example, at the City of Jeffersonville, employees are encouraged to bring their dogs to work on Fridays and take them to the dog park to enjoy a nice day at the park during lunch. “These benefits are the unique and proprietary way of attracting, retaining and motivating employees” (Christofferson & King,

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