Assignment 4
Hailey Morgan Winkler
Texas A&M University – Central Texas
Author’s Notes
Instructor: Dr. Rebecca McPherson
Course: MGTK 302-120 – Personnel/Human Resource Management
Assignment 4 Total Rewards Design
Total Rewards Philosophy To interest and keep superior talent, companies create incentive packages that will appeal to an assortment of people. Companies address pay and benefits with a total rewards philosophy. The total rewards package contains all forms of benefits, the monetary and nonmonetary rewards provided by a company to entice, inspire, and maintain employees. An operative total rewards approach balances the benefits and expenses of the company with the necessities and anticipations of employees. (Mathis, …show more content…
Employee fulfilment with payment is affected by how closely their individual beliefs mesh with the company’s beliefs and how closely the company’s actions follow its specified beliefs. There are two simple benefit philosophies that are found at opposite ends of a scale. At one end of the scale is the entitlement philosophy, and at the other end is the performance philosophy. Most compensation structures fall somewhere in between the two. The entitlement philosophy assumes that employees who have worked one more year are eligible for a pay increase with minimal concern for routine changes. A pay-for-performance philosophy assumes that compensation decisions imitate presentation variances. (Mathis, Jackson, & Valentine, 2014) A company’s philosophy shows an employee what they are all about and it helps with branding, recruiting, and retention. In order to get your companies name out into the public you have to think about what your company stands for and how you want others to portray your business. If an individual respects your brand that will assist in recruiting because they are going to want to work for you. If an individual does not believe in the brand this could cause …show more content…
Veterans Magazine’s “Top Veteran-Friendly Companies.” They have a devoted recruitment team for each major branch of service: Army, Navy, Air Force, Marines, and Coast Guard. They want to make sure the transition from military to civilian life be as simple as possible. That is why they offer career services to veterans and their spouses. They also provide mentoring programs, host career fairs and offer discounts. Veterans and family also qualify for military specific benefits like Enhance Military Leave program and flexibility during deployments and relocations. (Service Members, 2014) Veterans are the best trained workforce in the world, they know how to operate the most advanced technology in some of the most difficult environments, and they can adapt to any situation, lead teams, and deliver results. The CEO Lowell McAdam served in the United States Navy. Verizon doesn’t just thank veterans they hire them. I think Verizon is doing a wonderful job implementing their total rewards philosophy for veterans and as the HR manager I intend to do the same for my compnay but I think I would also try to conduct a support group for veterans. They have been through so much in their life that it would be beneficial to make friends with other coworkers that are also veterans. This will help bring my employees closer together and potentially help them with any issues they might be having outside of work related to
Hailey Morgan Winkler
Texas A&M University – Central Texas
Author’s Notes
Instructor: Dr. Rebecca McPherson
Course: MGTK 302-120 – Personnel/Human Resource Management
Assignment 4 Total Rewards Design
Total Rewards Philosophy To interest and keep superior talent, companies create incentive packages that will appeal to an assortment of people. Companies address pay and benefits with a total rewards philosophy. The total rewards package contains all forms of benefits, the monetary and nonmonetary rewards provided by a company to entice, inspire, and maintain employees. An operative total rewards approach balances the benefits and expenses of the company with the necessities and anticipations of employees. (Mathis, …show more content…
Employee fulfilment with payment is affected by how closely their individual beliefs mesh with the company’s beliefs and how closely the company’s actions follow its specified beliefs. There are two simple benefit philosophies that are found at opposite ends of a scale. At one end of the scale is the entitlement philosophy, and at the other end is the performance philosophy. Most compensation structures fall somewhere in between the two. The entitlement philosophy assumes that employees who have worked one more year are eligible for a pay increase with minimal concern for routine changes. A pay-for-performance philosophy assumes that compensation decisions imitate presentation variances. (Mathis, Jackson, & Valentine, 2014) A company’s philosophy shows an employee what they are all about and it helps with branding, recruiting, and retention. In order to get your companies name out into the public you have to think about what your company stands for and how you want others to portray your business. If an individual respects your brand that will assist in recruiting because they are going to want to work for you. If an individual does not believe in the brand this could cause …show more content…
Veterans Magazine’s “Top Veteran-Friendly Companies.” They have a devoted recruitment team for each major branch of service: Army, Navy, Air Force, Marines, and Coast Guard. They want to make sure the transition from military to civilian life be as simple as possible. That is why they offer career services to veterans and their spouses. They also provide mentoring programs, host career fairs and offer discounts. Veterans and family also qualify for military specific benefits like Enhance Military Leave program and flexibility during deployments and relocations. (Service Members, 2014) Veterans are the best trained workforce in the world, they know how to operate the most advanced technology in some of the most difficult environments, and they can adapt to any situation, lead teams, and deliver results. The CEO Lowell McAdam served in the United States Navy. Verizon doesn’t just thank veterans they hire them. I think Verizon is doing a wonderful job implementing their total rewards philosophy for veterans and as the HR manager I intend to do the same for my compnay but I think I would also try to conduct a support group for veterans. They have been through so much in their life that it would be beneficial to make friends with other coworkers that are also veterans. This will help bring my employees closer together and potentially help them with any issues they might be having outside of work related to