Gilead Science, Inc.’s Total Rewards Program
Introduction and Purpose This report describes Gilead Science, Inc.’s total rewards program. This includes the company’s capabilities, key goals, objectives, challenges, values, and core competencies that are required for the company to be successful. Knowledge of the company’s total rewards model is explained with its current total rewards philosophy, as well as its three categories of offerings. Segmentation of the workforces is identified and described. Current requisite capabilities of the company, and the competencies (which include its knowledge, skills, and abilities) of the employees are shown and analyzed to see whether the current needs change because of issues the company is facing. …show more content…
Gilead Sciences, Inc. supplies physicians with the resources they need to take better care of their patients by quickly and efficiently discovering and developing innovative therapeutics (2013). Gilead Sciences Inc. (2013) explains that they work together with patient advocates to design drugs to improve treatment plans and implements effective patient assistance programs to ensure the efforts help meet the needs of patients and their caregivers. These three challenges, if not monitored and controlled, could cost the company contracts with physicians, lose funding for its research and development program, and lose credibility. Companies in this market must be competitive to attract business. Winning the race to find the cure for HIV/AIDS could mean a huge leap in creditability, gaining a much larger market. On the other hand, losing could cost the company …show more content…
To evaluate the success of the new program, current policies are to be reviewed, varies surveys are to be conducted, as well as focus groups are to be formed. Applying checks and balances to ensure the company is not over-spending on total rewards. To plan for this, the company needs to conduct research through its annual reports, using metrics 1 benefit or program costs per employee (All metrics are located in Appendix A).
Justification for recommendation: Knowing how much employee benefits cost Gilead Sciences, Inc. helps the organization to determine, whether they can add more benefits to the total rewards program, or if they can afford to continue to offer their current benefits. Knowing what rewards employees are using, as well as the ones their not using. A survey is to be used to show if the company is offering rewards that appeal to employees. The information is to be used on metrics 2 utilization
Introduction and Purpose This report describes Gilead Science, Inc.’s total rewards program. This includes the company’s capabilities, key goals, objectives, challenges, values, and core competencies that are required for the company to be successful. Knowledge of the company’s total rewards model is explained with its current total rewards philosophy, as well as its three categories of offerings. Segmentation of the workforces is identified and described. Current requisite capabilities of the company, and the competencies (which include its knowledge, skills, and abilities) of the employees are shown and analyzed to see whether the current needs change because of issues the company is facing. …show more content…
Gilead Sciences, Inc. supplies physicians with the resources they need to take better care of their patients by quickly and efficiently discovering and developing innovative therapeutics (2013). Gilead Sciences Inc. (2013) explains that they work together with patient advocates to design drugs to improve treatment plans and implements effective patient assistance programs to ensure the efforts help meet the needs of patients and their caregivers. These three challenges, if not monitored and controlled, could cost the company contracts with physicians, lose funding for its research and development program, and lose credibility. Companies in this market must be competitive to attract business. Winning the race to find the cure for HIV/AIDS could mean a huge leap in creditability, gaining a much larger market. On the other hand, losing could cost the company …show more content…
To evaluate the success of the new program, current policies are to be reviewed, varies surveys are to be conducted, as well as focus groups are to be formed. Applying checks and balances to ensure the company is not over-spending on total rewards. To plan for this, the company needs to conduct research through its annual reports, using metrics 1 benefit or program costs per employee (All metrics are located in Appendix A).
Justification for recommendation: Knowing how much employee benefits cost Gilead Sciences, Inc. helps the organization to determine, whether they can add more benefits to the total rewards program, or if they can afford to continue to offer their current benefits. Knowing what rewards employees are using, as well as the ones their not using. A survey is to be used to show if the company is offering rewards that appeal to employees. The information is to be used on metrics 2 utilization