Elements of the TR Model
1. For each of the elements of the TR model, what would be one practice that you would focus on to attract, motivate, and retain key employees.
2. Briefly present your rationale for this.
3. What would you propose that a comprehensive TR plan could help both managers and employees?
4. How would this reinforce business strategy?
Please number your responses to this question as 1, 2, 3, and 4, accordingly.
1. Describe in your own words what a -compensation philosophy- is.
2. What would be a reasonable compensation philosophy for your organization considering today's economy and labor market?
Please number your responses to this question as 1 and 2, accordingly.
DQ 4: The Salary Range
1. What is the purpose of the salary range?
2. What is the meaning of the minimum, the mid-point, and the maximum of the salary range?
3. What is occurring when employees are -green circled-, and what is occurring if many employees are green circled? Why does this happen? What is the problem with this in the short term and long term? What should you do to avoid this situation?
4. What is occurring when employees are -red circled-? What is the problem with this in the short term and long term? What should you do to avoid this situation?
Please number your responses 1, 2, 3, and 4, accordingly.
Discussion Assignment: Designing a TR plan
You are considering developing a new Total Rewards (TR) plan for the executive team in your organization. Develop your game plan, including the creation of an original graphic, flow chart or -wheel- model that describes how you would go about doing this. This would be a document that you would present to your organization's senior leadership to seek their approval to undertake this effort. You should include such elements such as:
A. Discerning the environment
B. Employee population
C. How you would build support for this plan
D. Other pertinent actions from this week's reading.
Display this on a Word document and attach to your thread response. The attachment must include a cover/title page.
Do not copy-and-paste existing models, graphics, or images. This is something you need to create yourself for this assignment.