Contact Us
Sign In / Sign Up for FREE
Go to advanced search...

Geico - Case Study Example

Comments (0) Cite this document
Name Class Professor Date I. Determine which facets of the Geico total rewards program align with the five (5) top advantages of a total rewards program outlined in Chapter 2 of the textbook and discuss your reasoning.  Rewarding employees is one of the most critical functions of a company not only as an act of remunerating its employees for its work but also as an expression of how it value its most important asset - its people…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER96% of users find it useful
Geico Case Study
Read TextPreview

Extract of sample "Geico"

Download file to see previous pages Such, each company must strive not only to attract talent, but also to retain them as well through a total rewards program. Traditionally, rewarding employees has been equated with pay. Today, it is no longer applicable and “the definition of rewards encompasses the overall value proposition that the employer offers to the employee. It’s a total package that includes compensation (comprising of base pay, short-term incentives and long-term incentives), benefits (including health, retirement and work/life benefits, which account for an increasing portion of the rewards package) and careers (including training and development, lateral moves,stretch assignments and career incentives)” (Morris, nd, pg 6). In the case of Geico (2012), it employed a six facet item as part of its Total Rewards program which include Health and Well-being, Building and Securing Your Financial Future, Time Off and Leave Programs, Family and Life Programs, Education and Development and Amenities and Perks. Many aspect of Geico’s total rewards are consistent or aligned with the lectures in the Chapter 2 of our textbook which are as follows; 1. Increased Flexibility Geico’s reward program is not only tied up with pay. ...
This provides Geico greater latitude to address the needs of its employees that would not keep them but also to make them highly motivated to perform. 2. Improved?recruitment and?retention The range of Geiko’s total reward program is indicative that the company really intends to retain its employees. More especially is the emphasis on family and life programs which very few companies offer as part of its compensation package. This component of Geiko’s total reward program would also be very attractive if not hard to resist among prospective employees who values work-life balance (Guld, 2007). It would also serve as a retention tool among its employees who have families to attend. For Geiko’s part, it would retain its best talent and attract the best talent in the market because of its attractive total rewards program. 3. Reduced Labor Costs/Cost of Turnover Having a flexible reward system designed to retain its employees will have an effect on Geiko’s bottom line in terms of minimal attrition rate, reduced labor cost and low or no cost for turnovers. Opportunity costs associated with labor turnover such as the low learning curve of a new recruit, higher inefficiency and disrupted work will also be avoided. 4. Heightened Visibility in a Tight Labor market One of the big advantages of having a responsive reward program is that employees would not only stay longer in the company but are also motivated to perform. Highly motivated employees performance would resonate to the labor market that a particular company, such as Geiko is a good place to work thus becoming Geiko as a preferred place of work among the best talents in the labor market. 5. Enhanced Profitability All of the ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(“Geico Case Study Example | Topics and Well Written Essays - 1250 words”, n.d.)
Retrieved from
(Geico Case Study Example | Topics and Well Written Essays - 1250 Words)
“Geico Case Study Example | Topics and Well Written Essays - 1250 Words”, n.d.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document


Total Rewards Program Geico

... investment. Reallocating rewards in a cost effective not only increases value of the program but increases profitability also. In the case of Geico, Education & Training, Health & Well-Being and Finance & Retirement are three key facets addressing all the advantage of Total Rewards Program. 2.1 Advantage 1 Finance & Retirement plan of Geico includes traditional plans (associate can select investment pattern and can also manage their account through Vanguard Web site), Profit Sharing Plan, Insurance plan (life and accident insurance) and assistance program for associates. These huge collections of benefits give the flexibility to associate to select remuneration package in accordance to their requirement. 2.2 Advantage 2 & 3 Education...
5 Pages(1250 words)Case Study

Geico Car Insurance Company

...Geico Car Insurance Company The post entails a satisfied and loyal customer to Geico Car Insurance Company. He feels satisfied based on good customer’s relations resulting from better friendliness approach employed by the Company to convey informative services. A company has to serve the best interest of its customers so as to gain customers loyalty and survive in a competitive environment. Such a company must appreciate the need to explain every fine detail a customer ought to know stretching beyond to advisory role guided by high levels of honesty. Customers feel satisfied when post-purchased evaluation is conducted. Real experience such as the Company chipping in to help customer during losses of property amplifies loyalty. Firms...
1 Pages(250 words)Case Study

Motivation and Leadership at GE

... Motivation and Leadership at GE Secion About the Organization While shining examples of companieswhich are able to outperform the competition as well as provide an excellent environment for their workers can be found in small companies, it seems that only larger organizations will have an effect on the generally accepted business practices for things such as motivation and leadership in business. In terms of size, GE is one of the largest companies in the world but not only is it large, it is also respected globally as a beacon for good management practices. In fact, no company in the world across any business in any place is as well esteemed and appreciated as GE (Demos, 2006). Throughout its life, and more so in recent years... Motivation...
11 Pages(2750 words)Case Study

A Marketing Plan for TESCO

...A Marketing Plan for TESCO March 18, 2008 I. Executive Summary TESCO is one of the leading retail chains in the worldwide market. As a British-based company, it occupies the leading slot in its industry as it continuously aim to achieve global leadership by strategic marketing and expansion plans in the years to come. TESCO’s first store opened in 1929 in Middlesex (TESCO. 2007) but started growing in terms of expansion and acquisition in the 50s and 60s. Over the years, it has experienced changes in management and in management directions. It experimented on various strategies to be able to conquer the market. Finally, in 1995, it was able to reach the top spot in UK’s supermarket industry. At present, TESCO wishes to reaffirm...
8 Pages(2000 words)Case Study

Language Learning Strategies of Listening Comprehension

...Do meta-cognitive Language Learning Strategies assist in the SLA of listening comprehension? Learning Disabilities Even though most researchers agreeabout the characteristics of learning disabilities, there is a disagreement about what should or should not be included in the definition of learning disabilities. While there is some agreement about these general topics, there is continued disagreement in the field about diagnostic criteria, assessment practices, treatment procedures, and educational policies for learning disabilities. A number of influences have contributed to these disagreements, which in turn, have made it difficult to build a generalized body of scientific and clinical knowledge about learning disabilities... meta-cognitive...
10 Pages(2500 words)Case Study

Macro and Micro Environmental Factors in the Organization of Tesco

...A critical analysis the impacts of macro and mirco environmental factors to the organization of Tesco and the marketing mix decisions. All organizations are open systems; they exist within a dynamic and complex environment having a variety of interchanges with it, both receiving inputs and outputs. Companies try to control the nature of their output but very few of them can control more than a few of the inputs they receive. Hence organizations try to predict, in future, the changing environment in which they are working and in result they make strategies to combat such changing environment. Successful organizations tend to such things and hence positive results follow. The organization that I have chosen is TESCO, which is a well...
10 Pages(2500 words)Case Study

TESCO: Forecasting Financial Statements

...TESCO – FORECASTING FINANCIAL MENT There are many business entities that operate in this world to earn revenues for their respective owners. Shareholders are the basic owners of companies whose stocks are traded at stock exchanges. Shareholders usually invest their money into an organization hoping to receive good return on their investments. These organizations are operated by their respective managements and usually the management has its own interest above that of the shareholders. Thus to give a proper financial proof of the organization’s operation they (the management) are required to produce up-to-date financial statements. These financial statements give a proper understanding to the shareholder, owners and other potential...
7 Pages(1750 words)Case Study

Organizational Behavior in Tesco Plc

...Organisation Behaviour Table of Contents Introduction 3 Work Motivation 4 Job Design 6 Organisational Goal & Structure 7 Leadership Management 9 Conclusion 10 References 11 Bibliography 12 Introduction Organisational behaviour is one of the most important aspects of a modern day organisations and it is more prevalent in the retail sector. Tesco Plc is one the largest retailer in both the domestic market of United Kingdom as well as international market. Tesco started its trade in the year of 1919 and was founded by Jack Cohen. Tesco specialises in food & drink, but it had diversified into clothing, electronics, financial services, telecom, etc. Tesco is committed to corporate social responsibilities & contributed 1.87... Behaviour Table...
7 Pages(1750 words)Case Study

Interest Rate Effects on the Tesco Company

...Executive Summary This memorandum looks at the current status of major economies of the world, probable trajectory of policy decisions, and the ensuing impacts on corporate business houses. The prime focus of this presentation is to enable the board to make informed decisions and adopt pragmatic, viable and promising business paths to navigate TESCO to greater success. Due consideration has been given to macroeconomic policies, inflation trends, exchange rates and political lobbying that might have deep impacts on corporate economies. Greater focus has been laid on the US, UK and Eurozone economies. However due consideration has been accorded to West Asian, Indian, African and other developing economies. Volatile Environs... Summary This...
15 Pages(3750 words)Case Study

Overview of Mexico Country

...Mexico country Overview of Mexico Country According to BBC , Mexico is also officially called the United Mexican States. It is a federal country and republic in North America and U.S border it to the tundra. Covering nearly 2 million Square kilometers, Mexico country is the fifth biggest nation by area in the American continents and the 13th largest and independent nation worldwide. With a population estimation of about and over 113 million, Mexico is the eleventh record densely populated country in the world and the second record populous country in the Latin America. The United Mexican States is a federation consisting of the Federal District, its largest and capital city and thirty-one states (BBC, 2012). The federal... country Overview...
9 Pages(2250 words)Case Study
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Case Study on topic Geico Case Study for FREE!

Contact Us