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Based on DQ1 Potential Problems and Based on DQ2 Six Steps - Assignment Example

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Five ways in which a total rewards program can go astray are: a) trying to reengineer programs in pieces, b) trying to implement changes all at once, c) limiting the number of people involved, d) not doing a thorough impact analysis, and e) not communicating effectively…
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Based on DQ1 Potential Problems and Based on DQ2 Six Steps
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DQ1 Five ways in which a total rewards program can go astray are: a) trying to reengineer programs in pieces, b) trying to implement changes all at once, c) limiting the number of people involved, d) not doing a thorough impact analysis, and e) not communicating effectively (Worldatwork, 2007).
a) Managers cannot make changes to specific variables of a rewards program once is implemented. A way to ensure that there is no need to make changes to variables is by getting it right from the first time. When a program is developed upper management must analyze the program by gaining feedback from the employees prior to implementation. “Feedback is an essential part of learning” (Seun, 2010).
b) Implementing all changes at once is not a wise move. If a program is not working the managers must find ways to make changes, but these changes can not occur all at once because this can lead to information overload for the employees. A timetable must be created to slowly implement the changes to the total rewards program.
c) It is true that during the design process of the total rewards a lot of groups should be involved such as human resources, executives, finance, employees, board of directors, and customers, but the actual implementation should involve a limited number of people. A way to involve different stakeholder groups, but limiting the number of people is by creating a committee. For a committee to be effective it must have well run meetings (Ala).
d) A thorough analysis of the total reward program is needed to ensure the program is viable during both good and bad times. A good strategy to ensure the success of the program during bad economic times is to create an emergency fund that covers at least six months of the total cost of the program. A way to eliminate bias from the process is by hiring a consulting firm to evaluate the program.
e) “Good communication skills are an indispensable asset without which the goals -- be it in any field -- may not be realized” (Buzzle, 2013). Firms must communicate well to their employees the different aspects of the total rewards program. Communication must be made both in verbal and written form.
I completely agree that consistent communication is imperative towards the success of an enterprise. Creating a policy regarding proper communication in the workplace can help open the lines of communication between the workers and the managerial staff. At my place of work communication among the employees is good. Some of the techniques that my company uses to maintain good communication are weekly staff meetings, feedback system, and active listening. The managers at my firm have the respect of the workers because they always treat the employees fairly.
DQ2
The six steps of the creation of a total rewards program are analyze, design, development, implement, communicate, and evaluate. The firm must evaluate both the human resources and monetary implications of the firm. The human capital of a company is its most valuable asset. “The importance of human capital can be seen in terms of productivity that helps move the company closer to achieving its goals, as well as providing the employee with additional resources that can aid in the advancement of his or her career” (Wisegeek, 2013). Things that must be consider during the assessment stage are organizational culture, role of human resources, employer needs, employee needs, budgetary concerns, administrative process, and readiness for change. The second step is design. This step must consider the business strategy, corporate mission, and vision. Also the HR philosophy of the company must be considered. An HR philosophy creates a competitive advantage for all stakeholders through effective people management (Jindalsteelpower, 2013). The third step of the total rewards process is development. The company must determine the purpose and objectives of the program. Decisions must be made to determine how the program will impact the employees. A baseline of how to measure the effectiveness of the program must be created. The fourth step, implementation, is considered the action plan. During this step the HR people must obtain the approval of senior management. An implementation team must be formed. The fifth step is communication. “Using effective communication skills is crucial to relationships and to success at work” (Stressaffect, 2013). Upon completion of a rewards program it must be communicated to the employees. On a lot of occasions employees do not understand HR terminology. The program must be explained in simple English. The last step of the total rewards creation process is evaluation. This step is very important to learn the effectiveness of the program. The program must be evaluated using quantitative measures.
References
Ala.org. Effective Committees: The Basics. Retrieved July 6, 2013 from http://www.ala.org/yalsa/sites/ala.org.yalsa/files/content/aboutyalsa/yalsahandbook/effectivecommittees.pdf
Buzzle.com (2013). Importance of Communication Skills. Retrieved July 6, 2013 from http://www.buzzle.com/articles/importance-of-communication-skills.html
Jindalsteelpower.com (2013). HR Philosophy. Retrieved July 6, 2013 from http://www.jindalsteelpower.com/join-us/hr-philosophy.aspx
Seun, O. (2013). The Importance of Feedback in Communication. Retrieved July 6, 2013 from http://ezinearticles.com/?The-Importance-Of-Feedback-In-Communication&id=3631322
Stressaffect.com (2013). Importance of Communication. Retrieved July 6, 2013 from http://www.stressaffect.com/importance-of-communication.html
Wisegeek.com (2013). What is the Importance of Human Capital? Retrieved July 6, 2013 from http://www.wisegeek.com/what-is-the-importance-of-human-capital.htm
Worldatwork (2007). Handbook of Compensation, Benefits & Total Rewards. New Jersey: John Wiley & Sons. Read More
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