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.
Nobody downloaded yet

Six Features of an Effective Total Rewards Program - Essay Example

Comments (0)
Summary
The paper “Six Features of an Effective Total Rewards Program” defines total reward program as a part of the sales force compensation plan. Many companies effectively conduct these programs so as to build loyalty and trust amongst employees…
Download full paper
GRAB THE BEST PAPER
Six Features of an Effective Total Rewards Program
Read TextPreview

Extract of sample
Six Features of an Effective Total Rewards Program

Download file to see previous pages... The best way to gain profits and achieve commercial success is through employee compensation both in cash and kind. The cash benefits include wages and salary, while benefits in kind include fringe benefits and perquisites. The employee rewarding programs are critical to success of the organizations in recent times. Tesco PLC, the British multinational (MNC) grocery and merchandise retailer, is well-known for the compensation plan offered to its sales force (Armstrong & Taylor, 2014). The company provides simple, competitive and sustainable rewards to the staff, which help to build loyalty and trust amongst the employees and ensure their retention. The staff is paid quite high and the amount is around 7% more than three largest food retailers present in the market.
Total reward program is a part of the sales force compensation plan. Many companies effectively conduct these programs so as to build loyalty and trust amongst employees. Six features of an effective total rewards program can be described as follows:
Strong Compensation structure- The sales force can be motivated through premium and variable pay, besides the base salary. Premium pays can be in the form of on-call, shift differential, call-in, hazard, bi-lingual and skill based pay (Tetrick & Haimann, 2014). Variable pay, on the other hand, can be offered as commission, team based pay, bonus programs and incentive pay. Incentives increase the feeling of self-actualization among employees. Top IT companies such as, IBM, offers employees undifferentiated variable and team based pay, thereby accelerating their level of morale and encouraging them to work for the organizational welfare (Armstrong & Taylor, 2014).
Availability of Perquisites – These have the capacity to elevate the motivation level of sales force. ...Download file to see next pagesRead More
Comments (0)
Click to create a comment or rate a document
CHECK THESE SAMPLES - THEY ALSO FIT YOUR TOPIC
Total Rewards Programs
As the discussion stresses total rewards is especially relevant in the present-day work environment, whereby globalization has made it possible for employees to work in diverse environments. The following total rewards system proposal seeks to focus on the latest available information with regard to creating, organizing.
9 Pages(2000 words)Research Paper
Total Rewards System
The range of pay which he gets for such a stressful work is between low to average. These employees have to tolerate a lot of emotions from different clients on a day-to-day basis and this affects him/her at some point of time. So under these circumstances the management has to see to it that such employees are rewarded for a well done job or at least let them (these employees) know that their presence makes a difference to the organization.
7 Pages(1750 words)Essay
Elements of a total rewards communication program
The other reason is when there is an absolute need to have cost cutting. This can emanate from low output per employee and increase in inefficiency of employees. The management shall be
1 Pages(250 words)Assignment
Total Rewards Program
In its simplest sense, insurance coverage is a way to protect or hedge against any probable loss, which is uncertain but a contingent loss. A brief review of its history will show it has a long provenance back in time,
5 Pages(1250 words)Case Study
Features of an Effective Total Rewards Program
This paper will explaines some ups and downs of an effective total rewards program, that is commonly used in business organizations. The creation of a total rewards program is discribed, as well as steps and benefits that employees get. In conclusion, author states that payments should be competitive for employees and should meet their personal needs.
2 Pages(500 words)Essay
Total Rewards System Proposal
Envision is an Information Technology (IT) based company. The company is a profit organization that successfully employs 20000 employees across 17 different countries. There are 2000 individuals in the management level who speak a diversity of languages. The company employs diverse individuals who are governed by multiple regulatory environments.
5 Pages(1250 words)Essay
Design a Total Rewards program ( Coco Cola)
This was before the doctor together with a colleague came up with the name Coca Cola attesting to the taste. The two had unknowingly created the basis for a brand that would be recognizable in nearly every country in the world.
10 Pages(2500 words)Research Paper
Communicating total rewards
A good compensation and benefits package should take note of important elements like skills and experience, job description, work conditions or environment and the nature of work. Consideration of these
2 Pages(500 words)Essay
Communicating Total Rewards

In the essay the advertisement message will be designed to introduce the different total rewards, benefits and compensation programs offered.  Monetary payments such as base wage/salary, variable pay, Piece-rate, commission and bonus will be quoted so as to convince prospective employees in joining the organization.

2 Pages(500 words)Essay
Coca Cola Total Rewards Program
The Coca Cola Company is the leading beverage Company with a portfolio of $20 billion brands.They are leading provider of ready-to-drink coffees as well as teas, juice drinks and juices, and sparkling beverages across the world. The Company at present provides more than 1000 low-calorie and no-calorie products across the globe.
10 Pages(2500 words)Term Paper
Let us find you another Essay on topic Six Features of an Effective Total Rewards Program for FREE!
Contact us:
+16312120006
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us