Total Rewards - 1512 Words

Assignment 1 Geico Total Rewards Program Case Study Advantages to a Total Rewards Approach There are several advantages to using a total rewards approach to compensating the workforce. The top five are described in the text (pp. 15—17). The following paragraphs discuss the facets of the Geico total rewards program that align with these advantages: The first facet is â€Å"Health and Well-Being†. Geico offers a variety of medical plans to their employees such as PPO’s, HMO’s, dental, and vision. Geico offers three free sessions from their employee assistance program and basic long-term disability insurance which is paid for after three years of employment. Premium long-term disability insurance is available at an†¦show more content†¦Total Rewards Strategy Geico needs a strategy that addresses all of these advantages. (These are the top five advantages on pp. (15—17.) The company should follow the following strategy toward this end: â€Å"Increased Flexibility† consists of various benefits that meet the needs of a diverse organization. Flexible benefits are an important part of total rewards because they help improve the employee experience by providing them with more choices when it comes to perks (Wilkinson, 2007). Geico can capitalize on â€Å"Increased Flexibility† by communicating to existing employees and prospective candidates how each flexible reward is beneficial to them. Most employees may not appreciate total rewards an organization offers because they do not understand them. Geico can take advantage of â€Å"Improved Recruitment and Retention† by tailoring their total rewards package towards the demographics of the workplace. Demographics play a significant role in the type of total rewards an organization offers. A younger workforce’s should differ from the needs of an older workforce. Today’s employees value relational rewards such as career development and learning (Kaplan, 2005). Gender influences the type of total rewards package as well. A predominantly female population may value relational benefits such as flexibility versus a male dominated workforce (Kaplan, 2005). GeicoShow MoreRelatedThe Total Rewards Program1997 Words   |  8 PagesOrganization Overview This paper will discuss the total rewards program. This company is a beverage and bottling company that has been in business for over 100 years. Currently we operate in about 3 continents and in about 20 different countries all over the world. SZT Corp is the home to over 20,000 employees with about 2,000 management-level employees worldwide. Armstrong (2012) affirms that definitions of total rewards characteristically includes not only traditional, quantifiable elements suchRead MoreTotal Rewards1191 Words   |  5 PagesRunning head: TOTAL REWARDS Total Rewards: Strategically Achieving Business Results Strayer University Abstract Total Rewards reflects what employees’ value from its employer. It focuses on five elements that attract, motivate, and retain the talent to achieve business goals. These elements are: Compensation, Benefits, Work- Life, Performance and Recognition and Development and Career Opportunities (WorldatWork, 2007, p. 4). This paper describes the five advantages of a total rewards approachRead MoreWhy Total Reward Is Important2041 Words   |  9 PagesWhy a Total Reward Program is Important As the labor force becomes more highly developed and demanding, rivalry between organizations for talented employees is drastically increasing. It is extremely important that organizations make their company more enticing as an incomparable career opportunity. Instituting a total rewards system into an organization can do much to help it invite the paramount talent available and significantly condense turnover. The longevity of an organization’s employees isRead MoreTotal Rewards System Proposal2087 Words   |  9 PagesTotal Rewards System Proposal Organization Overview This paper will discuss the total rewards program for Apple Inc. This company is a technology company that produces cutting edge computers, smart phones, tablets and portable music players. Apple Retail has been in existence since 2001 and now has 365 stores world wide with over ninety thousand employees in thirty nine countries. Apple Retail enables customers to touch and feel the products and work with knowledgeable sales associatesRead MoreHrm 533 Total Rewards Strategy Proposal1826 Words   |  8 Pagesand manage a total rewards program for an insurance company. First, it indicates the requirement of a total rewards system for the company. Then, it formulates a competitive strategy and explains it. Since the communication of a strategy is as important as the strategy itself, the paper includes a communication plan of the strategy. And last but not least it studies devising a competitive pay structure. 1. Create a brief overview of the company requirements for a total rewards system. CompanyRead MoreEssay On Total Rewards1380 Words   |  6 Pagesretirement savings plan. Different workers want and different things out of their benefits, which is why companies need their benefit package a bit more tailed-made, to meet the need of all employees within the company. According to Rose Stanley, a total rewards practice leader, WorldatWork, the non-profit human resources association, says companies must try to tailor those offerings in a way that addresses the needs of their workforce but at the same time keeps costs in line. Employers who can affordRead MoreWhat Is Total Rewards System Or Trs? Essay1306 Words   |  6 Pagesneeds ensures that their mindsets, efforts and productivities are all â€Å"on the job† and so this limits the worrying of any uncontrollable part of the employees work experience, working conditions, payments and the relevant benefits. So, to describe Total Rewards System or TRS in a roundabout way; ‘TRS is a combination of various processes carried out in different areas of the workplace which encompasses three main elements that which all the employees value from their term of employment, payment/compensationRead MorePerformance Management System and Total Rewards Plan for Weavertech1736 Words   |  7 PagesPerformance Management System and Total Rewards Plan for WeaverTech Southern New Hampshire University OL 600 Strategic Human Resource Management INTRODUCTION Due to the acquisition of WeaverTech formally known as Johnson-Ware an apparel company by CVX Partners, a private equity firm, there arose a need for the company to change its line of business to high-end segment of the apparel industry (Beer Swier, 2015). Before the acquisition of the company by the newRead MoreTotal Rewards1051 Words   |  5 PagesDescribe each of the top five (5) advantages of a total rewards approach. The first advantage of a total rewards approach is self fulfillment so that people are recognized for what they do and encouraged to reach their potential through effective learning and development processes and given feedback on their performance. The second advantage is an organization culture where roles are clear and organizational and personal values are in alignment so that employees engage and enjoy work. AnotherRead MorePerformance Management System And Total Rewards Plan For Weavertech1751 Words   |  8 Pages Performance Management System and Total Rewards Plan for WeaverTech Name: Institution: Course Title: Instructor: INTRODUCTION Due to the acquisition of WeaverTech formally known as Johnson-Ware an apparel company by CVX Partners, a private equity firm, there arose a need for the company to change its line of business to high-end segment of the apparel industry (Beer Swier, 2015). Before the acquisition of the company by the new owners, WeaverTech was a closely owned family

Global Warming And Its Effects - 1312 Words

Global warming is presenting a lot of environmental and health problems to many countries. A lot of heat gets trapped on earth due to formation of a non-porous layer gases below the atmosphere. The worst effect is felt by developing countries, which are also geographically disadvantaged. The establishment of such countries is on low altitude areas. This position makes developing countries to be direct victims of floods from the melting snow at high altitude areas. A lot of scientific research associates global warming with the numerous irresponsible human activities such as industrialization in the developed countries. These industries emit a high content of greenhouse gases like carbon into the atmosphere on a daily basis. The resultant†¦show more content†¦There is a necessity to act with urgency and save human life by reducing the carbon footprint. The government needs to analyze and understand some of the major effects of global warming. For instance, there is a massive loss of lives and property at every corner of the globe. Displacement of people from their land due to excessive water from overflowing sources like rivers is also a common phenomenon. Affected families encounter great losses and therefore, have to start afresh to establish themselves. The presence of high temperatures affects agricultural activities in negatively. There is little or no survival of food crops and therefore, people are most likely to experience starvation (Eddin et al. 7). Most forms of life are left with no option but to struggle for survival. Disagreements may arise under some circumstances, for example, when people need to share limited resources. Such incidences bring divisions in nations and at times cause a lot of bloodshed. Desertification, contamination of air, violence, and human and animal migration are examples of the problems caused by global warming. A further analysis of the situation has shown that there is existence of more severe social and economic problems (Sim 8). Mudhol Levy clearly explain that laxity in reducing the carbon foot print enhances toxication of the aquatic environment (12). Further evidence indicates a permanent loss of some

Odie clutched the can of orange juice Free Essays

Odie clutched the can of orange juice. It was very cold against his palms which were very wet—either from the coldness or the sweat that was slowly forming in his callused hands. He had callused hands—hands which had been witnesses to the harsh realities of life and the absurdities of things—of fate and of faith. We will write a custom essay sample on Odie clutched the can of orange juice or any similar topic only for you Order Now Odie smiled upon remembering his hands. The hands of a warrior. He was watching the battlefield in front of him—the warriors were armed. Only a simple command from him—their leader—and the thousands of warriors would be willing to sacrifice their lives for the survival of their tribe, of their nation. Odie raised his right hand, brandishing the gleaming sword in the air—the war has begun. He opened his mouth to give the command†¦ and a car screeched nearby and Odie was awakened from his day dreaming. He was no warrior and there was no sword. The can of orange juice had lost its coldness by then, and Odie walked up their pathway into the confines of his home. No, it was a house. No, it was also not a house. It was a tiny apartment—just a very, very small space in this world where he can sleep, eat, take a bath, change clothes, and†¦ become someone else. Odie stepped into his room and looked at the computer—this is it—the moment when he stops from being the muddled and the ridiculed Odie. This is the moment when he stops from being the weird and tame Odie. In fact, this is where he stops from being Odie altogether—he can now be anything and anyone whom he wants to be. The only thing in the world right now is the computer screen, the people on-line who are impatiently waiting and clamoring for the attention of his other self—Brigade719. Odie logged on and Brigade719 has entered the world of cyberspace. He was now lost to the endless possibilities which can happen. He can be the warrior who brandishes the gleaming sword, he can be the courageous general who bravely stands on the front, he can be the destroyer of evil empires, and he can be the prince to the many princesses who are vying for his on-line attention. Odie clutched the can of orange juice. He walked slowly and silently along the hallways of his university—no one was paying him any attention. If a person looked at him now, in a matter of seconds, he would probably be forgotten. He was small, scrawny, and shy. In the room, he barely spoke; he barely talked even when he was addressed by his professors. Not that his professors actually talked to him. The average times of people actually addressing Odie would be the average times a Starbucks store would be closing down—which to say, was rarely. Yet, he was kind and gentle. In fact, he was too kind and too gentle that people rendered him to be non-existent. But that’s okay with Odie—since later on, in the confines of his tiny apartment, in that very messy room—he becomes someone else. Odie logged on and Brigade719 has entered the world of cyberspace. There, in the screen, are over a hundred invitations to be his on-line friend. There, in the bright, bright screen, are over a thousand possibilities of showing his intelligence, his bravery, and his wit. Brigade719 smiled. He was ready—bringing his fingers closer to the keyboard, he took on the possibilities. How to cite Odie clutched the can of orange juice, Papers

Consumer Diary Analysis free essay sample

Because I had decided that I wanted junk food, healthy food options and restaurants were placed in my inert set, and smaller, less popular niche outlets like red rooster were placed in my inept set (LeBlanc amp; Neil C. Herndon, 2002). Big fast food outlets like McDonalds and Hungry Jacks comprised my consideration set. Due to previous experiences and memory associations, I considered McDonald’s to be the category prototype for fast food, and therefore it exceeded other competitors. As I considered taste to be the most important factor in my purchase, the lexicographic choice tactic can be used to explain my decision to go with the McGrilled burger meal (Hauser, 2010). Also, my adequate financial position provided the ability to make my purchase and the location of a McDonald’s outlet nearby my house and no time constraints provided a satisfactory opportunity to make my purchase. 2. Nike Tiempo Legend Soccer Boots. We will write a custom essay sample on Consumer Diary Analysis or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page All my soccer boots were starting to get too small for me. I was motivated to purchase some new boots that suited me and also fitted properly (difference between my ideal and actual state) (Hoyer amp; Macinnis, 2010). Because of the vast number of different brands of soccer boots, and the amount of use the boots will get, this decision was considered a high-effort purchase for me. In considering which store to purchase from, I chose Sportsmart in Moorabbin because a friend of mine works there and was able to give me a discount. Because of the specifics of each different type of soccer boot (even within the same brand) it seemed adequate that I would be making a purchase decision based on product rather than brand (Hoyer amp; Macinnis, 2010). Different stud patterns suit different weather conditions – so because Melbourne pitches are mostly firm, I chose boots with a Firm Ground stud pattern (therefore all Soft Ground boots and other types were allocated to my inert amp; inept set). Furthermore, because I was a defender, boots with soft material were also eliminated from my consideration set as per attribute processing (LeBlanc amp; Neil C. Herndon, 2002). Previous brand experiences led me to consider the ‘Nike’ brand, and personal characteristics influenced my choice of colour, material and shape. A combination of attributes prompted me to choose the Nike Tiempo Legend boot, utilising most effectively the multi-attribute expectancy-value choice tactic – in which I chose the product that offered the best ‘bundle’ of benefits (Hauser, 2010). 3. United Petrol Problem recognition arose when I became aware that I had less than a fifth of a tank left. I developed a physiological need to fill up my petrol tank and experienced previous memories of the feelings associated with petrol running low (Arndt, 2012). This triggered me to go to a petrol station to fill up (Hoyer amp; Macinnis, 2010). There happens to be 2 United Petrol stations within 2 minutes’ drive of my house, and I pass them when I drive almost anywhere. Whenever I am in a state of having low petrol or needing to fill up, repeatedly passing and observing the United Petrol stations has developed somewhat of a neural connection between filling up petrol and the United Petrol Station (classical conditioning). This, along with previous positive experiences and the ability to satisfy my personal goals (appraisal theory), led me to choose United Petrol as the brand. I was further motivated by the lower prices of petrol on a Friday, and specifically the lower prices of petrol at a United Petrol station in comparison to other alternatives. I finished work at 5. 00pm and received my weekly pay, which provided me with the financial ability to make the purchase. A United Petrol station was located on my way home from work and hence provided an easy opportunity for purchase. 4. Apple Ipod Headphones I have 3 pairs of headphones at home; all of which only have one ear-bud which actually works. This aroused a state of deprivation and a difference between actual and ideal state (Arndt, 2012). I was motivated to buy new headphones to fulfil my wants of being able to listen to music through both of my ears. Whilst I appreciated quality sound, I was not overly fussed with the specifics and characteristics of individual headphones which made this purchase relatively low-effort. Furthermore, I was not willing to spend a lot of money on headphones, which influenced my consideration set. I basically chose to undertake a repeat purchase of apple’s iPod headphones because I was not prepared to purchase top of the range headphones (comparative theory) (Hoyer amp; Macinnis, 2010). I had positive brand and product experiences with apple headphones previously, and wanted to minimise performance, physical and social risks. Comparison between diary 2 (Xind) and diary 3 (Jono) In analysing consumer diary 2 and consumer diary 3, it becomes immediately clear that each consumer follows a general framework in their purchases. All purchases are derived from a problem; specifically a variance between an actual and ideal state (Arndt, 2012). Furthermore all purchases are motivated, and influenced by brand exposure, situational factors and memory/knowledge (Hoyer amp; Macinnis, 2010). Lastly, both consumers acknowledge the importance of having an adequate opportunity and ability to make the purchase. Consumer 2 makes multiple low-effort purchases, and it can be deduced that Consumer 2’s purchasing habits are in close correspondence with his schedule. In almost all of his purchases, heavy influencers were convenience and time constraints, and hence he displayed a cognitive tendency to utilise past experiences and brand familiarity when purchasing, seeking efficiency in his decision making. In Consumer 3’s case, time constraints were not as prominent, and therefore Consumer 3’s decision making was subject to more evaluation in comprising consideration sets (LeBlanc amp; Neil C. Herndon, 2002). In purchasing a high-involvement product, Consumer 3 used a multi-attribute expectancy-value analysis to consider a bundle of attributes and benefits (Hauser, 2010). It appears that for both Consumers in purchasing low-involvement convenience products, normative choice tactics and the lexicographic choice model is consistently utilised. Furthermore, whilst Consumer 2 used a variety seeking tactic in choosing a different type of food for lunch, it can be said that both consumers are considerably hesitant to make purchases outside of their experience and knowledge, at least on a regular basis. Another consistent characteristic is the influence of financial ability on the consideration set when making the purchase. These three main (time constraints, previous experience/knowledge and financial ability) are prominent within decision making consideration in both consumers lifestyles. Bibliography Arndt, J. (2012). How broad should the marketing concept be? Journal of marketing vol. 42, 101-103. Hauser, J. R. (2010). Consideration set heuristics. Massachusetts: MIT Sloan School of Management. Hoyer, W. D. , amp; Macinnis, D. J. (2010). Consumer Behaviour 5th Edition. LeBlanc, R. P. , amp; Neil C. Herndon, J. (2002). A multivariate analysis of evoked sets as a marketing universal. Journal of applied business research vol. 18 no. 3.