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Over the past few years, the company iB4e has underperformed compared with its competitors which enjoy stronger brand recognition. In addition, lots of experienced staff responsible for key customer accounts has left the company. Even though it pays comparable salaries to its rivals, iB4e has had difficulty replacing these staff with outside appointments. This has led to some existing employees temporarily taking on customer relationship management in return for small one-off payments. This has been good for staff morale but the effectiveness of this calculates as a long term alternative to appointing suitably experienced new staff is questionable given that some of these staff has been more successful than others.
Describe the advantages and disadvantages of iB4e developing a 'total reward package' approach.
Advantages
There are various clear advantages to iB4e developing a 'total reward package' (TRP):
Disadvantages
There are also several potential disadvantages to iB4e developing a TRP:
Approaches to short-term financing problem?
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