What are the components of total rewards, HR Management

Assignment Help:

Mr Donald Alexendar, Managing Director of Exclair Plc, a company engaged in the financial services sector employing more than 75 employees, attended an international workshop on "Total Reward and Engaged Performance" held in New Zealand from 10 to 15 October, 2008.

He has been impressed by the growing emphasis being now laid on employee engagement as critical to organizational performance and how the concept of total reward is exerting more and more influence on reward strategy. He learnt that this influence will continue to increase in view of the pressures that organizations will have to sustain to recruit and retain talent in an environment where diverse and mobile employees are often more demanding and assertive about what they want from an employer.

However, he is quite confused on some terms and concepts such as total reward, engaged performance, talent management that were extensively used during the workshop.

He has requested you, in your capacity as the HR Manager of the company to explain to him these terms and concepts.

You are requested to write a report to explain to Mr. D. Alexendar in a clear manner these terms and concepts. Your report should include the following:

(a) Definitions of Total Reward, Engaged Performance and Talent Management.
(b) What are the components of Total Rewards?
(c) What are the benefits of Total Reward approach?
(d) What are the implications of Total Reward approach to talent management?


Related Discussions:- What are the components of total rewards

Evaluate highest rate of productivity, My very first instinct while taking ...

My very first instinct while taking the poll was to choose that yes, the employer could pass the cost on to the employee, and no, it wasn't illegal! But, as others have pointed out

HR Strategy, If the corporate strategy is to achieve superior levels of cus...

If the corporate strategy is to achieve superior levels of customer service and high profitability through a committed workforce

Explain the significance of having a project charter, Question 1: (a) A...

Question 1: (a) Analyse the essential factors that are usually not emphasized by project managers during execution of a project. (b) How would you motivate your team members

Social information processing model, Social Information Processing Model ...

Social Information Processing Model Employees adopt behaviors and attitudes in response to the social cues of others by whom they have to contact. This means that an employee's

HRM, . Discuss that technological breakthrough has brought a radical change...

. Discuss that technological breakthrough has brought a radical changes in HRM.

Prepare report on importance of human resources fundamentals, Prepare Repor...

Prepare Report on Importance of Human Resources Fundamentals Case Study XYZ opened its first optical store in May 2009. Since then it has opened another 20 stores and i

Describe the mechanism of knowledge discovery in databases, Describe the me...

Describe the mechanism of Knowledge discovery in databases Knowledge discovery in databases (KDD) revolves around the investigation and creation of knowledge, processes, algori

Developing a corporate social responsibility programme, Question 1: Exp...

Question 1: Explain why team work needs to be considered as part of an organisations' HRM strategy? Give an example of the most appropriate team work to a specific circumstance

Important principles in the maintenance of discipline, Ms.Varuna Agarwal is...

Ms.Varuna Agarwal is the HR Manager of Milestones Pvt Ltd.  She wants to ensure that employee discipline is well maintained. What are the important principles that have to be obse

The computer in efficient communication, THE COMPUTER : You must be aware...

THE COMPUTER : You must be aware that the computer is now a powerful tool in communications. Indeed, this unit was written and produced with the assistance of modern communication

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd