Create a brief overview of the company requirements for a total rewards system

Assignment 3: Total Rewards System Proposal Due Week 7 and worth 250 points This research-based assignment focuses on the latest available information about creating, organizing, and managing a total rewards program. As the HR leader for your organization or a fictitious profit organization that employs 10,000 employees, your task is to create the organization’s total reward system. You will also brief the CEO on your strategy. Write an eight to ten (8-10) page paper in which you:

1. Create a brief overview of the company requirements for a total rewards system. NOTE: You have flexibility in creating your overview of the requirements but the response must be relevant.

2. Formulate a total rewards strategy to encompass the fundamentals of compensation and the regulatory environments. NOTE: This is just your strategy for compensation (not the entire total rewards package) and the appropriate compliance concerns.

3. Explain the advantages of the total rewards strategy you are proposing (this time, the entire total rewards package) and how it might satisfy the employees’ needs.

4. Determine the key communication components (basic framework) of the total rewards system. See pages 57-59 in the textbook.

5. Indicate your strategy for devising a competitive pay structure. **The textbook has plenty of information on this topic.**

6. Use at least five (5) quality academic resources in this assignment. Note: Wikipedia and other Websites do not quality as academic resources. Consider  https://research.strayer.edu

Your assignment must follow these formatting requirements:

· Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.

· Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.

The specific course learning outcomes associated with this assignment are:

· Define total rewards and describe the advantages of a total rewards approach.

· Analyze an organization’s strategy, workforce, operating environment, and key stakeholders to identify critical factors in designing a total rewards strategy.

· Evaluate the elements of a total rewards communication program.

· Use technology and information resources to research issues in total rewards.

· Write clearly and concisely about total rewards using proper writing mechanics.

Grading for this assignment will be based on answer quality, logic / organization of the paper, and language and writing skills, using the following rubric:

Points: 250	Assignment 3: Total Rewards System Proposal
Criteria	Unacceptable Below 70% F	Fair 70-79% C	Proficient 80-89% B	Exemplary 90-100% A
1. Create a brief overview of the company requirements for a total rewards system. Weight: 15%	Did not submit or incompletely created a brief overview of the company requirements for a total rewards system.	Partially created a brief overview of the company requirements for a total rewards system.	Satisfactorily created a brief overview of the company requirements for a total rewards system.	Thoroughly created a brief overview of the company requirements for a total rewards system.
2. Formulate a total rewards strategy to encompass the fundamentals of compensation and the regulatory environments. Weight: 15%	Did not submit or incompletely formulated a total rewards strategy to encompass the fundamentals of compensation and the regulatory environments.	Partially formulated a total rewards strategy to encompass the fundamentals of compensation and the regulatory environments.	Satisfactorily formulated a total rewards strategy to encompass the fundamentals of compensation and the regulatory environments.	Thoroughly formulated a total rewards strategy to encompass the fundamentals of compensation and the regulatory environments.
3. Explain the advantages of the total rewards strategy you are proposing and how it might satisfy the employees’ needs. Weight: 15%	Did not submit or incompletely explained the advantages of the total rewards strategy you are proposing and how it might satisfy the employees’ needs.	Partially explained the advantages of the total rewards strategy you are proposing and how it might satisfy the employees’ needs.	Satisfactorily explained the advantages of the total rewards strategy you are proposing and how it might satisfy the employees’ needs.	Thoroughly explained the advantages of the total rewards strategy you are proposing and how it might satisfy the employees’ needs.
4. Determine the key communication components of the total rewards system. Weight: 20%	Did not submit or incompletely determined the key communication components of the total rewards system.	Partially determined the key communication components of the total rewards system.	Satisfactorily determined the key communication components of the total rewards system.	Thoroughly determined the key communication components of the total rewards system.
5. Indicate your strategy for devising a competitive pay structure. Weight: 20%	Did not submit or incompletely indicated your strategy for devising a competitive pay structure.	Partially indicated your strategy for devising a competitive pay structure.	Satisfactorily indicated your strategy for devising a competitive pay structure.	Thoroughly indicated your strategy for devising a competitive pay structure.
6. 5 references Weight: 5%	No references provided	Does not meet the required number of references; some or all references poor quality choices.	Meets number of required references; all references high quality choices.	Exceeds number of required references; all references high quality choices.
7. Clarity, writing mechanics, and formatting requirements Weight: 10%	More than 6 errors present	5-6 errors present	3-4 errors present	0-2 errors present

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Week 7 Discussion

Total Rewards Knowledge 6: Pay for Performance

Please view the following video in its entirety:

In the video, base pay and variable pay are discussed. What are the main differences between each? How would you used variable pay to drive organizational performance? Be specific.

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