Scenario
You are a human resources (HR) professional who works for a start-up company. As is typical for a start-up, the company needs to offset the costs of starting a new business with lower compensation. They intend to do so by designing a new total rewards package. Total rewards packages can be used to attract and retain talent by offering desirable benefits in addition to salary. Your manager has asked for your assistance in preparing a presentation for senior management. You have been asked to put together an outline on a total rewards program that your manager can use in a presentation. You will include a brief overview of a total rewards package and its purpose. You will also include why it adds value to the company. Your manager would like you to include your sources so that they can be added to a references slide.
Directions
Outline total rewards information for your manager. A formal or informal approach to the outline is acceptable. Reference the resources in the Supporting Materials section of this document for support. Use the template in the What to Submit section to develop your outline. Keep in mind that you can change the template numbering to an outline listing style of your choice. To get started, begin with the concept and components of total rewards. Then, address the attraction and retention of talent, providing examples of total rewards components suited to each. Finally, address employee value proposition (EVP) and its relation to total rewards. You are required to cite a minimum of two sources. Use the Citation Help link in the Supporting Materials section for help with citing your sources.
Specifically, you must include the following:
- Explain the concept of total rewards and its purpose. In your response, include the following information:
- Why a company would use a total rewards package
- How total rewards is important for employee retention
- Why total rewards packages are valuable to an employer
- Describe the monetary and nonmonetary components of a total rewards package. Be certain to include the value that the components bring together to the company.
- Explain how total rewards components are used to attract and retain talent. Be certain to provide examples.
- Explain the concept of employee value proposition and its relation to total rewards.
What to Submit
Every project has a deliverable or deliverables, which are the files that must be submitted before your project can be assessed. For this project, you must submit the following:
Total Rewards Outline
Submit your total rewards outline using the Project Template. Your submission should be 500 to 750 words, not including references.
Supporting Materials
These materials will help support your work on the project:
Shapiro Library Academic Resource: How to Make a Formal Outline This Shapiro Library academic resource provides guidance on creating different types of outlines that can help you organize your thoughts and structure information. It also addresses informal outlines.
Resource: Create a Bulleted or Numbered List This tutorial provides information on using the multilevel list feature in Microsoft Word to create outlines. This tool can be used for formal or informal outlines.
Reading: Citation Help Need help citing your sources? Use the Citation Guide and Citation Maker in the Citation Help module.