Metrics to Gauge Success of Total Rewards Program
Added on 2019-10-18
6 Pages1244 Words431 Views
1. Assume an organization wants to gauge the success of its total rewardsprogram. Discuss at least two possible metrics or outcomes it might use. Besure to explain why you chose the metrics you discuss and how they areindicative of a successful total rewards program.In order to gauge the success of the Total Reward points in my organization, I wouldadopt a Merit pay metric [ CITATION Arm15 \l 1033 ]. This is related to theperformance and contribution of individual employees that will enable employers tocompensate the employees based on their job and performance. If implemented well, thiscan be a motivational factor for the future performance as well as help in retain talent ifthe result if achieved. The right compensation is vital and a greatest factor to retain talent,failing which the organization can lose its key people. Periodic assessment will ensurethat the employees are committed to their work as well as work under pressure. The second metric which would help determine the success of the TRP is how the benefitprogram is working towards retaining the employees and whether or not they feelmotivated enough in the company. Benefits and perks such as pensions, annual holidaysand flexible benefit programs in the organization help in ensuring job security, therebyensuring talent retention in the organization. In those organizations where the employeesare aging, or are married, have children, there is greater responsibility. Including aneffective benefit program will ensure satisfied and committed work force in anorganization.
2. Given what you have learned about employee relations and labor relations,do you think it is possible for an HR practitioner to be an effective advocatefor both employees and the organization at the same time? Why or why not? The role of an HR creates a dichotomy between the organization and of the employees,often trying to create a bridge between the two. Straddling between the two, the best HRpolicies often reflect the satisfaction of the employees and the ability to make their voiceto the organization and partner with them to achieve desirable outcome.To achieve this end, in my opinion, it is largely possible for an HR to strike balancebetween the two. In order to achieve beneficial relation with the employees, it is vital thatthe employee rights are not violated or the employee value proposition (EVP) is notshaken. [ CITATION Hug03 \l 1033 ]. One of the ways to avoid conflict is to engage the services of a Human ResourceGeneralist, who have working knowledge of handling lab our related issue as well asgood HR Management practices. Secondly, it is important to hire individuals whosebehavioral traits will be able to cope up with the job pressures, and is in line with whatthe job demands. This way, most of the complications are resorted at the initial stagesitself. Structural changes in the organization,[ CITATION Mar141 \l 1033 ] appropriatetraining at regular intervals, taking employee feedbacks, can help HR accomplish balancebetween organization and employees
3.Labor Relations and Employee Relations are similar but distinct HRfunctions. Compare and contrast the key elements of the two and discuss howthey both contribute to organizational functioning. The HR-Labor relations encompasses a relation where in the employers, management,workers and their union representatives as well as the government set rules for industrialrelations. Labor unions act as collective bargaining units to address labor related issuessuch as leaves, health and safety, reporting of on-job accidents and diseases, workcompensation for occupational injury etc. [ CITATION Tre12 \l 1033 ]This requires agreat level of mediation and conflict resolution skills, apart from the ability to interpretpolicy and administration and compliance, with the labor force as well as the unions.On the other hand, the Employee-HR relation is based on pay and benefits, ensuring safeworking conditions, maintaining good work ethics, training and work-life balance. GoodHR policies with employees often relate to good appraisal, helping employees gain acompetitive edge in the market, employee recognition, appraisal, training, which act aspositive steps to build a good work force in the organization.Both the relations are vital as they lead to symbiotic functioning of an organization.While a strong organization and labor relations can help avoid unionization, and greaterlevel of satisfaction and productivity, Employee satisfaction can lead to lower attrition
End of preview
Want to access all the pages? Upload your documents or become a member.
Related Documents
Different Legislative Acts Applied to Compensation and Benefitslg...
|10
|2227
|72
Talent Management Task 2022lg...
|5
|881
|20
Assignment Job Analysis | Human Resource Managementlg...
|3
|522
|143
Managing People and Systems: A Guide to Effective HR Managementlg...
|12
|930
|438
Case study on Human Resources Management - Rewarding Innovation at Huaweilg...
|3
|799
|25
Human Resource Management and Volunteering in Events Organizationslg...
|25
|6639
|61