Total Reward Compensation Package Proposal at Bruce Lee Inc. Canada

This document presents a total reward compensation package proposal for Bruce Lee Inc., aimed at attracting and retaining employees by addressing their monetary and non-monetary needs. The proposal includes a basic annual pay of $64,300, a $5000 sign-on bonus, performance-based variable pay, and long-term incentives such as stock options for long-serving employees. It also outlines benefits like health, dental, disability, and life insurance, along with contributions to employee retirement. Furthermore, the package emphasizes work-life balance through flexible work arrangements and career development opportunities, including tuition reimbursement for relevant courses. The goal is to create a satisfactory working environment that motivates employees to perform optimally and reduces turnover, ensuring a secure future and career progression within the company. Desklib provides access to this and many other solved assignments for students.

Running head: TOTAL REWARD COMPENSATION 1
Total Reward Compensation
Student’s Name
Institution Affiliation

TOTAL REWARD COMPENSATION 2
Total Reward Compensation
BRUCE LEE INC.
Hiring Manager,
Bruce Lee Inc.
Dear Ade Okoye,
RE: TOTAL REWARDS PACKAGE PROPOSAL
We are writing with our intent to employ and retain you in the company by ensuring that you
have a satisfactory working environment regarding compensation for your work with the
company by offering you a Total Rewards Package.
Total Rewards Package is a combination of monetary and non-monetary benefits that an
employer offers to an employee to ensure that he or she feels motivated enough to work at
optimum levels (Bussin & Van Rooy, 2014). In Bruce Lee Inc., we value our employers and we
endeavor to ensure that most of their needs are covered. We believe that an employee will work
at optimum levels when he or she is psychologically settled in that he/she earns enough to cater
for his basic needs and wants, has a proper work/life balance, has clear prospects of career
advancement, and has a secure future. We aim at ensuring that we have satisfied employees to
avoid the high turnover and accompanied costs associated with the same (Thomas, 2009).
To this end, Bruce Lee Inc. is offering you, Ade Okoye, a Total Rewards package which includes
the following:
I. Basic Pay: the median annual pay for Engineers with your experience and competence
in Canada is $64,129 (Average Mechanical Engineer Salary, 2018). The company is
offering $64,300 to you as the basic pay. There will be annual increments based on the
inflationary rate.
II. Sign on bonus: $5000 paid on recruitment
III. Variable Pay: this category of the compensation package will be based on your overall
performance in the company within a year and will be paid out as bonuses at the end of
the year (up to $2,869).
IV. Long-term Incentive Pay: Bruce Lee Inc. seeks to reward its long-serving employees
with restricted ownership rights including stock options, stock and performance shares
as an incentive for the employees who work hard and stay with the company for a long
time.
V. Benefits: the company offers health, disability, dental and life insurance for its
employee. Also, the company contributes part of the employee retirement
contributions. As part of income protection, the company has a policy of pay for time
not worked, for situations such as sickness, bereavement and official leave.
VI. Work-Life Balance: the aim of providing a favorable work-life balance to employees is
to ensure that they are able to attain personal goals while performing optimally at their

TOTAL REWARD COMPENSATION 3
jobs (Greene, 2014). To this end, Bruce Lee Inc. will provide flexibility at the job place
enabling you to complete your task at your convenience as long as it is within the
agreed time frame.
VII. Career Development- the company has meritorious promotion and reward strategies
ensuring that as long as you put in quality work, your career progress is guaranteed. In
the same vein, the company offers numerous leadership and career advancement
training opportunities both on the job training and classroom-based programs. If an
employee decides to take a professional and career advancement courses on their own,
the company will reimburse the tuition fees (up to $8,000).
Yours Sincerely,
Hiring Manager

TOTAL REWARD COMPENSATION 4
References
Average Mechanical Engineer Salary. (2018). PayScale. Retrieved 17 November 2018 from
https://www.payscale.com/research/CA/Job=Mechanical_Engineer/Salary
Bussin, M. & Van Rooy, D. (2014). Total rewards strategy for a multi-generational workforce in
a financial institution. SA Journal of Human Resource Management, 12(1).
Greene, R. (2014). The Role of Employee Ownership in the Total Rewards
Strategy. Compensation & Benefits Review, 46(1), 6-9.
Thomas, K. (2009). Intrinsic Motivation at Work: What Really Drives Employee Engagement.
San Francisco: Berrett-Koehler Publishers.