HRM 533 Assignment 5 New and Improved Rewards at Work

Employers have been coming up with innovative employee rewards to boost morale and acknowledge employee needs for creativity and personal goal accomplishment. Some of the latest potential employee rewards include using the Internet at work for personal reasons such as shopping, communicating with friends, or personal finances; bringing a pet to work; instituting a controlled napping policy, and the sports and office betting pools.

Write an eight to ten (8-10) page paper in which you: 

1. Determine how innovations in employee benefits can improve the overall competitive compensation strategy of the organization.
2. Explain how innovative benefits could be tied to specific jobs.
3. Critique the effectiveness of equity-based rewards systems versus those with more creative approaches.
4. Discuss the key elements of integrating innovation into a traditional total rewards program.
5. Recommend a process that optimizes an employee-based suggestion program to continually refresh the total rewards of the organization.
6. Use at least five (5) quality academic resources in this assignment. Note: Wikipedia and other Websites do not quality as academic resources.

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:

• Analyze an organization’s strategy and integrate pay-for-performance plans and total rewards into a compensation strategy that will motivate desired behavior and improve job performance.
• Explain a benefit plan as part of an overall competitive compensation strategy and the policies to administer the benefits.
• 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 5: New and Improved Rewards at Work

Criteria

Unacceptable

Below 70% F

Fair

70-79% C

Proficient

80-89% B

Exemplary

90-100% A

1. Determine how innovations in employee benefits can improve the overall competitive compensation strategy of the organization.

Weight: 20%

Did not submit or incompletely determined how innovations in employee benefits can improve the overall competitive compensation strategy of the organization.

Partially determined how innovations in employee benefits can improve the overall competitive compensation strategy of the organization.

Satisfactorily determined how innovations in employee benefits can improve the overall competitive compensation strategy of the organization.

Thoroughly determined how innovations in employee benefits can improve the overall competitive compensation strategy of the organization.

2. Explain how innovative benefits could be tied to specific jobs.
Weight: 15%

Did not submit or incompletely explained how innovative benefits could be tied to specific jobs.

Partially explained how innovative benefits could be tied to specific jobs.

Satisfactorily explained how innovative benefits could be tied to specific jobs.

Thoroughly explained how innovative benefits could be tied to specific jobs.

3. Critique the effectiveness of equity-based rewards systems versus those with more creative approaches.

Weight: 20%

Did not submit or incompletely critiqued the effectiveness of equity-based rewards systems versus those with more creative approaches.

Partially critiqued the effectiveness of equity-based rewards systems versus those with more creative approaches.

Satisfactorily critiqued the effectiveness of equity-based rewards systems versus those with more creative approaches.

Thoroughly critiqued the effectiveness of equity-based rewards systems versus those with more creative approaches.

4. Discuss the key elements of integrating innovation into a traditional total rewards program.

Weight: 15%

Did not submit or incompletely discussed the key elements of integrating innovation into a traditional total rewards program.

Partially discussed the key elements of integrating innovation into a traditional total rewards program.

Satisfactorily discussed the key elements of integrating innovation into a traditional total rewards program.

Thoroughly discussed the key elements of integrating innovation into a traditional total rewards program.

5. Recommend a process that optimizes an employee-based suggestion program to continually refresh the total rewards of the organization.

Weight: 15%

Did not submit or incompletely recommended a process that optimizes an employee-based suggestion program to continually refresh the total rewards of the organization.

Partially recommended a process that optimizes an employee-based suggestion program to continually refresh the total rewards of the organization.

Satisfactorily recommended a process that optimizes an employee-based suggestion program to continually refresh the total rewards of the organization.

Thoroughly recommended a process that optimizes an employee-based suggestion program to continually refresh the total rewards of the organization.

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