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In this project, you will demonstrate your mastery of the following competency:
You are a human resources 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 this by designing a new total rewards package. Total rewards packages can be used to attract and retain talent by offering them desirable benefits in addition to their salary. Your manager has asked for your input on what to include in the new package. Senior management is concerned that the current total rewards package is not attractive enough to a distributed workforce. Your manager has tasked you with creating a proposal summary that will contain your recommendations for a new total rewards program. You will include a brief overview of a total rewards package and its purpose, as well as why it adds value to the company. Your manager will use these recommendations in their presentation to senior management.
Create a proposal summary that will contain your recommendations for a total rewards program. Use the Project Two Template, provided in the What to Submit section, for your proposal summary. You will include four suggested total rewards components for the new program in the Talent Retention section of your document. Each component should contain the title of the item, describe what it is, and explain why this component would be attractive to current and prospective employees. You should summarize your proposal with an explanation of the employee value proposition (EVA) and how it relates to total rewards.
Specifically, you must address the following rubric criteria:
To complete this project, you must submit the following:
Total Rewards Proposal
Submit this assignment as a Word document, 2 to 3 pages in length. Use double spacing, 12-point Times New Roman font, and one-inch margins. Consult the Shapiro Library APA Style Guide for more information on citations; you can access Shapiro Library resources through the Academic Support area of the course. Sources should be cited according to APA style.
The following resource supports your work on the project:
Template: Project Two Template
Use this template to create your document.
Textbook: Fundamentals of Human Resource Management, Chapter 9 opens in new window, sections LO 9.1, LO 9.2, LO 9.3, and LO 9.4
In these sections, you will learn about the elements of high-performance work systems and their desired outcomes. You will discover how ideal conditions work together in organizations with high performance and how HR professionals can contribute to those work systems. As you read, consider the following:
Reading: Employee Value Proposition: The Complete Guide to Building a Great EVP opens in new window
The employee value proposition is an employee-centered approach to evaluating total rewards provided to an organization’s workforce in return for their performance outcomes. As you read, consider the following:
Video: Components of an Outstanding Employer Value Proposition opens in new window (3:27)
This video presents what goes into a successful EVP and includes a real-world industry example. As you watch, consider the following:
A captioned version of this video is available: Components of an Outstanding Employer Value Proposition (CC) opens in new window.
A video transcript is available: Transcript for Components of an Outstanding Employer Value Proposition opens in new window.
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