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LMZ Company has solicited your assistance in developing a Total Rewards Program. The company was started 30 years ago by a husband and wife who are now transitioning into retirement and transferring the company in six months to their oldest son of five children. The company was positioned to allow several departments to transition to remote work due to COVID-19. They still maintain a small office within the local town that has approximately 40 employees that continue to work on site. The new owner (son) is concerned about re-branding and possible competition. The owners (couple) will still be a part of the company as senior advisors and play a role in decision-making and are concerned about the role of their other children who also work within the company in various roles and total compensation including benefits once their son pays for re-branding and new marketing efforts. Your primary role will be to develop a Total Rewards Strategy Program (see Figure 1.3, Total rewards strategy, in The WorldatWork Handbook of Total Rewards) for this company while keeping its structure and potential family values in mind.
Instructions
Write a 4-6 page Total Rewards Strategy in which you:
1. Design an original total rewards strategy (Figure 1.3, Chapter 1, “The Power of Total Rewards” in the textbook) for LMZ Company.
2. Identify the first steps that the consultant needs to take to develop a total rewards program for the LMZ Company.
3. Outline how compensation, well-being, benefits, development, and recognition will be implemented.
4. Identify at least three concerns or problems that could impact the Total Rewards Strategy.
5. Identify at least three advantages of a total rewards approach and provide an example of how the identified advantage can be beneficial for both the organization and employee.
6. Discuss how the new Total Rewards Plan will be monitored and reviewed for potential changes and identify the personnel involved in this process.
7. Use 3-5 quality academic resources in this assignment. Note: Wikipedia and other websites do not quality academic resources.
This course requires the use of Strayer Writing Standards (SWS). The library is your home for SWS assistance, including citations and formatting. Please refer to the Library site for all supports. Check with your professor for any additional instructions.
The specific course learning outcomes associated with this assignment are:
• Create a strategy for maximizing the advantages of a total rewards program, including how it’s communicated.
• Assess the effectiveness of a total rewards program in motivating employees.
• Review how employers and employees can benefit from the Health Plans and BenefitsLinks to an external site. section of the United States Department of Labor website.

 

Sample Answer

Compelling correspondence is essential to the achievement all things considered but since of the changing idea of the present working environments, successful correspondence turns out to be more troublesome, and because of the numerous impediments that will permit beneficiaries to acknowledge the plan of the sender It is restricted. Misguided judgments.In spite of the fact that correspondence inside the association is rarely completely open, numerous straightforward arrangements can be executed to advance the effect of these hindrances.

Concerning specific contextual analysis, two significant correspondence standards, correspondence channel determination and commotion are self-evident. This course presents the standards of correspondence, the act of general correspondence, and different speculations to all the more likely comprehend the correspondence exchanges experienced in regular daily existence. The standards and practices that you learn in this course give the premise to additionally learning and correspondence.

This course starts with an outline of the correspondence cycle, the method of reasoning and hypothesis. In resulting modules of the course, we will look at explicit use of relational connections in close to home and expert life. These incorporate relational correspondence, bunch correspondence and dynamic, authoritative correspondence in the work environment or relational correspondence. Rule of Business Communication In request to make correspondence viable, it is important to follow a few rules and standards. Seven of them are fundamental and applicable, and these are clear, finished, brief, obliging, right, thought to be, concrete. These standards are frequently called 7C for business correspondence. The subtleties of these correspondence standards are examined underneath: Politeness Principle: When conveying, we should build up a cordial relationship with every individual who sends data to us.

To be inviting and polite is indistinguishable, and politeness requires an insightful and amicable activity against others. Axioms are notable that gracious “pay of graciousness is the main thing to win everything”. Correspondence staff ought to consistently remember this. The accompanying standards may assist with improving courtesy:Preliminary considering correspondence with family All glad families have the mystery of progress. This achievement originates from a strong establishment of closeness and closeness. Indeed, through private correspondence these cozy family connections become all the more intently. Correspondence is the foundation of different affiliations, building solid partners of obedient devotion, improving family way of life, and assisting with accomplishing satisfaction (Gosche, p. 1). In any case, so as to keep up an amicable relationship, a few families experienced tumultuous encounters. Correspondence in the family is an intricate and alluring marvel. Correspondence between families isn’t restricted to single messages between families or verbal correspondence.

It is a unique cycle that oversees force, closeness and limits, cohesiveness and flexibility of route frameworks, and makes pictures, topics, stories, ceremonies, rules, jobs, making implications, making a feeling of family life An intelligent cycle that makes a model. This model has passed ages. Notwithstanding the view as a family and family automatic framework, one of the greatest exploration establishments in between family correspondence centers around a family correspondence model. Family correspondence model (FCP) hypothesis clarifies why families impart in their own specific manner dependent on one another ‘s psychological direction. Early FCP research established in media research is keen on how families handle broad communications data. Family correspondence was perceived as an exceptional scholastic exploration field by the National Communications Association in 1989. Family correspondence researchers were at first impacted by family research, social brain science, and relational hypothesis, before long built up the hypothesis and began research in a family framework zeroed in on a significant job. Until 2001, the primary issue of the Family Communication Research Journal, Family Communication Magazine, was given. Family correspondence is more than the field of correspondence analysts in the family. Examination on family correspondence is normally done by individuals in brain science, humanism, and family research, to give some examples models. However, as the popular family correspondence researcher Leslie Baxter stated, it is the focal point of this intelligent semantic creation measure making the grant of family correspondence special. In the field of in-home correspondence, correspondence is normally not founded on autonomous messages from one sender to one beneficiary, yet dependent on the dynamic interdependency of data shared among families It is conceptualized. The focal point of this methodology is on the shared trait of semantic development inside family frameworks. As such, producing doesn’t happen in vacuum, however it happens in a wide scope of ages and social exchange.

Standards are rules end up being followed when performing work to agree to a given objective. Hierarchical achievement relies significantly upon compelling correspondence. So as to successfully impart, it is important to follow a few standards and rules. Coming up next are rules to guarantee powerful correspondence: clearness: lucidity of data is a significant guideline of correspondence. For beneficiaries to know the message plainly, the messages ought to be sorted out in a basic language. To guarantee that beneficiaries can without much of a stretch comprehend the importance of the message, the sender needs to impart unmistakably and unhesitatingly so the beneficiary can plainly and unquestionably comprehend the data.>

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