Differentiating total rewards to attract employees with the requisite
competencies the organization needs in order to achieve its goals and
objectives is one of the key functions of the HRM function.
Differentiating compensation, benefits and workplace environment such as
flex schedules, teleworking or job sharing to fit the needs and desires
of different segments of the workplace is a strategy most organizations
engage in order to attract and retain the needed employees.
Select two segments of the workforce such as recent university
graduates, parents with young children or recently retired military
(just a few examples – you may select other categories). Provide a short
description of the compensation and benefits you would design unique
for each of the two segments.
Provide your rationale for your differentiation.
The Affordable Care Act has
changed the way we think about insurance benefits. What has your
experience been with the ACA? Has it went smoothly or did it present
opportunities to explore other avenues of insurance. If you have not
experienced ACA, though it is highly unlikely, find someone who has and
use their experience.
Discussion Three: Application
Internal equity and external competitiveness are two of the core
elements of effective compensation plans. If you are employed, ask your
HRM department what steps are taken by them to ensure internally that
compensation is assigned in an equitable manner and externally, the
compensation for benchmark positions are competitive. If you are not
employed, you may either seek the answers from an organization of your
choice or research the needed steps and describe the needed steps.