YU Human Resource Management Balanced Rewards Program

You may get creative here as many of you already have – you may make your own prioritized list of the jobs the CEO is most concerned with.

Have any of you worked for an employer who you believe had a balanced rewards program? Why do you believe so?

Of the five components of the total rewards system (compensation, benefits, work-life, performance & recognition, and development & career opportunities), which one means the most to you when looking at employers? Why is this so?

Take a look at Diana Dosik’s Ted Talk found here: https://www.ted.com/talks/diana_dosik_why_we_need_to_treat_our_employees_as_thoughtfully_as_our_customers#t-446394

How do you think companies can use their total rewards programs to apply some of the suggestions from this Ted Talk?

Of the five components of the total rewards system (compensation, benefits, work-life, performance & recognition, and development & career opportunities), has your value system shifted regarding which area you value the most over time? Why or why not?

Do you think having a flexible total rewards system is important?

If your current employer took back benefits previously provided to you, how would you feel? What particular benefits would be a deal breaker for you? Would you look for a new place of employment in this situation?

Given Covid-19 has impacted workplaces globally, in your experience have you seen more benefits being added or taken away at your place of work? How has this impacted your feelings towards your organization?

How do you think a company should assess:

a) what to modify in a benefits package offered to their employees?

b) what lower cost benefits they can offer their employees if removing some previous options that were offered?

c) if their new benefits package is a valuable contribution to their total rewards package?

Please use material from the course textbook to support your assertions.

Given this situation, what do you feel the company needs to do to retain existing employees, recruit new employees, and maintain employee satisfaction in the long-term?

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