[Solved] Core Steps of Designing a Total Rewards Philosophy

Please see the attached documents. Again, the files have the name of the book and a link to help you with the resources and citations. 

Module4_DesigningandImplementingaTotalRewardsProgram.pdf

QuestionsandInstructions.docx

Chapter3_SpecialConsiderations.pdf

Chapter1_WhyCommunicationisEssentialtoTotalRewards.pdf

Book Title: UMGC. (n.d.). Module 3: Core Elements of Non-monetary Rewards and Work Experience
Link: https://learn.umgc.edu/d2l/le/content/715326/viewContent/29088054/View
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Commentary
Module 4: Designing and Implementing a
Total Rewards Program
Topics
Topic 1: Core Steps of Designing a Total Rewards Philosophy
Topic 2: Segmentation of the Workforce
Topic 3: Implementing the Total Rewards Philosophy
Topic 4: Communicating/Marketing Total Rewards
Topic 5: Conclusions

Topic 1: Core Steps of Designing a Total Rewards Philosophy
Nine core steps in the strategic marketing approach of designing a total rewards program and
implementing it are summarized in table 4.1 below. In this first topic, the focus is on steps 1-5
(the designing steps) and each is described in sequence. The remaining steps (6-9) are addressed
in topic 3. The steps are presented in a sequential manner, but the organization may perform
some of the steps concurrently. The steps may also vary if the organization is a start-up
organization, one that is long established, or if a total rewards strategy is already in place.
Table 4.1 Core Steps in Designing and Implementing Total Rewards

Designing:
Step 1: Understand the organization
Step 2: Define the requisite KSAs required for success
Step 3: Identify current and potential employees’ “drivers”
Step 4: Design a total rewards philosophy statement
Step 5: Assess financial costs and plans with key leadership
Implementing:
Step 6: Pilot the total rewards assumptions
Step 7: Develop timeline, obtain vendors, assign duties
Step 8: Implement plan
Step 9: Communicate and market

https://learn.umgc.edu/d2l/le/content/715326/viewContent/29088054/View
https://leocontent.umgc.edu/content/umuc/tus/hrmn/hrmn395/2228/modules/m4-module-4/s3-commentary.html?ou=715326