Features of an Effective Total Rewards Program Essay

Features of an Effective Total Rewards Program - Essay Example Total rewards program, that is explained in this essay ensures that employees get paid according to their performance. Also, fair payment means that employees get the best value for the work that they do. Equitable payment relates to the ranks of the employees and so it should match their interests according to the organization structure. This essay is focused on a total rewards plan creation. Benefits that employees get should be competitive and should meet their personal needs. Author states that this can be achieved by offering economically feasible benefit plans that meet their needs at personal level. Rewarding also should be done in a fair way. Efforts made by employees to attain a certain goal should be recognized, this can be done by having a rewarding and recognition system that satisfies the employees. Also, the expectations of employees to grow and succeed should be met by the highly managed plan and high-qualified managment. Equity and fairness in payments for both genders, that are defined in this essay can be determined by communication between employers and the employees. In general, equitable pay leads to motivation and increased performance. Also, the plan, created by the magament should be positive. The employee compensation plan should be positive in the sense that both the employees and the employe r are comfortable with the system or program. In conclusion, author states that if payments are competitive for employees, they will do their work with a lot of motivation.