Total Rewards Package
HRM-FPX5310 – Strategic Human Resource Management
Capella University
Scenario:
Design a total rewards package for FFH that addresses pay, benefits, and culture to attract and retain
talent.
Assignment Instructions / Questions:
1. Analyze compensation strategy:
- Should FFH lead, match, or lag the market?
- Include base pay, incentives, and stock options.
2. Outline benefits:
- Health, retirement, wellness, and other employee support programs.
- Explain their impact on recruitment and retention.
3. Address work-life balance:
- Flexible scheduling, remote work, PTO.
- Show how these affect morale and engagement.
4. Plan for growth and development:
- Training, tuition reimbursement, mentoring.
- Connect to long-term retention and innovation.
5. Ensure legal compliance:
- FLSA, Equal Pay Act, FMLA, anti-discrimination laws.
- Demonstrate how FFH can remain compliant while competitive.
Deliverables:
A comprehensive HR plan detailing FFH’s total rewards strategy with recommendations and legal
considerations.
, Total Rewards Package
HRM-FPX5310 Strategic Human Resource Management
Capella University
Total Rewards
Package
, Introduction
The intensifying competition for top talent in today's job market compels
businesses to constantly refine their total rewards package. While FFH has enjoyed a loyal
workforce for over two decades, changing market dynamics raise concerns about the
package's effectiveness. A comprehensive analysis is necessary to identify areas for
improvement. This analysis will encompass all aspects of the total rewards package,
including salary, benefits, and non-monetary offerings. Furthermore, we will determine
FFH's ideal compensation strategy – leading, matching, or trailing the market rate.
Additionally, we will explore the potential benefits of incorporating incentive
compensation options like bonuses, commissions, or profit sharing. Ensuring legal
compliance remains paramount when crafting the total rewards package. Finally, the
recommended strategy will consider cultural and inclusive practices to foster a diverse
and engaged workforce. By addressing these critical aspects, FFH can develop a total
rewards package that attracts, retains, and motivates top talent, propelling continued
success in the competitive landscape.
Components of Total Rewards
A comprehensive rewards strategy goes beyond just a paycheck. It's a structured
approach businesses use to incentivize employees by offering a combination of financial
rewards, valuable benefits, and opportunities for growth. This strategy aims to align
employee efforts with predetermined company goals. It does this by integrating
compensation and benefits packages with clear paths for personal development, all within
HRM-FPX5310 – Strategic Human Resource Management
Capella University
Scenario:
Design a total rewards package for FFH that addresses pay, benefits, and culture to attract and retain
talent.
Assignment Instructions / Questions:
1. Analyze compensation strategy:
- Should FFH lead, match, or lag the market?
- Include base pay, incentives, and stock options.
2. Outline benefits:
- Health, retirement, wellness, and other employee support programs.
- Explain their impact on recruitment and retention.
3. Address work-life balance:
- Flexible scheduling, remote work, PTO.
- Show how these affect morale and engagement.
4. Plan for growth and development:
- Training, tuition reimbursement, mentoring.
- Connect to long-term retention and innovation.
5. Ensure legal compliance:
- FLSA, Equal Pay Act, FMLA, anti-discrimination laws.
- Demonstrate how FFH can remain compliant while competitive.
Deliverables:
A comprehensive HR plan detailing FFH’s total rewards strategy with recommendations and legal
considerations.
, Total Rewards Package
HRM-FPX5310 Strategic Human Resource Management
Capella University
Total Rewards
Package
, Introduction
The intensifying competition for top talent in today's job market compels
businesses to constantly refine their total rewards package. While FFH has enjoyed a loyal
workforce for over two decades, changing market dynamics raise concerns about the
package's effectiveness. A comprehensive analysis is necessary to identify areas for
improvement. This analysis will encompass all aspects of the total rewards package,
including salary, benefits, and non-monetary offerings. Furthermore, we will determine
FFH's ideal compensation strategy – leading, matching, or trailing the market rate.
Additionally, we will explore the potential benefits of incorporating incentive
compensation options like bonuses, commissions, or profit sharing. Ensuring legal
compliance remains paramount when crafting the total rewards package. Finally, the
recommended strategy will consider cultural and inclusive practices to foster a diverse
and engaged workforce. By addressing these critical aspects, FFH can develop a total
rewards package that attracts, retains, and motivates top talent, propelling continued
success in the competitive landscape.
Components of Total Rewards
A comprehensive rewards strategy goes beyond just a paycheck. It's a structured
approach businesses use to incentivize employees by offering a combination of financial
rewards, valuable benefits, and opportunities for growth. This strategy aims to align
employee efforts with predetermined company goals. It does this by integrating
compensation and benefits packages with clear paths for personal development, all within
