A Substantive Post Should Follow This General Criteri 249159
A Substantive Post Shouldfollow This General Criteria Though All Are
A substantive post should follow this general criteria, though all are not required in each post: · Range from 175 to 300 words for all responses · Integrate theory, research, and/or professional experience · Include specific examples and/or substantiating evidence · Include in-text citations and references in APA format · Stay on topic and address the course objectives · Demonstrate proper spelling, grammar, and scholarly tone ( I may adjust grades for grammar based on autograding scores) Due Thursday Respond to the following in a minimum of 175 words: · What is meant by a Total Rewards Strategy? What does it include and why is it important to align with the HR strategy? How can a company use benefits to improve engagement, productivity, and performance? What is the workforce planning process? What does it include? Why is it important?
Paper For Above instruction
A Total Rewards Strategy is a comprehensive framework that organizations implement to attract, motivate, and retain employees by offering a holistic package of compensation, benefits, development opportunities, work-life balance, and recognition. It goes beyond traditional salary structures to encompass tangible and intangible rewards aligned with organizational goals and employee needs. According to Milkovich, Newman, and Gerhart (2016), integrating these elements ensures the organization remains competitive and fosters employee engagement.
The components of a Total Rewards Strategy include base salary, incentives, health and wellness benefits, retirement plans, recognition programs, career development opportunities, work environment, and work-life balance initiatives. This strategy's core purpose is to align employee motivations with organizational objectives, thereby enhancing overall performance. When benefits such as health insurance, flexible work arrangements, and development programs are strategically aligned with the company's HR strategy, they contribute to increased engagement and productivity (Bakker & Demerouti, 2017). For example, offering flexible working arrangements can improve work-life balance, reducing burnout and increasing job satisfaction, which positively impacts performance.
The importance of aligning rewards with HR strategy lies in creating a cohesive approach that supports organizational objectives while addressing employee needs. A well-aligned strategy enhances retention, reduces turnover, and attracts top talent (Armstrong & Taylor, 2020). Companies can leverage benefits to motivate employees by personalized recognition, performance-based incentives, and professional development, fostering a committed workforce capable of improved performance and innovation.
Workforce planning is a strategic process that ensures an organization has the right number of skilled employees, in the right positions, at the right time. It includes analyzing current workforce demographics, forecasting future workforce needs, identifying gaps, and implementing recruitment, training, or restructuring strategies. According to Beardwell and Thompson (2017), effective workforce planning is vital because it helps organizations anticipate labor shortages or surpluses, leading to proactive decision-making that sustains competitive advantage and organizational agility.
In essence, both a comprehensive Total Rewards Strategy and effective workforce planning are vital HR functions. Together, they help organizations attract and retain talent, foster engagement, and maintain operational efficiency—ultimately supporting long-term success.
References
- Armstrong, M., & Taylor, S. (2020). Armstrong's Handbook of Human Resource Management Practice (15th ed.). Kogan Page.
- Bakker, A. B., & Demerouti, E. (2017). Job demands–resources theory: Taking stock and looking forward. Journal of Occupational and Organizational Psychology, 90(1), 89–90.
- Beardwell, J., & Thompson, A. (2017). Human Resource Management: A Contemporary Approach (8th ed.). Pearson.
- Milkovich, G. T., Newman, J. M., & Gerhart, B. (2016). Compensation (11th ed.). McGraw-Hill Education.