Application Total Rewards And Competitive Advantage Mapping

Application Total Rewards And Competitive Advantagemapping Is A Techn

Application: Total Rewards and Competitive Advantage Mapping is a technique that is often used in the business world to track and measure various indicators. Product positioning maps, business process maps, and strategic roadmaps are all examples of mapping tools that visually represent key information for organizational leaders to analyze. Another type of map that is applicable for analyzing total rewards is the compensation strategy map. A compensation strategy map provides a snapshot of an organization’s total rewards package and how it relates to different strategic objectives. An effective compensation strategy map can help determine the total rewards message conveyed to employees.

In addition, the map can be used to determine how well a total rewards package aligns to an organization’s strategic objectives. If the map indicates that the total rewards do not align, the organization may need to reconsider its total rewards package. In this assignment, create and analyze a map of the compensation strategy for an organization of your choice. You may select the same organization that you chose for this week’s discussion. Then, use Exhibit 2.8, “Contrasting Maps of Microsoft and SAS,” from the course text to map your selected organization’s compensation strategy.

To complete this assignment, analyze the total compensation strategy for an organization of your choosing:

• Part 1: Using Exhibit 2.8 (Chapter 2), create a compensation strategy map for the organization you selected. Note: Exhibit 2.8 compares two organizations. For the purposes of this assignment, you are required to map the compensation strategy of only one organization. But the template you create must include all of the objectives listed in Exhibit 2.8. Include this map as an appendix, following APA styles.
• Part 2: Analyze an organization’s total compensation strategy in a 2- to 3-page paper:
• Briefly describe the rationale behind the placement of each of the points on your compensation map. Cite references to your research where applicable.
• Summarize the key points of your organization’s strategy.
• To what extent, if any, does the organization’s compensation strategy align to its strategic goals? Support your answer by providing examples of alignment or misalignment.

Paper For Above instruction

The purpose of this paper is to analyze the compensation strategy of an organization through the creation of a comprehensive compensation strategy map, followed by an in-depth discussion of its alignment with organizational strategic goals. To illustrate this, I selected Google Inc., a technology giant renowned for its innovative approach to employee compensation and benefits. Utilizing Exhibit 2.8 from the course text as a template, I developed a detailed compensation map that reflects Google’s strategic remuneration objectives, which include attracting top talent, fostering innovation, and ensuring employee satisfaction.

In constructing the compensation strategy map, the placement of each point was carefully considered based on documented organizational practices and strategic priorities. For instance, Google’s emphasis on high base salaries and significant performance bonuses was mapped under objectives aimed at attracting and retaining top talent (Bock, 2015). Additionally, Google’s focus on offering extensive benefits such as health care, parental leave, and wellness programs was positioned to support employee well-being and foster a positive work environment, aligning with their strategic goal of maintaining high employee satisfaction and engagement (Schmidt & Rosenberg, 2014). These strategic choices are underpinned by Google's intrinsic value of innovation, which necessitates a motivated, healthy, and well-compensated workforce.

The key points of Google's total compensation strategy include competitive pay structures, extensive benefits, and performance-based incentives. Google aims to offer a total rewards package that not only attracts skilled professionals but also encourages innovation and productivity (WorldatWork, 2021). Their approach incorporates a mix of monetary and non-monetary rewards, such as career development opportunities and a vibrant work culture, which collectively support their business objectives and corporate culture.

The alignment of Google's compensation strategy with its strategic goals is evident in various initiatives. For example, Google’s competitive base pay and performance bonuses directly support their goal of attracting and retaining top talent in the technology industry, which is highly competitive (Bock, 2015). Moreover, their significant investment in employee wellness and development aligns with their strategic focus on fostering innovation and maintaining high levels of employee satisfaction. Conversely, potential misalignments could arise if compensation costs outweigh the benefits or if performance incentives do not result in desired organizational outcomes, but Google’s strategic focus on innovation mitigates these risks.

Overall, Google’s compensation strategy effectively supports its strategic objectives, especially through a balanced mix of monetary and non-monetary rewards that promote innovation, employee engagement, and retention. The strategic map devised provides a visual representation of these priorities, highlighting how compensation objectives translate into organizational success. Continuous evaluation and adjustments ensure that the compensation strategy remains aligned with evolving business goals and market conditions.

References

• Bock, L. (2015). Work Rules!: Insights from Inside Google That Will Transform How You Live and Lead. Twelve.
• Milkovich, G. T., Newman, J. M., Gerhart, B., & Martocchio, J. J. (2011). Compensation and benefits (4th ed.). McGraw-Hill Irwin.
• Schmidt, E., & Rosenberg, J. (2014). How Google Works. Grand Central Publishing.
• WorldatWork. (2021). The Strategic Role of Compensation. WorldatWork Journal, 35(2), 45-52.
• Additional scholarly sources relevant to compensation strategy and organizational alignment should be included to strengthen the analysis.