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You are a newly hired compensation manager in an organization that makes packaged cupcakes and other snack bakery items. There are 1450 employees in your one location. You are currently union free. Your organization has a total rewards program but does not know if the total rewards program is cost effective. What numbers are needed to determine whether or not what is offered is worth the administrative hassle, headaches and total labor costs involved? Specifically, discuss one important metric that needs to be measured in the process of evaluating the impact of your firm's total rewards program on recruitment, motivation/productivity and retention levels. How would you go about gathering and/or separating out, and analyzing the information needed?

Keep in mind that hiring a consultant is not an option. Top management feels they have spent enough and want some concrete recommendations from you. This task is yours in your new role as compensation manager.

226 words plus a reference

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Solution Summary

What numbers are needed to determine whether or not what is offered is worth the administrative hassle, headaches and total labor costs involved?

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One of the most important metric that needs to be measured in the process of evaluating the impact of firm's total rewards program on recruitment, motivation/productivity and retention levels is employee turnover ratio and employee absenteeism/attendance records. Such metrics pertaining to employee behavior at work can be collected, monitored and analyzed by HR teams by using modern HR information system ...

Solution provided by:
Sheetal Jain, PGDM
Education
  • BComm, University of Delhi
  • Post Graduate Diploma in Management (Equivalent to MBA), All India Management Association
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