Deliverable 5 – Total Rewards Statement and Communication Plan

Competency

Evaluate the relationship between total rewards systems and employee engagement and motivation.

Scenario

You are the VP of HR for a medium-sized credit card processing company of 1,000 employees. Recent results from an employee engagement survey indicate that the majority of employees in your company do not understand the full component and value of direct and indirect compensation received; as a result, engagement levels are not as high as desired. The CEO has asked you to provide a recommendation on how the organization can become more transparent about compensation and rewards with employees. You have decided to prepare an example of an annual total rewards statement for employees, as well as a communication plan for the total rewards statement.

Instructions

Part One – Total Rewards StatementCreate an example of a total rewards statement with headings for each topic for an individual employee that:

• Describes base salary.
• Explains bonuses.
• Details vacation, paid time off, other forms of paid leave.
• Discusses mandated benefits.
• Summarizes employer contributions to a 401(k) retirement account.
• Indicates job-related training to improve employee engagement and motivation.
• Lists at least three other discretionary benefits.

Part Two – Written Communication PlanCreate a written communication plan to be used to introduce the total rewards statement to employees that:

• Illustrates the communication channel.
• Assigns responsibility for who in the organization will communicate the launch of this initiative.
• Generates key messaging to be used in the communication to generate employee engagement and motivation.
• Specifies the audience of the communication.
• Designs the project plan for issuing total rewards statements with significant dates in the plan.
• Includes attribution for credible sources used in the statement and communication plan.

Running head:

REWARDS STATEMENT AND COMMUNICATION PLAN 1

REWARDS STATEMENT AND COMMUNICATION PLAN 1

NEED TO TURN A B INTO AN A

Total Rewards Statement and Communication Plan

Feedback to Learner1/29/21 9:03 AM

Thank you for your deliverable 5 assignment submission. The table you included provided a nice summary of the total rewards for employees. I also enjoyed reading your communication plan and associated responsibilities. There were a couple of key points missing that I recommend you revise. Please see the specific feedback below. For example, there was not a section to address the rubric requirement of significant dates. The only thing mentioned regarding timing was that someone must be a full-time employee for 12 months to be eligible for PTO benefits. Think about this from a project plan perspective. Who are the key stakeholders? How should the messaging be communicated? Are you conducting information sessions, webinars, sending out emails or infographics? This should all be part of your communication plan. Additionally, what is the cadence of the messaging? 

Lastly, I encourage you to use more relevant, scholarly references. What you have provided thus far is a good start, but I encourage you to expand upon this assignment submission. 

You have been awarded an overall score of 3 for this assignment. I encourage you to revise and resubmit based upon the feedback give. 

The rubric is below for your reference. 

Score 4: Strongly described base salary using thorough example(s) in a well- crafted total rewards statement.

Thank you for providing this example in your rewards statement.

Score 4: Strongly explained bonuses using thorough example(s) in a well- crafted total rewards statement.

You created a line item to address bonuses in the rewards statement.

Score 4: Strongly detailed vacation, paid time off, other forms of paid leave using thorough example(s) in a well- crafted total rewards statement.

You identified these areas in the statement by creating clear categories.

Score 4: Strongly discussed mandated benefits using thorough example(s) in a well- crafted total rewards statement template.

Thank you for addressing these benefits.

Score 4: Strongly summarized employer contributions to a 401(k) retirement account using thorough example(s) in a well- crafted total rewards statement.

I appreciate that you accounted for the retirement account information. 

Score 4: Strongly indicated job-related training to improve employee engagement and motivation using thorough example(s) in a well- crafted total rewards statement.

The financials associated with job related training were included in the statement.

Score 4: Strongly listed at least three other discretionary benefits using thorough example(s) in a well- crafted total rewards statement.

Thank you for identifying other discretionary benefits.

Score 4: Strongly illustrated the communication channel using thorough example(s) in a well- crafted communication plan.

You identified who is included in the communication channel by presenting this information in your embeded table. 

Score 4: Strongly assigned responsibility for who in the organization will communicate the launch of this initiative using thorough example(s) in a well- crafted communication plan.

Thank you for identifying the HR contact as being responsible for the transmission of the information. 

Score 4: Strongly generated key messaging to be used in the communication to generate employee engagement and motivation using thorough example(s) in a well- crafted communication plan.

I appreciate that you identified this informaiton in your chart. 

Score 3: Designed the project plan for issuing total rewards statements (i.e., significant dates in the plan), clear example provided.

A discussion about significant dates, etc. was not provided. The only thing mentioned regarding timing was that someone must be a full-time employee for 12 months to be eligible for PTO benefits. Think about this from a project plan perspective. Who are the key stakeholders? How should the messaging be communicated? Are you conducting information sessions, webinars, sending out emails or infographics? This should all be part of your communication plan. Additionally, what is the cadence of the messaging? 

Score 4: Used and relied on all credible sources in a well- crafted total rewards statement and communication plan.

This is a good start, but I encourage you to conduct more scholarly research in order to support your writing. 

Total Rewards Statement and Communication Plan

Part one

Total rewards 2020

Personalized for: an individual employee

Bonuses

Vacation

Other forms of paid leave

Contribution to a 401(k) retirement account

Discretionary benefits

The company is pleased to offer you the above personalized statement of each employee earnings and benefits for 2020 (Riaz et al., 2018). It is therefore, our sincere hope that all the outlined protection and security of all the benefits will accord you a better life today and by extension a prosperous future.

As an employee, this personalized statement will not only provide you a summary of your benefits, but also offers cost of benefits information, which is a very essential tool when tallying your entire compensation. Of great importance is that the information herein is a reflection of you, your earnings, the benefit choices and your future. So, because some of these earnings are dependent upon your earnings and length of service with our company, their value will multiply as earnings and service years advance (Riaz et al., 2018). The company is working to provide all the employees with a benefit package that is continually competitive within the industry and the community. All your efforts are greatly appreciated as you continue with the service and dedication to the company.

Part two

Written Communication Plan

Document

Document

Head of Human Resource

Payroll clerks

Head of Human Resource

Document

This plan offers a roadmap for communicating the reward statement, the data, information and knowledge about it (Rossmann, 2019). It is actually a type of action plan that will be helpful for this company in terms of identification of content, goals, responsibilities, sources, audience, format and the path for a list of planned communication.

References

Riaz, H., Akhtar, C., & Aslam, R. (2018). Total rewards and employee performance: Investigating the mediating role of employee motivation in telecom sector. Pakistan Administrative Review, 2(3), 342-356.

Rossmann, D. (2019). Creating an organizationally embedded strategic communication plan for libraries. Library Leadership & Management, 33(2), 1-17.