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1. Review the objectives from Week Two, and discuss additional insights and questions that may have arisen.
2. Problem Definition-Reward and Recognition Proposal to Enable Change
The learning teams will work on a project to develop a reward and recognition proposal to enable organizational change such as decreasing time to market. The team will select a change initiative in an organization and develop a complete reward and recognition system around the change initiative.
In completing this assignment, you will:
a. Determine the business unit and change initiative for which the organization needs to develop a reward strategy.
b. Determine what performance levels the organization needs from employees in this business unit.
c. Determine what will motivate the employee to perform in this change initiative.
d. Select a reward and recognition strategy that best matches the needs of the employees and the organization.
e. Design an integrated reward and recognition system.
The following are elements to consider in the reward system:
a. Skill levels and experience of employees in the initiative.
b. The linkage between this change initiative and the employee`s future growth.
c. Job/project complexity.
d. Alignment of the reward system to the organizational objectives, structure and job families.
e. Future compensation trends.
f. Compensation and motivation issues for contingency workers.
g. The role of technology in this process.
h. Key incentive factors.
i. Linkages between performance and incentives.
j. Functional and team incentives.
When designing the monetary rewards section of your proposal, consider the following:
a. Pay ranges (e.g., minimum, maximum levels)
b. Incentives, contests, perks
c. What`s your basis for compensation (e.g., team, individual, or organization)?
d. The general relationship among and within levels of pay (e.g., exempt, non-exempt, overtime pay)
e. Will compensation levels be above, below, or equal to those of competitors?
f. Division of total compensation dollars between salary and benefits
g. Merit pay and pay for performance
h. What kind of benefits package will be offered?
The deliverable for this week is a 1,500-1,700-word approach paper for this reward and recognition proposal. The complete solution for implementing this reward proposal is due in Week Six.
In preparing your approach paper, prepare an action plan to include key tasks (what you will do and how you will do it) and due dates. Be sure to include key resources such as people, data, reports, and articles, among others to be used.
The key word is the approach. The assignment is asking you to identify how you will approach doing the assignment. While there is no minimum length for this assignment, a one- or two-paragraph response will most likely not provide the reader with sufficient detail to demonstrate that you have (a) thought in depth about the assignment and (b) have in place a work plan that will allow you to begin work on the project starting in Week Three and that will ultimately allow you to succeed.
Please Help!!