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Essay / Research Paper Abstract
This 8 page paper discusses the concept of the total rewards system and how it could be applied to the U.S. Army. Bibliography lists 5 sources.
Page Count:
8 pages (~225 words per page)
File: D0_HVtotrwd.rtf
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Unformatted sample text from the term paper:
can be applied to the U.S. Army. Discussion The concept of the total rewards system is a tool for enhancing company performance. (It seems similar to things like Total Quality
Management, Six Sigma, just-in-time inventory, etc., that people are always coming up with to help business run more effectively.) A total rewards system is a "blend of monetary and nonmonetary
rewards offered to employees" that can "generate valuable business results" (Heneman, 2007). Heneman uses the example of a small Midwestern foods company to illustrate how total rewards can work.
In this case, the company increased sales, cut costs, increased product quality and raised "employees performance-appraisal ratings," all by changing "the ingredients in its total rewards system" (Heneman, 2007). The
company offered flexible work schedules and similar nonmonetary benefits, but it also "skillfully implemented an organization-wide incentive plan based on corporate performance" (Heneman, 2007). Instead of giving employees pay raises
and bonuses and similar incentives simply because of seniority, rewards programs link rewards to achievement of the organizations strategic objectives" (Heneman, 2007). Some of the innovative rewards included "skill-based pay
and goal sharing" (Heneman, 2007). The result of these non-traditional rewards ranged from "enhanced individual and organizational performance to improved job satisfaction, employee loyalty, and workforce morale" (Heneman, 2007). Heneman
notes that total rewards programs are a relatively new concept, coming onto the scene mostly since 2001. But since companies have begun actually implementing them instead of simply discussing them,
researchers have also wanted to explore the results to see if they are as effective as thought (Heneman, 2007). The research has shown that these programs contain both monetary and
non-monetary incentives, as noted above; also, theyve found that the "specific practices companies use to implement total rewards programs-that is, to design, deliver, executive, and evaluate them-play a critical role
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