Total Awards Overview- There are a number of approaches to organizational behavior, maximization of groups, innovative working environments, and solution oriented models for business that are adaptive to the needs of the new workforce. Human resources experts all agree that the modern work situation is dramatically different from that of even the 1980s and 1990s. The new generation has different expectations about work, about their participation, and about management. Organizations are now forced to shift away from old ways of compensating and putting together packages that build on strategy for the modern worker to form a win-win situation. One of these methods is called the Total Rewards System which provides a way to both fiscally compensate and reward performance, while offering benefits, work-life rewards, and continual career-based development (Glass, 2007).

Describe each of the top five advantages to a Total Rewards approach- Total Rewards is more than a title -- it is paradigm, an approach, and a way of thinking about business partnerships. Instead of a number of different reward approaches, the Total Rewards package tends to look at the organization as a strategic whole that can find many ways to compensate employees while still attaining its own goals. The top five advantages to instituting such a program are:

Increased flexibility for the organization -- TR packages allow rewards to be mixed to meet the divergent emotional and intellectual needs of the workforce. The flexibility allows for greater growth on both sides, and for each person to be recognized as an individual, with differing goals and needs -- while still fitting in with the overriding business paradigm

Improved Recruitment and Retention -- Organizations now face two serious issues: it is difficult in certain areas to get the right fit of employee, and then with the way the newer generation job hops, to keep those employees. Using a TR package is a strategic way to recruit and retain because it meets more of the employee's needs.

Many companies estimate that it costs them about 30 per cent of the employee's salary if they quit within a year. By reducing these costs, more dollars can be spent on rewards -- and important organizational needs.
Greater visibility in a tightening labor market -- Between demographic shifts and a tighter talent pool because of job specialization and expertise, if the organization gains a greater understanding of what the employee actual values, then can reallocate investment dollars and use as a marketing tool to develop people.

Enhanced profitability -- TR packages are not more expensive because they are not necessarily "more" of everything, but a strategic approach to meaningful rewards. This, in combination with happier employees, makes for a more productive and positive work environment, which in turn leads to an enhanced ROI and greater profits (Worldatwork, 2007).

Describe five common ways a Total Rewards strategy can go astray -- There are five major pitfalls one must be cognizant of to ensure success in the TR Program: 1) If the organization fails to revamp the system as a Total Rewards paradigm, it will likely fail. Instead, revamp the whole structure, not just small pieces; re-engineering in pieces means that the program lacks cohesion; 2) Revamp, but avoid rolling out all at once. Instead, roll out in pieces to ensure pilot testing and fixing of flaws early; 3) Do not limit those involved, but instead, open the communication about the program early in the process; 4) Ensure that a thorough and precise analysis is done prior to implementation, and, 5) Communicate to all levels of the organization regularly and effectively. This will ensure greater buy in and increase the chance for success (Jackson, Schuler, and Werner, 2006).

Describe the six steps in designing a Total Rewards Program -- There are really six basic steps to the initial…