Total rewards communication plan template

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

Welcome

Base salary

Bonuses

Vacation

Time off

Other forms of paid leave

Mandated benefits

Contribution to a 401(k) retirement account

Job related training

Discretionary benefits

earnings: company cost

annual income $30,172.00

(incorporates time off value)

2019 bonus $300.00

total earnings $30,472.00

benefits:_

mandated benefits

medical $5,400.50

life insurance $515.60

discretionary benefits

vacation leave $600.50

sick leave $200.00

maternity leave $450.64

other forms of paid leave $1,000.00

retirement

401 (k) estimated match $1,500.00

other company provided benefits

job related training $1,200.00

total benefits $10,867.24

time off:

paid time off $1,100.24

holidays $900.65

2020 Total Reward Package Value $43,340.13

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

Communication program

Audience

Project

Objective

Content/key messaging

Responsibility

Base salary

Payroll clerks

Document

Establish a salary scheme that encompasses all the facets of benefits in parallel with management work

Develop a comprehensive model for base salaries that is compatible with the current system’s output (Rossmann, 2019).

Head of Human Resource

Contribution to a 401(k) retirement account

Fidelity investment

Document

Establish 401k plan that motivates employees to save for retirement particularly through pretax deductions

An expansive explanation of the benefits of saving for retirements

Head of Human Resource

Mandated benefits

HR Department

Document

Create and communicate mandated benefits

Should be provided without favor to all employees so as to improve their productivity

Head of Human Resource

Time off

Payroll clerks

Document

Develop PTO that recognizes that not only recognizes the values of time taken away from the workplace but also the one based on your length of service

Must assume 12 months of full-time employment

Head of Human Resource

Job related training

Executive team

Document

Job training will be documented in employee manual and may include changes incorporated because of feedback from the employees.

Facilitate the employees to balance the demands of work, life and personal issues

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.