Total Rewards Compensation Program Essay

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The proper foundation of any successful business starts with the people. Recruiting, and retaining the best human capital possible truly is the bedrock of any company. There are many ways to try to find and keep talented workers; one way do to this is creating the right benefits and compensation package for the culture and success of the company. Stroser Inc., is at a point in which they are looking to expand their business footprint, and along with this expansion it is the time to examine what is best as far as a competitive benefits and compensation program.
One of the reasons why it is important for Stroser Inc., to have a competitive benefits package is that the cost of losing an employee can add up to equal 150 percent of the employee’s …show more content…

The Total Rewards Compensation Program takes a wide-ranging, all-encompassing approach to the employee rewards program. The Total Rewards Compensation Program goes beyond the traditional packages we have seen in the past that concentrated predominately on benefits and pay. The Total Rewards Compensation Program considers all the rewards available in the workplace, including opportunities for learning and development, and a quality work environment; these rewards are a high priority for technical workers (Rumpel et al 2006). Research has shown the Total reward program offers an opportunity to tap the unrealized potential of an organization. Successfully managed rewards will ease the critical pull (recruiting), retention (turn-over) and motivation challenges faced by high-technology firms (Rumpel et al, 2006). The Total rewards program offers an array of options for which to build a unique program catered to the needs of the employees and the culture of the company. A list of possible rewards is listed in Appendix

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