Question: a 1. Why is it important that top management understand the connectedness of business strategy, goals, and objectives to any portion of a Total Rewards

a 1. Why is it important that top management
a 1. Why is it important that top management understand the connectedness of business strategy, goals, and objectives to any portion of a Total Rewards program designed and/or implemented? 2. Discuss the value(s) to the company of providing a Total Rewards program that will be a resource for talent attraction, selection, development, and performance effectiveness, competitiveness to market and ongoing budget and management. 3. What makes up a Total Rewards package? Discuss each form of pay, including what is relational returns from work. 4. What is job analysis and how can information be collected? 5. Discuss the differences / approach between job-based structure, job evaluation and person based structure 6. Discuss the methods of job evaluation and which method(s) do you recommend and why? 7. Discuss consequences of structures in defining internal alignment 8. What shapes external competitiveness? 9. Discuss the implications of supply and demand as it relates to market competitiveness? Why is this important for management to understand? 10. Discuss what pay bands/ranges are according to the text. Define both broad banding and traditional pay ranges. What are the advantages and disadvantages of each? 11. Discuss today's economic challenges with hiring and retaining quality employees. Discuss the value of the external market pricing strategy. In other words, how does understanding external salary data, economic conditions and market pricing add value or detract from meeting 3D Die Casting's overall goals, including total rewards objectives? 12. Distinguish between lead, lag and match market strategies. Why is knowing or making this decision important to the pay model total reward process? Explain which one(s) you recommend for the company and why with justification 13. Determine if the company management should link organization strategy to compensation and performance management. Would they receive a ROI? Why or why not? 14. Why should the company consider performance appraisals and how this tool can be connected to rewarding employees? (e.g. merit pay, etc.) 15. Discuss whether management should consider any form of incentive plan (what types). 16. Dicet

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