Reward Strategy StatementDevelop an effective Total Rewards Strategy Statement for $$your$$ organization $($real or fictitious!$)$This written assignment will allow you to reflect on your learning from chapter one and the goalsfor a successful rewards$/$compensation system. You will need to study the chapter and mayconduct further research on this topic to demonstrate understanding. The inclusion of any facts,opinions, ideas, thoughts etc. which are not your own need to be appropriately cited.$$ This assignment is worth $10\%$ of your final grade.$$ It must be submitted via Blackboard, by the start of class in Week $6.$ The assignment can be completed via a variety of media $($word$,$ powerpoint, video, etc.$).$As guidance, between $500$ and $1000$ words would be expected to meet requirements.$$ Evaluation criteria $$ information organization and demonstrated understanding ofchapter one, elaborating on the points below$$ Creativity, originality, clarity and compelling presentation of information will also bemarked.Design of a total rewards strategy starts with a statement. A total rewards strategy makes astatement that sets the stage for specific policies and programs, and defines theexpectations and actions desired from employees. Most importantly it outlines why and howa company or organization spends most of its money on people.You may $$prepare$$ your statement for the audience of your choice. For prospectiveemployees? For your shareholders? For current employees? For the leadership team? Youmay approach it as a $$proposal$$ you are seeking approval for, or a statement that reflects acurrent situation.You MAY choose to use a $$Real$$ company as the basis for your submission. However,copying something that already exists, or merely listing benefits and rewards provided by acompany is not the intent of this assignment.Your Total Rewards Strategy statement should include:$1.$ Reward Strategy Objectives. This provides the context for the total rewards philosophy$$ especially if the organization is facing particular challenges or is in the process ofimplementing fundamental changes $$ and describes what is important to the organizationincluding the firm$$s mission, key success factors and strategies, and core values. It shoulddefine the overall objective desired from all the total rewards programs, with the realizationthat each program will focus on what it does best. WHAT do we want to achieve through ourrewards system?$2.$ Main Strategy ComponentsIdentify and outline the main components and primary principles of the Total Reward Strategyincluding the mix and specifications of compensation, monetary$/$non$-$monetaryintrinsic$/$extrinsic rewards and$/$or incentives and the policies that support them. HOW mightwe do that? Which types of rewards might achieve the objectives?

Page $|23.$ Key aspects of the strategyCommunicate the use of key primary rewards including base salaries, employee benefits andservices, opportunities for development, careers and recognition, etc. Express theimportance of these programs to the company$$s reward strategy objectives.$$ Why does each program exist?$$ Why is it meaningful to employees?$$ How does it give the organization a competitive advantage?WHY these specific rewards? How will they help achieve the objectives described? How willthey be perceived $($how do you want them to be perceivedw$)?$NOTE: This Assignment is based on Chapter $1,$ although you are free to include relevantinformation from outside that Chapter. You are not expected to include components orspecifics that we will not learn about until later in the course. Keep it general, visionary. Donot attach numbers$/$dollar figures. This is a STRATEGY STATEMENT. The fundamental beliefs onwhich the company can build the specifics