This is a Human Resource Functions question. Sources should be cited according to APA style.

Scenario

You are a human resources professional who works for a start$-$up company. As is typical for a start$-$up$,$

the company needs to offset the costs of starting a new business with lower compensation. They

intend to do this by designing a new total rewards package. Total rewards packages can be used to

attract and retain talent by offering them desirable benefits in addition to their salary. Your manager

has asked for your input on what to include in the new package. Senior management is concerned that

the current total rewards package is not attractive enough to a distributed workforce. Your manager

has tasked you with creating a proposal summary that will contain your recommendations for a new

total rewards program. You will include a brief overview of a total rewards package and its purpose, as

well as why it adds value to the company. Your manager will use these recommendations in their

presentation to senior management.

Directions

Create a proposal summary that will contain your recommendations for a total rewards program. Use

the Project Two Template, provided in the What to Submit section, for your proposal summary. You

will include four suggested total rewards components for the new program in the Talent Retention

section of your document. Each component should contain the title of the item, describe what it is$,$ and

explain why this component would be attractive to current and prospective employees. You should

summarize your proposal with an explanation of the employee value proposition $($EVA$)$ and how it

relates to total rewards.

Specifically, you must address the following rubric criteria:

Total Rewards: Define the concept of total rewards and its purpose.

A$.$ Explain why a company would use a total rewards package.

B$.$ Discuss how total rewards is important for employee retention.

C$.$ Discuss why total rewards packages are valuable to an employer.

Total Rewards Package: Explain the components of a total rewards package.

A$.$ Describe the different parts of a total rewards package and what value they bring to the

company.

B$.$ Differentiate between monetary and non$-$monetary rewards.

Talent Retention: Explain how total rewards components are used to attract and retain talent.

A$.$ Give four examples of suggested total rewards components and why they might be attractive

to an employee.

B$.$ Consider how additional incentives might affect talent retention.

Employee Value Proposition: Explain the concept of EVP and its relation to total rewards.