Question: Title Task 1 Introduction A competitive total rewards plan is essential to attracting quality talent and personnel who can contribute to the success of an
Title Task 1 Introduction A competitive total rewards plan is essential to attracting quality talent and personnel who can contribute to the success of an organization. An effective total rewards plan includes both compensation and benefits. In this task, you will create a market research-based total rewards strategy that includes a detailed compensation plan for a fictional business called The Bravo Center. This will be essential forrevitalizing organization like The Bravo Center, whose new owners have committed their efforts to making the organization a success. Refer to the supporting scenario, market research documents, and the Common Law Test to guide your work. Scenario: See the supporting documents: Bravo Center Scenario, Market Research Data, and the Common Law Test. "Note: Read the task directions and the task rubric. Reference Bravo Center Scenario for scenario details, Market Research Data for a visual to help you determine lead, lag, or match market strategy, and Common Law Test for factors to determine contingent worker status. This guide should be used with Section 1, Section 2, and Section 3 in the course and the corresponding textbook chapters. ."The Bravo Center Scenario, the Market Research Data, and the Common Law Test are the only supporting documents for Task 1. A. Create a total rewards strategy based on a lead, lag, or match approach to the market competition that supports the organizational goals by doing the following (see the attached "The Bravo Center Scenario" for organizational goals): 1. Based on external market research (provided In the attached "Market Research Data" document), Internal equity, or the needs ( WESTERN GOVERNORS UNIVERSITY PAGE 1 VGM2: Total Rewards Strategy: Compensation The Bravo Center Scenario of the organization, explain how your total rewards strategy will lead the market, lag the market, or match the market, Including a justification for your decision. . Read the Task Directions, Rubric and the Bravo Center Scenario. . Reference Section 1: Lesson 1 reading Textbook pages 2-20 and Section 2: Lesson 7 Textbook pages 173-175. . Determine your Total Reward Strategy. Will you meet, lag, or lead the market? Why? How will this enable the organization to reach their goals based on the task scenario? . 2-4 sentences each to explain your response. 2, Explain how your total rewards strategy supports the following two goals; . recruitment of understaffed sections of the organization (IT & Marketing) . retention of understaffed sections of the organization (IT & Marketing) . Review Section 1 in the course and Textbook pages 57-75