...I. Company requirements for a total rewards system A total rewards system development is part art and part science that begins with a purpose and objective that encompasses the business' values and strategies. This service-based company is spread out over different geographical regions and different employee levels and structure. Therefore, it is even more important that the company aligns the purpose of this total rewards system to what the company is aiming at accomplishing. The most basic elements of a total rewards system are the compensation, benefits, work-life balance, performance and recognition, and personal and career development (World at Work, 2007). The total rewards system/program needs to offer all of these components in order to be considered “total”. For a total rewards system in such a company environment, the system has to be flexible and take into account the diversity of the company. With so many employees in so many different countries, it is important to consider the needs of these diverse peoples and how they can change from region to region and ethnicity to ethnicity. The company will also have to analyze its strategy competiveness in many different markets, so it will be required to perform many types of job analyses and surveys in order to properly determine this. For a service-based company, it is important to create clearly defined benchmarks and goals, while tied to company goals, are easily understood so that all of the multinational...
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...born, the process of socialization occurs. We continuously interact with people at places like school, home, or work, which influence our behaviors and shape the person we become. If we lose the opportunity to interact with others, it gives us little room to construct or maintain a social identity. What a person may imagine as their own reality, can be quickly altered and replaced with new sets of rules, beliefs and even a new sense of self. Erving Goffman, a Canadian-American sociologist, describes an establishment that is capable of causing such drastic changes as a “total institution”. An example of such institution is seen in Frederick Wiseman’s documentary called, “Titicut Follies,” about a state hospital for the criminally insane in Bridgewater, Massachusetts. Through out the film, there were many instances that agreed with Goffman’s theory of what constitutes a total institution. What exactly is a total institution? According to Goffman, this term refers to a place in which people are detached from the rest of society and taken under almost complete control from the staff in charge. It is a place where people who have comparable social situations, like those in the documentary who commit crimes, but are also mentally unstable, reside. They live a confined life, where no boundaries are set for the three spheres of life which include, work, play, and sleep. (Goffman 1961) In a sense, this process tends to dehumanize the individual and strip them away from all the characteristics...
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...Total Rewards System Proposal Shawn Tillman Strayer University HRM533 Total Rewards Dr. Carla Henryhand February 19, 2012 Total Rewards System Proposal 2 Total Rewards System Proposal More and more companies are realizing they get better performance from engaged and connected employees. Many are rethinking their employee strategies. They are developing new ways to identify, engage and retain the right workforce to deliver the corporate growth agenda. The total rewards strategies these organizations are adopting reflect changes to the nature of work and employee expectations. Employers have recognized that employee engagement affects the bottom line. Where rewards programs needs to be changed, and employers are taking advantage of new technology to access better information to support HR decision making. Total rewards strategy is a plan for allocating reward resources in a manner that directs the business to the successful execution of the company objectives. There are three main factors involved in developing and managing a total rewards plan: 1. A thorough understanding of the total value of all of an organizations rewards elements. 2. Its stated market competitive objectives. 3. The strategic allocation and distribution of money, and the delivery of specific and deliberate expressions to employees about what a company values and their...
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...White Paper: An Analysis of Harrah’s Total Rewards Players Rewards Program © 2006 Gaming Market Advisors December 2006 Prepared by Gaming Market Advisors 330 E. Warm Springs Rd Las Vegas, NV 89119 4340 E. Kentucky Ave. Suite 311 Denver, CO 8024 Table of Contents I. SUMMARY OF FINDINGS............................................................................................................................................1 II. PROJECT OVERVIEW..................................................................................................................................................4 Methodology ........................................................................................................................................................4 III. TOTAL REWARD PROGRAM OVERVIEW ..................................................................................................................5 Tiers and Tier Credits ............................................................................................................................................5 Reward Credits .....................................................................................................................................................7 IV. TOTAL REWARDS MARKETING STRATEGY .............................................................................................................11 V. TOTAL REWARDS TIER BENEFITS...................................................
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...Hrm 533 Total Rewards Strategy Proposal Abstract This paper is provided to create, organize, and manage a total rewards program for an insurance company. First, it indicates the requirement of a total rewards system for the company. Then, it formulates a competitive strategy and explains it. Since the communication of a strategy is as important as the strategy itself, the paper includes a communication plan of the strategy. And last but not least it studies devising a competitive pay structure. 1. Create a brief overview of the company requirements for a total rewards system. Company A is a holding company that provides financial protection, insurance and asset management services that employs 20,000 employees in 17 different countries in Europe, North America and Asia Pacific (The Datamonitor Group, 2011). There are 2,000 management-level individuals who speak a variety of languages. The company employs diverse individuals who are governed by multiple regulatory environments. Company A’s business finds its primary source of strength in human competencies. The company believes in the power of talented and dedicated employees to make difference on the quality of the service delivered at the market. The company aims at gaining the preference of its customers and shareholders as well as its employees. Because the employees are at the core of purpose, the company intends to build its collective success around a relationship in which the needs of itself and...
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...3. Question 2………………………………………………………………………………………………………….8 4 .Question 3…………………………………………………………………………………………………….…..9 5. Recommendation…………………………………………………………………………………………….11 6. Conclusion………………………………………………………………………………………………………..12 7. Bibliography……………………………………………………………………………………………………..12 Executive Summary BT Group a world leader in telecommunication started a new division called BT Retail. This division was providing telecommunication solutions to 21 million customers in the UK. Their first CEO, Pierre Danon, instilled a culture that saw the division excel for a number of years. This culture was driven by all top management and its employees in order to realise their set targets. The culture that was adopted by BT Retail was total quality management (TQM) throughout the organisation. This meant that all top management displayed and practised TQM. The author takes us through what is TQM and what are the principles that BT Retail instilled in order to gain customer satisfaction. The following principles were discussed: * Customer Focus * Continuous Improvement * Employee involvement and Empowerment * Systems Thinking. These four pillars made sure that BT Retail was able to reduce the cost of poor quality, through continuous improvement methods and early identification of problems. In turn there was a decline in defective work, decline in dissatisfied customers, very little inspection was required and an increased sense of prevention. BT retail remained...
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...Total Quality Jennifer Schilling-Shaw University of Phoenix Student MGT/449 February 11, 2012 Jennifer Schilling-Shaw University of Phoenix Student MGT/449 February 11, 2012 Elements and Future Elements and Future Quality? Quality involves meeting or exceeding the customer’s desires or expectations and can form from products, services, people, processes, and surroundings (Goetsch & Davis, 2010). Most will judge the quality of services, people who provide the services, response time, price, environment, and overall satisfaction. Many different individuals have brought useful information to form total quality including Deming, Juran, and Crosby. Today all elements from total quality management are useful to help the organization meet the customer expectations and employee satisfaction. Total quality is about continuous improvement of the quality of services, products, processes, people and the environment (Goetsch & Davis, 2010). Total quality has 11 critical elements that helps grasp total quality within the whole organization. First it is important for an organization to have a strategic base that includes a vision, mission, broad objectives, and actions that will accomplish the broad objectives. Customer focus also is important which looks to satisfy both the internal customers work together within the organization surrounding the quality of product or services and external customers value the level of quality of the delivered products or...
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...Total Quality Management in Hospital Pharmacy Introduction Hospital pharmacies in the present day context face various issues including cost containment, productivity and leadership, patient safety, medical-legal and ethical considerations, human resource management and application of new technological developments in the functioning of the pharmacies. The pharmacists employed by the hospitals are expected to attend to a number of different functions that include writing down therapy management plans and desired patient outcomes, monitoring the drug-based therapies, educating patients and counseling them and writing medication histories. Despite these many different functions being discharged by the pharmacists, hospitals find it difficult to recruit pharmacists (Smith). At the same time many of the hospitals take initiatives like staff reductions due to lower patient concentration, reorganization of the hospital facilities, carrying out recommendations of external consultants, implementing automation in drug distribution and mergers and acquisitions of hospitals. In this context, a methodological review of the operations of a hospital becomes necessary for improving the efficiency and functioning of the healthcare settings. One of the recommendations is to apply Total Quality Management (TQM) for improving the performance of pharmacies in the hospitals. Although TQM has been practiced in manufacturing industries for quite some time, it is relatively a newer concept in...
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...Total Rewards System Proposal: Managing a total rewards program Create a brief overview of the company requirements for a total rewards system. Herizon is the largest telecommunications and broadband companies in the United States. We employ 20,000 employees in 17 different countries. We have a very diverse workforce with 2,000 management-level individuals who speak a variety of languages. We at Herizon believe having the right talent, at the right cost is what keeps our company striving. Our total rewards program delivers values that attract, retain and engage a mixture of talent across the globe while maintain a solid value for cost. As a leading telecommunications company we take pride in not only serving our customers but, our employees too. This is why we take great pride in our total rewards program. We want to make sure that we attract the best to work for our company, by offering the best. Our total rewards system is geared towards all of our employees. We have structured a program that will meet the needs of everyone, our total rewards program offers diversity. We have developed a plan that will offer great compensation, along with career development, retirement planning, profit sharing, and work life balance. We want our employees to know that we are a one stop shop. Our total rewards program is geared to keep our employees and to grow them within our organization. We care about your future and we take pride in knowing that our people are taken care...
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...Total Rewards Systems Proposal Your Name here Name of the University Instructor Name here HRM 533- Total Rewards Date Abstract This paper is provided to create, organize, and manage a total rewards program for an insurance company. First, it indicates the requirement of a total rewards system for the company. Then, it formulates a competitive strategy and explains it. Since the communication of a strategy is as important as the strategy itself, the paper includes a communication plan of the strategy. And last but not least it studies devising a competitive pay structure. 1. Create a brief overview of the company requirements for a total rewards system. Company A is a holding company that provides financial protection, insurance and asset management services that employs 20,000 employees in 17 different countries in Europe, North America and Asia Pacific (The Datamonitor Group, 2011). There are 2,000 management-level individuals who speak a variety of languages. The company employs diverse individuals who are governed by multiple regulatory environments. Company A’s business finds its primary source of strength in human competencies. The company believes in the power of talented and dedicated employees to make difference on the quality of the service delivered at the market. The company aims at gaining the preference of its customers and shareholders as well as its employees. Because the employees are at the core of purpose, the company...
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...Total Quality Management may be defined as “managing the entire organization so that it excels on all dimensions of products and services that are important to the customer” (Mcgraw –Hill 2005, p. 320). Total Quality Management was developed in the 1950’s but became a national concern in the United States in the 1980’s primarily as a response to Japanese quality superiority in manufacturing automobiles and other durable goods such as room air conditioners. Another way to look at it total quality is a description of the approach, values and organization of a company that strives to provide customers with products and services that satisfy their needs. Total Quality Management has two fundamental operational goals, making sure that the design of the product or service is done correctly and ensuring that the design or service has consistency. In order to successfully implement TQM, an organization must concentrate on the eight key elements: * Executive Management – Top management should act as the main driver for TQM and create an environment that ensures its success. * Training – Employees should receive regular training on the methods and concepts of quality. * Customer Focus – Improvements in quality should improve customer satisfaction. * Decision Making – Quality decisions should be made based on measurements. * Methodology and Tools – Use of appropriate methodology and tools ensures that non-conformances are identified, measured and responded to...
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...Total Quality Management is a management approach that originated in the 1950s and has steadily become more popular since the early 1980s. Total Quality is a description of the culture, attitude and organization of a company that strives to provide customers with products and services that satisfy their needs. The culture requires quality in all aspects of the company’s operations, with processes being done right the first time and defects and waste eradicated from operations. Total Quality Management, TQM, is a method by which management and employees can become involved in the continuous improvement of the production of goods and services. It is a combination of quality and management tools aimed at increasing business and reducing losses due to wasteful practices. Some of the companies who have implemented TQM include Ford Motor Company, Phillips Semiconductor, SGL Carbon, Motorola and Toyota Motor Company. TQM is a management philosophy that seeks to integrate all organizational functions (marketing, finance, design, engineering, and production, customer service, etc.) to focus on meeting customer needs and organizational objectives. TQM views an organization as a collection of processes. It maintains that organizations must strive to continuously improve these processes by incorporating the knowledge and experiences of workers. The simple objective of TQM is “Do the right things, right the first time, every time.” TQM is infinitely variable and adaptable. Although originally...
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...Total Productive Maintenance Made by: Khaled Elsayed Hamed Supervised by: dr.Mousa Abstract Total productive maintenance (TPM) is a concept applied to improve the overall equipment efficiency (OEE) and the capabilities and skills of the workers in the plant. It is founded on eight pillars to support the concept And achieve three goals. Japan institute of plan maintenance (JIPM) is the leading body of TPM. The history of Total Productive Maintenance (TPM) TPM has been developed from the original PM (preventive maintenance or productive maintenance) concept and methodology introduced from the USA. It has been further developed and implemented in many Japanese companies, and is now rapidly becoming a method applied worldwide. In 1971, Nippon Denso Co., Ltd. first introduced and successfully implemented TPM in Japan. They won the Japan Institute of Plant Maintenance (JIPM) PM Excellent Plant Award for their activities. This was the beginning of TPM in Japan. Since then, TPM has spread progressively throughout the world and established itself as a renowned cultural improvement programme The first example of TPM used in Europe to deliver world class performance was by Volvo in Ghent, Belgium, who won the PM prize for their work in the paint shop. This was quickly followed in the early 1990s by other European automotive companies trying to close the productivity and quality gap to their Japanese competitors. Since the JIPM TPM awards were founded, over 3000 organizations...
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...1A. TQM Total quality management (TQM) is an improvement program which provides tools and techniques for continuous improvement based on facts and analysis; and if properly implemented, it avoids counterproductive organizational infighting. The most popular approach to continuous improvement is known as total quality management (TQM). There are two major characteristics of total quality management (TQM) a focus on serving customers and systemic problem solving teams made up of front line workers. Benefits Total Quality Management: * Strengthened competitive position * Adaptability to changing or emerging market conditions and to environmental and other government regulations * Higher productivity * Enhanced market image * Elimination of defects and waste * Reduced costs and better cost management * Higher profitability * Improved customer focus and satisfaction * Increased customer loyalty and retention * Increased job security * Improved employee morale * Enhanced shareholder and stakeholder value * Improved and innovative processes Advantages of Total Quality Management: * Improves reputation- faults and problems are spotted and sorted quicker * Higher employee morale– workers motivated by extra responsibility, team work and involvement in decisions of TQM * Lower costs – Decrease waste as fewer defective products and no need for separate * Quality Control inspectors (Quay,2012) Lean Manufacturing ...
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...Assignment 2 Question: 2a) Explain the level of TQM adoption in detail with relevant examples. 2b) Explain the stages in design and development. Explain the features which could enhance the quality in product design at the conceptual stage. 1.0 Level of Total Quality Management Adoption The Six different levels of TQM implementation, this includes uncommitted, drifters, tool pushers’ improvers’ award winners and world class. According to them, these stages do not necessarily represent the stages through which organizations pass on their TQM journey. These levels are to help organization in identifying their weaknesses and proffering solutions to them through the use of continuous improvement. (Dale and Lightburn 1992) 1.1 Uncommitted This stage represents organizations that have not started a formal procedure of quality improvement. Organizations in this stage view quality improvement as an added cost and thus have no investment in quality improvement program such as training of employees. Organizations in this stage are termed uncommitted because they are not aware of the benefit of quality improvement and lack an appropriate quality improvement plan. The management of these organizations is characterized by an emphasis on return of sales and net asset employed. For example: non-attendance the meeting, failure to respond to requests the data, and not doing what they had agreed to do. Other common features of this level include: • A major concern for meeting...
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