Exam (elaborations)
WorldatWork Total Rewards Management Updated 2022/2023
- Course
- Institution
WorldatWork Total Rewards Management Updated 2022/2023
[Show more]
Seller
Follow
Certifiedacademics
Content preview
WorldatWork Total RewardsManagement Updated 2022/2023
What are the Total Rewards Model external influences?- Answer-
Economic, Labor Market, Cultural Norms, and Regulatory
External Influence-Economic- Answer- Rising or falling conditions in the
global economic landscape
External Influence-Labor Market- Answer- Must understand labor
market trends and movements to attract talent at a cost that is
affordable and sustainable
External Influence-Cultural Norms- Answer- Must have a grasp of the
customs, social mores and drivers of the diverse makeup and
expectations of the workforce
External Influence-Regulatory- Answer- Regulatory and legal
environment can vary widely by country and region, affecting the design
and implementation of total rewards
Programs should be assessed to ensure they can legally applied at the
local level
, What are the drivers of the Total Rewards Strategy?- Answer- Business
Strategy, Human Resources Strategy, Organizational Culture
The Business Strategy includes:- Answer- The corporate vision,
corporate mission, and business strategy
Corporate Vision:- Answer- a statement about what the organization
wants to become. It drives the direction of an organization.
Corporate Mission:- Answer- A precise description of what the
organization does, its reason for existence or its purpose for being.
Business Strategy:- Answer- A company's broad plan for competitively
positioning its products or services with the intent to accomplish or
support the company's mission.
What are the steps of the Business Life Cycle?- Answer- Start-up,
Growth, Mature, Decline
Organizational Culture is- Answer- Subject to internal and external
influences and greatly influenced by organization's leadership
HR strategy:- Answer- The organization's overall plan for attraction,
motivation, engagement and retention of employees.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Certifiedacademics. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $11.29. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
83637 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now