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SHRM-CP - Total Rewards | Latest Update | 2024/2025 | 100% Pass
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SHRM-CP - Total Rewards | Latest Update | 2024/2025 | 100% Pass What is the primary purpose of a total rewards strategy? To attract, motivate, and retain employees by offering competitive compensation and benefits. How can non-monetary rewards impact employee satisfaction? They can enha...

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  • October 19, 2024
  • 17
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • shrm cp total rewards latest update 2024202

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SHRM-CP - Total Rewards | Latest
Update | 2024/2025 | 100% Pass

What is the primary purpose of a total rewards strategy?


✔✔ To attract, motivate, and retain employees by offering competitive compensation and

benefits.




How can non-monetary rewards impact employee satisfaction?


✔✔ They can enhance job satisfaction and engagement by recognizing employees’

contributions.




What are the key components of a total rewards package?


✔✔ Compensation, benefits, work-life balance, recognition, and career development

opportunities.




How does effective communication enhance a total rewards program?


✔✔ It ensures employees understand their benefits and appreciate the value of their total

rewards.




1

,What is the role of benchmarking in total rewards?


✔✔ It helps organizations compare their compensation and benefits against industry standards to

remain competitive.




How can HR customize total rewards for different employee groups?


✔✔ By offering flexible benefits that cater to the diverse needs and preferences of employees.




What impact does a well-structured total rewards program have on employee retention?


✔✔ It can significantly reduce turnover by making employees feel valued and satisfied with their

compensation and benefits.




How can recognition programs be integrated into a total rewards strategy?


✔✔ By incorporating formal recognition initiatives that acknowledge employee achievements

and contributions.




What is the importance of compliance in total rewards?


✔✔ Ensuring that compensation and benefits practices adhere to legal requirements protects the

organization from potential penalties.




2

, How can total rewards support organizational culture?


✔✔ By aligning rewards with company values and promoting behaviors that reinforce the

desired culture.




What role do career development opportunities play in total rewards?


✔✔ They enhance employee engagement by providing paths for growth and advancement within

the organization.




How can HR evaluate the effectiveness of a total rewards program?


✔✔ By collecting employee feedback and analyzing turnover rates and engagement scores.




What is the significance of offering health and wellness benefits?


✔✔ They contribute to employees' overall well-being, leading to increased productivity and

reduced absenteeism.




How can flexible work arrangements be considered part of total rewards?


✔✔ They provide employees with options that enhance work-life balance, making the total

rewards package more appealing.




3

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