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Strategic Communication in Total Rewards (T4.GR9) Module 3 quiz & answers.
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Strategic Communication in TotalRewards (T4.GR9) Module 3 quiz &
answers.
Compensation what to Communicate ANS -Depending on the organization total rewards compensation
philosophy, the company may choose to develop communication campaigns for the following
1-Compensation philosophy and strategy
-Pay for performance
-Risk/reward relationship
-competitive pay position, pay mix
2-Base pay examples
-Pay strategy-median,75th percentile
-salary administration program, grades and bands
-Merit policy and timing of influence
3-Variable pay examples
-Eligible ,who? ,when?
-objectives, Link to business strategy, payout terms
-Targets, progress, expected payout
-How the program works
-Vesting, risk and tax implication for equity plans
4-Legally required communication: other information legally required to be communicated to
employees or otherwise communicated publicly
Compensation Communicate considerations ANS -1-Compensation is an emotional issue:
-For employees, their sense of self-worth and personal esteem maybe be attached to pay, including
merit increase and incentive payments.
-Managers and supervisors needs to make business decision that affect the working lives of their
employees - pay levels being one of the most important
,2-Value of compensation - the value of compensation may be affected by:
-Employees perception of their self worth
-Employee perception and expectations of the pay and performance management system
-Comfort in knowing values are correctly assigned
-pay based on the value of the job, not the individual
-Knowledge or perception of pay in the competitive job market
-How pay changes are communicated
3-Often deliverd by line mamagers:Compensation plan are typically adminstred loacally
Generally created locally based in local law, geography or business unit.
4-Open vs Colsed communications approch: corporate culture and HR philosoph/Strategy vary greatrley
between organization depandeing on an individual organzations culture and communication philosphy,
the following should be determined regrading employee communication
-Is knowledge about pay systems open VS closed
_will salary grades and ranges be made avalible to emplyees?if so?how?
-Will merit reanges and perfromance standards be puplished?
-Typically, when limited or no information is provided, employees will attempt to find data to fill this
void ot make thier own assumptions about pay, such employee-generated data may be inaccurate or
incomplete
Benefits what to Communicate ANS -Within the six key areas of total rewards, the benefits area is
probably one of the most heavily communicated, Effective benefits communications are necessary to
meet legal requirements, but just as importantly to keep employees informed about what their benefits
are, how to use them, what they cost and what their roles is in the process, the communication vehicles
describe earlier can be used to creativity communicate benefits that act as deriver for the successful
results organizations hope to achieve
1-Benefits philosophy and strategy
-Typically, a total rewards philosophy or strategy explains the overarching goals of the programs an
employer offers, if you have a total rewards philosophy, or a distinct benefits philosophy, it is
recommended you communicate that to the employees so they understand the organizations goals in
providing the programs
-For examples, is the employer philosophy paternalistic of is there more shared accountability between
employer and employee? is the philosophy one of informed consumerism? is is supporting the financial
and health well being of employee and their families this well determine the message that the employer
, wants to convey above and beyond simply communication plan types.(Seniority driven, family centered,
employee centered)
-What is the benefits strategy? the strategy should drive not only what information is communicated,
but the message and the desired end result of the strategy (choice)
2-Programs/package
-Benefits programs include retirements programs and health and welfare programs.
-Benefits communication contacts technical messaging as well as messaging went to persuade
behavioral change that ultimately supports the strategy, technical messaging might include(Available
options, cost, number and types of funds available in retirements plans)
3-Plan changes: If plans ch
Benefits Communicate considerations ANS -A-There are three type of events-centered communication
1-Employment-centered communication occurs following an event related to an individuals
employment:
-time of hire-immediately eligibility, waiting periods
-Subsequent eligibility for plan participation - plan features and costs, required actions
-Pay raise - impact on benefits levels, impact on employee contributions
-promotion - expanded eligibility
2-Needs centered communication occurs at the time of individual need,
-Illness/disability-medical/hospital benefits, short term disability, long term disability
-retirements - pension plan, social security, retiree health
-death - life insurance, AD&D, beneficiary pensions benefits
-Other termination of employment -vesting statues, conversion rights
3-Annual enrollment: offer employees the chance to re-enroll or change their benefits plans. proceeding
and during this period there are many opportunities for employers to effectively use various
communication channel to get the messages across:
-Face to face-benefits and wellness fairs
*Display all the benefits that employees and their dependents can renew on an annual basis
*Invite vendors in to showcase their benefits and wellness promotions
*Offer meetings to given an overview of benefits changes
-Paper based
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