Total Rewards Audit Project Guide

TL;DR

Complete a total rewards audit for an organization using the World at Work model to assess and improve their rewards package.

Transcript

your comprehensive final project for this course requires you to complete a total rewards audit for an organization of your choice your total rewards audit uses the world at work total rewards model to assess analyze and improve an organization's total rewards package your audit gives you the opportunity to understand the real-life application of t... Read More

Key Insights

• 🥰 Conduct interviews with HR professionals to understand the organization's compensation philosophy.
• ❓ Complete a total rewards inventory to identify all reward elements and eligible recipients.
• ❓ Analyze the total rewards inventory to draw insights and recommendations for improvement.
• ❓ Prepare a comprehensive audit report detailing findings and recommendations.
• 🤩 Create a professional presentation highlighting key findings and recommendations.
• ❓ Apply the World at Work total rewards model for a structured audit process.
• ✋ Ensure independence and high application of learning in conducting the total rewards audit.

Questions & Answers

Q: How do you start a total rewards audit?

To start a total rewards audit, interview HR or compensation professionals to understand the organization's compensation philosophy and its alignment with the overall strategy.

Q: What is included in a total rewards inventory?

A total rewards inventory entails identifying all elements of the organization's rewards package and specifying who is eligible for each element.

Q: Why is a total rewards analysis important?

A total rewards analysis helps identify gaps in the organization's rewards package and provides recommendations for improvement based on the assessment.

Q: What is the purpose of conducting a total rewards audit?

The purpose of conducting a total rewards audit is to assess, analyze, and enhance an organization's rewards package to ensure alignment with its strategic objectives.

Summary & Key Takeaways

• Conduct a total rewards audit using the World at Work model.

• Interview HR professionals for the organization’s compensation philosophy.

• Analyze total rewards inventory and present findings in a report and presentation.