Question.4537 - Project Two Guidelines and RubricCompetencyIn this project, you will demonstrate your mastery of the following competency:Explain the purpose and use of total rewardsScenarioYou are a human resources professional who works for a start-up company. As is typical for a start-up, the company needs to offset the costs of starting a new business with lower compensation. They intend to do this by designing a new total rewards package. Total rewards packages can be used to attract and retain talent by offering them desirable benefits in addition to their salary. Your manager has asked for your input on what to include in the new package. Senior management is concerned that the current total rewards package is not attractive enough to a distributed workforce. Your manager has tasked you with creating a proposal summary that will contain your recommendations for a new total rewards program. You will include a brief overview of a total rewards package and its purpose, as well as why it adds value to the company. Your manager will use these recommendations in their presentation to senior management.DirectionsCreate a proposal summary that will contain your recommendations for a total rewards program. Use the Project Two Template, provided in the What to Submit section, for your proposal summary. You will include four suggested total rewards components for the new program in the Talent Retention section of your document. Each component should contain the title of the item, describe what it is, and explain why this component would be attractive to current and prospective employees. You should summarize your proposal with an explanation of the employee value proposition (EVA) and how it relates to total rewards.Specifically, you must address the following rubric criteria:Total Rewards: Define the concept of total rewards and its purpose.Explain why a company would use a total rewards package.Discuss how total rewards is important for employee retention.Discuss why total rewards packages are valuable to an employer.Total Rewards Package: Explain the components of a total rewards package.Describe the different parts of a total rewards package and what value they bring to the company.Differentiate between monetary and non-monetary rewards.Talent Retention: Explain how total rewards components are used to attract and retain talent.Give four examples of suggested total rewards components and why they might be attractive to an employee.Consider how additional incentives might affect talent retention.Employee Value Proposition: Explain the concept of EVP and its relation to total rewards.What to SubmitTo complete this project, you must submit the following:Total Rewards ProposalSubmit this assignment as a Word document, 2 to 3 pages in length. Use double spacing, 12-point Times New Roman font, and one-inch margins. Consult the Shapiro Library APA Style Guide for more information on citations; you can access Shapiro Library resources through the Academic Support area of the course. Sources should be cited according to APA style.The following resource supports your work on the project:Template: Project Two TemplateUse this template to create your document.Project Two RubricCriteriaExemplary (100%)Proficient (85%)Needs Improvement (55%)Not Evident (0%)ValueTotal RewardsExceeds proficiency in an exceptionally clear, insightful, sophisticated, or creative mannerDefines the concept of total rewards and its purposeShows progress toward proficiency, but with errors or omissions; areas for improvement may include missing critical elements such as an adequate description of total rewards or the purposeDoes not attempt criterion15Total Rewards PackageExceeds proficiency in an exceptionally clear, insightful, sophisticated, or creative mannerExplains the components of a total rewards packageShows progress toward proficiency, but with errors or omissions; areas for improvement may include missing critical elements such as the difference between monetary and non-monetary rewardsDoes not attempt criterion25Talent RetentionExceeds proficiency in an exceptionally clear, insightful, sophisticated, or creative mannerExplains how total rewards components are used to attract and retain talentShows progress toward proficiency, but with errors or omissions; areas for improvement may include cursory explanations of total rewards components or three or fewer examplesDoes not attempt criterion25Employee Value PropositionExceeds proficiency in an exceptionally clear, insightful, sophisticated, or creative mannerExplains the concept of EVP and its relation to total rewardsShows progress toward proficiency, but with errors or omissions; areas for improvement may include missing critical elements such as an explanation of why EVA is related to total rewardsDoes not attempt criterion15Articulation of ResponseExceeds proficiency in an exceptionally clear, insightful, sophisticated, or creative mannerClearly conveys meaning with correct grammar, sentence structure, and spelling, demonstrating an understanding of audience and purposeShows progress toward proficiency, but with errors in grammar, sentence structure, and spelling, negatively impacting readabilitySubmission has critical errors in grammar, sentence structure, and spelling, preventing understanding of ideas10Citations and AttributionsUses citations for ideas requiring attribution, with few or no minor errorsUses citations for ideas requiring attribution, with consistent minor errorsUses citations for ideas requiring attribution, with major errorsDoes not use citations for ideas requiring attribution10Total:100%

Answer Below: