Comprehensive Reward System and How to Achieve it

Total Reward system
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Total Reward system
The standards for the 10,000-person berry sweet company's comprehensive rewards program will fall into five categories: remuneration, recognition, perks, work-life balance, and growth. My consulting firm will be sure to draw top talent and keep high achievers by providing a whole incentives package that falls into these five areas (Beqiri & Aziri, 2022). The first criterion is the remuneration package, which will provide sales personnel with a base wage and maybe some incentive pay. Recognition will be the second criterion in the entire rewards system. This is a crucial prerequisite since motivated people work more effectively. The business will develop top achievers in this way. By including appreciation as a necessity, the firm expresses how grateful it is for the hard effort its workers have put into accomplishing corporate objectives. The online benefits package will include paid time off, paid sick time, long and short-term disability, as well as the legally required social security, Medicare, and unemployment benefits. Depending on whether an immediate family member has died, a potential bereavement leave could be added. To avoid employee burnout, the next necessity will be a proper work/life balance.
To achieve the reward strategy customer experience is important and it's defined as the interaction between customers and company owners that fosters customer loyalty and satisfaction throughout the customer journey. There are several ways for a company to provide the greatest client experience: establishing a distinct vision for the consumer experience. This is the first stage in defining what is needed and the goals of the company that will result in happy and devoted consumers. One self-explanatory sentence that encompasses everything can do this. Understanding the client may be greatly improved by getting to know them as a business customer. This is due to the varying expectations that customers have. As a result, there is a need to interact with customers in a variety of ways, including through social media.
Moreover, product discrimination may arise more frequently than customers' demographics, psychographics, or views change. For instance, the 18-to-34 age range, which is frequently utilized in consumer marketing, lasts 17 years. By the age of 30, education levels are often established. Although it may change more often, a person's income is typically consistent for years (Mayr & Munday, 2021). The difference between a man taking a date to the movies one night and ordering pizza to watch a Netflix DVD the next cannot be explained by demographic statistics. In addition, From the perspective of the consumer, the market is not segmented by product and customer characteristics, which is why it frequently looks difficult to explain if a customer within a certain demographic group will pu...