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BUSI 642-Enhancing Organizational Values and Goals through Total Rewards: A Case Study of Aflac

BUSI 642-Enhancing Organizational Values and Goals through Total Rewards: A Case Study of Aflac

ANSWER

Introduction: Aflac’s Case Study on Improving Organizational Values and Goals through Total Rewards.
In this article, we look at how Aflac uses their entire rewards strategy to connect with company values and achieve strategic objectives.

Company Overview and Use of Products/Services as Compensation
Aflac, well-known for its supplemental insurance plans, uses its own products to boost employee remuneration. Employees are offered comprehensive health and life insurance plans, demonstrating faith in the products’ benefits. This links employee interests with organizational performance while also strengthening the company’s commitment to its services.

Internal and external strengths and weaknesses.
Strengths:

Strong Brand Identity: Aflac’s brand reputation helps to attract top personnel.
Diverse Product Portfolio: Provides flexibility in constructing various pay packages.
Weaknesses:

Highly competitive market necessitates ongoing adaption to maintain talent.
Cost management challenges include balancing premium benefits with cost efficiency.
Response from a whole rewards perspective
Aflac replied by:

Innovative Benefits: Introducing non-traditional benefits like as wellness programs and flexible working arrangements.
Competitive compensation involves aligning pay with industry standards while stressing performance-based incentives.
Traditional and non-traditional rewards.
Traditional rewards include competitive salaries, bonuses, and retirement plans.
Non-traditional rewards include employee stock options, professional development opportunities, and recognition programs.
Alignment With Corporate Values
Aflac’s pay benefits are consistent with its ideals of integrity, innovation, and community support. For example, leadership recognition programs praise ethical behavior, encouraging it.

Recommendations for Benefits Program Expansion.
To better align HR with organizational goals and values, Aflac might consider:

Enhanced Wellness Programs: Promoting overall employee well-being.
Expanded Educational Benefits: Encouraging continued professional development.
Community engagement initiatives promote volunteerism and generosity.
Conclusion
Aflac’s strategic use of total rewards not only helps to achieve organizational goals, but it also reinforces the company’s commitment to its employees’ financial stability and wellbeing. Aflac can remain competitive and true to its company ideals by constantly analyzing and enhancing its benefits offers.

QUESTION

BUSI 642

Written Case Study Assignment Instructions

Overview

Employee compensation is one of the largest expenses a company has. It is important that compensation is well-designed and effective. Here you will read about how two different companies connect their total rewards to their organization values and goals. One of the companies will be selected for your paper.

Instructions

The Written Case Study Assignment must be at least 750 words (not including the title and reference pages), double-spaced, and in current APA format. Please note that the stated word count is a minimum. Therefore, you are encouraged to ensure that you have thoroughly researched and responded to each question/prompt provided below. Each assignment must include a title page and a references page. Use at least 4 scholarly sources (published within the last 5 years), the course textbook, and biblical integration.

 

*Note: The case study to be utilized for this assignment is the SHRM case on Aflac and LLBean.

 

This case study is focused on how 2 different companies use total rewards to support the organization’s missions and values and achieve strategic outcomes. Select only 1 of the companies as the basis for your case study response. (This is not meant to be a comparison of the companies, but an exploration of how 2 different companies use their compensation and benefits structures to achieve organizational outcomes). The paper must specifically address the following areas:

 

· How the company uses its own products or services to enhance the total compensation for its employees;

· The internal and external strengths and weaknesses identified and how the company responded to these factors from a total rewards perspective;

· Examples of traditional and non-traditional rewards and how they are used to meet organizational objectives;

· How the company aligns its compensation benefits with its corporate values; and

· Recommendations regarding an expansion of the benefits programs offered at the company that would further align HR with the accomplishment of organizational goals and values.

 

Note: Your assignment will be checked for originality via the Turnitin plagiarism tool.

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