Case Study – Geico Go to the Geico website https://careers.geico.com/us/en/total-rewards-program to read "Total Rewards Program." Write a six page paper in which you: Determine which facets of the...

Running head: GEICO TOTAL REWARDS        1
GIECO TOTAL REWARDS         8
GEICO TOTAL REWARDS
Table of Contents
Response to Questions    3
References    9
    
Response to Questions
Q1.
The facets of the GEICO total rewards that aligns with the top five advantages of the total reward programs outlined include health and well-being option, education and training, finance and retirement as well as the associate assistance program along with paid vacation, holidays, and leaves. These facets of the Geico are in coordination with the total rewards programs as they somehow or the other will lead to the achievement of this efficiency and benefits. The health and well-being option provided by Geico include several benefits the company is offering including the insurance option, paid sick leaves and disability as well as the life and accident insurance, it will help in reducing the labor costs as the employees are very much concerned about their health concerns and they certainly tend to switch the companies who did not prominently focus on the health and well-being of its employees.
The education and training options included by the company in their total reward program would improve their recruitment and retention as in the present times the employees are not only willing to look after the monetary benefits and the rewards rather they are looking for the possible option where they would get the further assistance to excel in their career along with the works.
By including the finance and retirement plan in their total reward program the company would fulfill the advantage of heightened visibility in a tight labor market. Considering the present market scenario seeking the demographic shifts and increasing global competition the companies are requiring loyalty from their employees and vice versa the employees also expect from the organization. By adding the options like finance and retirement the organization would be making their employees aware of the fact that the company is thinking thoroughly about the employee present as well as their future.
Through the associate assistance program and paid vacation, holidays and leaves the organization is ensuring the increased flexibility and profitability, through these options the employees can channelize their work more flexibly as the company would not be adopting the same approach for all which helps the employees in adapting the situation vigorously. The paid leaves and holidays motivate the employees to work with full zeal and enthusiasm. The total rewards of GEICO match these top advantages of the total reward approach somehow and tend to foster a good employer and employee relationship (Cha & Jo, 2017).
Q2.
Sometimes making a plan is not sufficient an organization must ensure a proper strategy for the fulfillment of those plans. To ensure all the advantages of the total rewards approach GEICO must look up to these following steps-
Assessment
The company must assign a project team who would be assessing the current benefits and the compensation system along with determining the effectiveness of those systems in helping...