Discuss the below:
TEXT: Milkovich, G. T., Newman, J. M., Gerhart, B., & Martocchio, J. J. (2011). Compensation and benefits(custom text). New York, NY: McGraw-Hill Irwin.
Societal Implications of Total Rewards
Compensation and benefits not only impact employees, but also the organization's surrounding community. A strong organization with well-trained, well-compensated workers will also strengthen the local businesses around it. Organizations cited as "employers of choice" have adopted corporate social responsibility (CSR) programs that positively impact the communities in which they operate.
To further explore the importance employees place on programs such as CSR, as well as the ways in which organizations can contribute to the communities in which they operate, review the following Learning Resources:
· "Currents in Compensation and Benefits." Specifically, focus on the section ‘Labor Market Trends.'
· "Sustaining Inner and Outer Worlds: A Whole-Systems Approach to Developing Sustainable Business Practices in Management." Examine how an organization's total rewards practices can contribute to a sustainable business.
Cohesive and scholarly response based on your readings and research this week that addresses the following:
· Assess the importance of corporate social responsibility.
o Do CSR programs have an influence on an employee's decision to accept a job offer from an organization?
If you were an employee considering a position at a local organization, would a successful CSR program or the ways in which the organization benefits the community have any impact on your employment decision? Why might this be important, or not?
Is there an inherent disconnect between employee beliefs on corporate responsibility and actual organizational behavior?
o Should organizations give back to their respective communities?
If you were an HR professional in a medium- to large-sized organization, would you initiate CSR programs and employee opportunities to volunteer within the organization?
· Would your perspective change if you were an HR professional in a small organization?
Analyze societal implications of compensation and benefits.
o Do CSR programs and benefitting the community help or hinder an organization's sustainable competitive advantage, and how?
o Does an organization's employee reward program ultimately have the power to influence the well-being and wealth of their communities?
o What are several societal implications of compensation and benefits?