Total reward Coursework Example | Topics and Well Written Essays - 2000 words

Total reward - Coursework ExampleTotal rewards include all the things which employees perceive as valuable for building strong relationship with the company. With the change of origin environment the concept of total rewards is unceasingly changing and becoming more advanced. TR is composed of five elements. They are benefits, compensation, performance and recognition, work-life, development, career opportunities etc. With the support of all of these elements an organization satisfies its employees. This report deals with Mitchell brim. Various issues of the bank are discussed in this report. For motivating and retaining the employees, the bank place use Armstrong and Brown model of total rewards. This model will help the bank to improve its business condition and increase its profitability. Mitchell Bank was established in 1895 in UK. The bank operates its business functions with the help of unlike divisions. The organization has large number of employees. Presently with the in crease of competition in banking sector, Mitchell Bank is facing about serious problems which are discussed in this report. Therefore for making Mitchell Banks business activities effective and to aim its position in competitive market the company needs to improve many things.The similar organizations of Mitchell Bank are Royal bank of Scotland (RBS) and Ernst and Young (E&Y). Both of these companies are involved in performing near same types of business activities. These companies are very much concerned about their employees. They try to satisfy their employees by various ways. Total rewards of RBS and E&Y are slightly different from each other. The elements of their total rewards in these companies are very strong and effective which help them in motivating, retaining and attracting employees (Kaplan, 2007). As a result these companies are able to delivery good performance with its satisfied workers. This is one of the important factors which help these companies to increase