A Total Profit Program

Literature Review The support reward elements in the work environment is a term used to explain total rewards (Stanz, Bussin, & Smit, 2015). A total rewards strategy is important to employers because it can improve human resources results. A total reward benefit program can retain and maintain employees at a company. These rewards can help an employee stay motivated with organizations objectives regarded. On the other hand, employees are more liable to stay at a company that is an asset to this generation. The lack of rewards will create an unpleasant environment, thus diminishing employees’ work efforts and may cause them to withdraw from their jobs (Bustamama, Tenga, & Abdullah, 2014). A total rewards benefit program strategically

Therefore, an employer can offer a traditionalist an intrinsic rewards program. Dependability and loyalty is a characteristic that a traditionalists displays with an organization or company. An intrinsic rewards program would be compatible with this generations needs in the workforce. Traditionalist appreciates meaningful work and see himself or herself as an asset to the organization. Outgrowth of achievement, verbal recognition, challenging work, and advancement of non-financial incentives can lead to job satisfaction (French & Emerson, 2015). Recognizing an employee verbally can offer intrinsic motivation of being valued in an organization. A total rewards program can be implemented by organizations to include awards, plaques, and prizes both monetary and nonmonetary. This generation also likes feedback on work performance and

Human resource management can offer an effective retirement plan with a defined 401(k) or similar package. This generation is important because a key talent will be loss if an employer fail to retain these workers. According to SHRM, 4,143 full-time and part-time workers were surveyed in February and March 2014; show a total household retirement savings of $127,000 (estimated median, up from $75,000 in 2007 but not enough to meet retirement needs of Baby Boomers (Miller, 2014). An organization can implement thrift savings plans, IRAs, and tax deferred savings plans to retain the necessary talent they need from this generation. Observers often describe the loss of Boomers with terms such as “crisis,” “devastating,” “tsunami” and “approaching storm (Paullin, 2014).” This is because of the great work ethic that this generation has committed to organizations. It would be challenging to replace these workers when searching for talent. Human Resource management would have to be open-minded when to the Baby Boomers benefit needs in order to retain