Sales Force Compensation at Allstate

Sales Force Compensation at Allstate

Greer D. Avery

Strayer University

TOTAL REWARDS—HRM 533

Prof. Dr. Valencia Weststray-Miller

July 28, 2013

Abstract

This paper will discuss six (6) features of an effective total rewards program that are engaged in the Allstate Insurance organization and some of the advantages of the total rewards approach. The approach of Allstate in analyzing it’s strategy, workforce, operating environment, and most of all the key stakeholders that identify critical factors in designing a total rewards strategy.

Sales Force Compensation at Allstate

1. In order to motivate the sales force to produce the highest number of clients, describe six (6) features of an effective total rewards program.

According to (John Wiley & Sons, 2007), there are six (6) processes that are involved in establishing or identifying a total rewards program which include: (1) Analyze and assess, (2) Design, (3) Develop, (4) Implement, (5) Communicate and, (6) Evaluate and revise. To have a total rewards program in place will allow any organization the opportunity to address the business needs in order to manage cost and growth within the organization. As businesses have operated throughout the decades, many organizations have realized that there is compelling evidence that supports one of the best ways to attract , retain, and engage employees has led to the belief that there needs to be a focus on total rewards and not just benefits and pay.

There are five (5) top advantages of a total rewards approach as indicated by (Wiley, et al. 2007), which include: (1) Increased flexibility, (2) Improved recruitment and retention, (3) Reduced labor costs/cost of turnover, (4) Heightened visibility in a tight labor market and, (5) Enhanced profitability.

The strategy for having a total rewards approach in any organization is greater than ever in today’s work environment which is fundamentally supported by...