Question

An exit interview assessment finds that the primary reason employees leave is for better total rewards offered at other organizations. Which is the best action HR should take to gather information on competitive total rewards packages to potentially offer its employees?

Conduct a focus group session for management input on the effectiveness of total rewards.
Participate in an external remuneration survey to assess the competitiveness of the organization's current offerings.
Send an internally developed survey to local competitors asking what total rewards they offer.
Survey employees to identify what total rewards the company should offer to them.

Answer 1

The best action HR should take is to participate in an external remuneration survey to assess the competitiveness of the organization's total rewards packages.

Step-by-step explanation:

The best action HR should take to gather information on competitive total rewards packages to potentially offer its employees is to participate in an external remuneration survey to assess the competitiveness of the organization's current offerings.

This method allows HR to gather data on the total rewards being offered by other organizations in the industry, which can help them determine if their current offerings are competitive and what changes may be needed. By participating in an established external survey, HR can also obtain reliable and benchmarked data.

By utilizing this method, HR can make informed decisions and possibly make adjustments to their total rewards packages to attract and retain employees.