Progressive Insurance: Effective Total Rewards

Effective Total Rewards Program Progressive Insurance is among the top organizations with a large salesforce and with top sales range from $3.2 billion. Progressive Insurance compensation plan consist of Career Development, Health, Money, Work/Life Balance (www. Progressive.com, 2014). Career development offer training, training and development and tuition assistance; Health consists of medical benefits, dental, vision, they offer fitness centers with equipment and services, classes, studio training and health incentives; Money rewards are base pay, bonus and 401k; Work/Life Balance consists of time-off which is 17 days given the 1st year of employment, family assistance consisting of adoption assistance, childcare subsidy, maternity
Many human resource and business leaders once believed that pay was the whole story with respect to attracting talent, motivating high performance, reducing turnover and a host of other human resource challenges. Turns out, it’s just part of the story. Other reward program elements can be just as important, if not more important, to employees. (p.8) Benefits as part of the total rewards program includes health benefits which includes medical insurance and other benefits such as social security and retirement. Compensation and Benefits are just two parts of an organization total rewards
Salespeople coming from a small organization that was unable to offer as many total rewards to their sales staff with jump at the ideal to work for a larger organization, with great total rewards. Salespeople knowing that they have the chance to develop their career with on-site and off-site training at the organization expense will be attracted to working for the organization. Knowing they could work for a company that support their family life outside of providing them with a paycheck is another great feature of working for a larger organization. The total rewards also focus on the employee health and education development. They have the chance to pursue a degree that will help to promote them within the company and have the chance to do other things within the company besides sales. Future employees with children receive help with childcare as well as been able to adoption with the assistance of the organization. There is the chance to attract great salespeople from other larger organization with good total rewards program, but could be missing one element that the competitor total rewards program has to offer. Total rewards program for some employees and employers is the difference of getting great employees and just good employees. Some people are looking for total rewards programs that fit into their current situation and some are