Elements of Success in Lloyds TSBs Total Rewards Programme Assignment

Elements of Success in Lloyds TSBs number retaliates Programme - Assignment physical exerciseOnline banking at Lloyds TSB offers a multitude of opportunities for customers, giving a more streamlined and much faster method of banking, which in turn facilitates an employees ability to do his or her job. In the process of expansion, the company has combined with Xbridge, the UKs leading online business finance analyst to develop Lloyds TSB Commercial Finance, the biggest brand for commercial finance in the online medium.The more or less recent programme introduced within the company to improve business pr make a motionices is called Total Reward, and its basic principles call for more than a financial package as an employee incentive. It calls for non-financial rewards much(prenominal) as the opportunity to develop skills and have input into the work schedule.What are the elements that make up Total Reward and how do they apply to Lloyds TSB Total Reward is defined as a programme t hat brings learning and development together with aspects of the working environment into the benefit package (CIPD, 2005). The concept is that when employees are included in organisational decisions, they will feel more connected and more responsible for improving the working environment. ... 2. Non-financial rewards, including recognition, opportunities to develop skills, upper-level opportunities and increased quality of work day.In Total Reward it is necessary to align HR and business needs with employee needs, acknowledging tangible and intangible rewards within the wider context of work experience. It is a new program, not full embraced in the marketplace (CIPD, 2005). The concept is that when employees are included in organisational decisions, they will feel more connected and more responsible for improving the working environment. Because relatively few companies in the UK are successfully operating flexible benefits plans, t present is no off-the-shelf package that compani es can begin using immediately. The question here is the style in which Lloyds TSB is utilizing Total Rewards. What obstacles, if any, are they facing as they build a new programme for their companyManagement as a balancing Act In todays employment market, a broader view of how to acquire and retain the best employees is no longer a matter of simply offering a competitive salary and benefits. A business that keeps up with current needs and new procedures has an advantage. Management has to know how to implement the employee pool in a way that creates harmony throughout the company (Hay Group, 2005). In addition, the public must feel that their interests are being addressed in the best possible way. This balancing act is difficult to achieve, but if the company is willing to learn from past mistakes and meet new challenges as they arise, a workable system can be achieved. Has Lloyds TSB intrust plc evolved in a way that will keep their organisation in a growth mode, keeping up wit h changes as they occur The ongoing cut into is where to draw the line between personal