Revising Emerging Pharmaceuticals' Total Rewards Program, Thesis of Accounting

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Milestone Three: Revisions Southern New Hampshire University OL-620: Total Rewards Jessicah

Emerging Pharmaceuticals employees are concerned with their ability to move up within the company, if the company requires degrees for managerial positions – but the reimbursement is not sufficient enough. EP currently only offers the yearly benefit as one-hundred percent up to two thousand dollars for an undergraduate degree or up to three thousand for a graduate degree. Emerging Pharmaceuticals needs to heavily reconsider their tuition reimbursement program. Only a few aspects of the program should remain the same; such as the eligibility guidelines. A minimum of one year of service is required, must result in an undergraduate or graduate degree, and it must be from an accredited university. One year of service is a reasonable amount of time for the employee to consider what their future could be with the company, and what direction they could take their education in. Emerging Pharmaceuticals should have more specific guidelines for the coursework that would be reimbursed. The coursework should absolutely develop the skillset of the employee in relation to their position at EP, or prepare for a future role within the company. It is essential that the coursework is related to Emerging Pharmaceuticals business needs – in order to make full use of the refund and their employees’ success. Emerging Pharmaceuticals could benefit greatly from adjusting their current remote work option. Currently, only scientists and analysts are offered a remote work option. These should not be the only positions with remote work – various other positions should also be able to work remotely. Not all employees that work remotely need to full time, hybrid work could always be an option. The weekly unit meeting could be held in person, versus online. Employees that work remotely are more likely to experience job satisfaction, and willing to work on weekends if necessary. The weekend should also be excluded from the 8:00 a.m. start time – if a time needs to be set for the weekends, push it back until at least 10:00 am.

Sources Curcio, A & Woods, A. (2021, July 27). Rethinking total reward strategies. Retrieved January 13, 2023 from https://www.strategy-business.com/article/Rethinking-total-reward- strategies Emerging Pharmaceuticals and Medtronic Comparison. Retrieved November 25, 2022 from https://learn.snhu.edu/content/enforced/1202714-OL-620-X2212-OL-TRAD- GR.22TW2/Course%20Documents/OL%20620%20Emerging%20Pharmaceuticals%20C ase%20Study.pdf