- OTHM Level 5: J/650/1143 Research Methods in Health and Social Care
- Feasibility Study for Night Moves: Event Logistics at Finsbury Park, Assignment 2
- EU Law: Dominant Undertakings & EU Four Freedoms – Legal Implications and Market Impact
- BTEC Level 3 Unit 19 Analogue Electronic Devices and Circuits, Assignment 2
- OTHM Level 5 Unit 2 T/650/1139 Managing the Safeguarding and Protection of Vulnerable Individuals
- Legal Analysis of Negligence Claim Against SamsTech for AI Chatbot Errors
- FINA 1007 Research Methods: Assessment Guide & FAQs
- Mathematical Methods in Physics Assignment Question
- Unit 5048 J/650/2990 Sensors and Automation BTEC Level 5
- Transport for London (TfL) Cycle Data Analysis Project – Programming & Data Science
- Sport Coaching Portfolio: Safe, Ethical, and Effective Practices – Assessment 2
- K/507/1406 HSC CM1 Unit 1 Equality, diversity and rights in health and social care, NCFE CACHE Level 3
- MS420/MS508 Advancing Sustainable Development Goals (SDGs) through Business Practices
- C1808 Unit 500 Understanding Leadership and Management in Adult Care – Theories, Styles & Best Practices
- Level 5 Leadership and Management in Adult Care Unit 17, Unit 18 & Unit 16
- Donald Trump’s Statement on South Africa: Economic and Health Impacts
- Level 3 Certificate in Assessing Vocational Achievement (CAVA)
- H/615/1488 Unit 4014: Production Engineering for Manufacture, BTEC Level 4
- CIPD Level 7CO02 People Management: Strategy, Engagement & Technology
- Unit 6: HND Construction Management – Architectural Design and CAD Standards
5HR03: focuses on how internal and external business factors influence reward strategies and policies, the financial drivers of the organisation: Reward for performance and contribution, CIPD level 7, UK
Subject | 5HR03 - Reward for Performance and Contribution. |
Scenario
Eco-Insulate UK is a medium sized private sector organisation that manufactures eco-friendly thermal insulation in the UK. The Managing Director (MD), who started the company in the mid1970s has set up a meeting with you to discuss concerns regarding increased turnover of skilled and non-skilled employees.
During the meeting you are made aware that there is no incentive scheme in operation and there is an expected level of performance broadly related to the notion of measured day work. Standard times exist and are maintained by the Finance and Administration Department.
cMost employees receive 28 days paid holidays per year. All employees are included in the noncontributory pension scheme however, it’s generally known that special schemes operate for senior staff only.
The MD is aware that the overall culture and performance of the company is quite negative and that it’s time to look at offering forms of reward incentives, benefits and recognition to stimulate positive change.
In your capacity as a reward specialist practitioner, he asks you to put together a report for the senior management team that will give them knowledge and understanding of the principles and components of reward and pay, including how these might influence organisational, psychological and cultural factors. In addition, he would also like them to gain an understanding of job evaluation and market rates.
Do You Need Assignment of This Question
Report
To complete the report, you should include written responses to each of the 10 points below, making appropriate use of academic literature, legislation, surveys, data intelligence, research and good practical examples to substantiate your response and illustrate key points. Please ensure that you use reputable sources as indicated on the unit reading list and that all cited sources are correctly acknowledged and presented in full in a bibliography at the end of your report.
With reference to the above scenario:
1) Explain the principles of reward and its importance to organisational culture and performance management. (AC 1.1)
2) Assess the contribution of extrinsic and intrinsic rewards to improving employee contribution and sustained organisational performance. (AC 1.2)
3) Explain the differences between types of grade and pay structures. (AC 2.1)
4) Explain how contingent rewards can impact individual, team and organisational performance. (AC 2.2)
5) Explain the merits of different types of benefits offered by organisations (AC 2.3)
6) Explain the merits of different types of recognition schemes offered by organisations. (AC 2.4)
7) Assess the business context of the reward environment. (AC 3.1)
) Evaluate the most appropriate ways in which benchmarking data can be gathered and measured to develop insight. (AC 3.2)
9) Explain approaches to job evaluation. (AC 3.3)
10)Explain the legislative requirements that impact reward practice. (AC 3.4)
Buy Answer of This Assessment & Raise Your Grades
Assessment Criteria
1.1 Explain the principles of reward and its importance to organisational culture and performance management.
1.2 Assess the contribution of extrinsic and intrinsic rewards to improving employee contribution and sustained organisational performance.
2.1 Explain differences between types of grade and pay structures.
2.2 Explain how contingent rewards can impact individual, team and organisational performance.
2.3 Explain the merits of different types of benefits offered by organisations.
2.4 Explain the merits of different types of recognition schemes offered by organisations.
3.1 Assess the business context of the reward environment.
3.2 Evaluate the most appropriate ways in which benchmarking data can be gathered and measured to develop insight.
3.3 Explain approaches to job evaluation.
3.4 Explain the legislative requirements that impact reward practice
Are You Looking for Answer of This Assignment or Essay
Are you a UK student needing support with your 5HR03 Reward for Performance and Contribution assignment? We offer exceptional assignment help UK to guide you through your studies. Our team specializes in providing help with CIPD assignments, making complex topics easier to understand. Plus, our expert report writing services ensure your work is polished and professional. Don’t hesitate—get in touch with us today and take the stress out of your academic journey!
