The main aim of the unit Reward Management 7RWM is to provide the learning principles among the students about the reward management module the human resource professionals must have to acquire the way through which they can generate the work environment for a reward that aligns with the goals of the organisation. This unit is designed for the experts of the Human Resource Department who are responsible for the Strategies and policies development which is significant for the organisation`s employees.
Thus, the learners who are studying this unit are supposed to increase potent industrial recognition and friends of the market which are impacting the decision-making on the issue of employee reward. At the time of study, in this unit, the students will also acquire about the multiple topics that are significant in understanding our development in the module of reward management.
In terms of reward management, there are multiple styles of tools utilised such as PESTLE and SWOT which assist in analysing the external and internal factors which influence the compensation policy of the organisation. These tools` analysis of the industry and market in which the organisation can operate is utilised for the identification of external factors. To enhance the good decision-making about the rewards students should acquire the way through which they can make connection with identification factors to the reasonable cases in the organisation. Another significant area of the unit Reward Management 7RWM is reward intelligence which defines the information obtained on the matters related to the reward by HR professionals. The student should also acquire the way through which they can do surveys, advertisement market intelligence of the other businesses which are the significant procedure to collect the reward intelligence. These are also counted as the reward intelligence drivers that will assist the professionals in making informative decisions regarding compensation, pay and employee benefits.
The significant objects of the unit Reward Management 7RWM are provided underneath
The learning outcomes of the unit Reward Management 7RWM are designed so that the learned can acquire great strategies regarding the reward management criteria. Following are the learning outcomes of the unit Reward Management 7RWM.
LO1: Identify the relationship between, environment and strategy in the system of reward management.
LO2: Find out the theoretical debates and conceptual apparatus in the reward management information.
LO3: Critically analyse the discussion of knowledge contingent and traditional bases for the reward relation and transactional.
LO4: Design a reward structure which is internally consistent and understands the equity constraint and labour market.
LO5: Identify the expatriate and executive rewards in the context of the organisation.
LO6: Critically analyse the key challenges in reward management.
The assessment criteria of the unit Reward Management 7RWM is completely comprised of the learning outcomes knowledge to make the students more knowledgeable in terms of reward management in human resource management.
1.1 Analyse and identify the external and internal factors which influence the strategy of reward including
1.2 Elaborate the advantages of the total reward procedure.
1.3 Elaborate your view and its significant objectives in the system of award Management which can be assistant to attend if there is the effective implementation and design.
1.4 The reason is that managers in the current days are more inclined to communicate and define strategies of reward for the organisation rather than utilising them in past.
2.1 Which extends are relevant to the sector or organisation you are connected with analyse the influential aspects.
2.2 In what way the payment policy manifest or differ in the human resource strategy including best practice, best fit and RBVF?
3.1 Sketch out the reward structure component in the organisation or the familiar structures. What are the base proportion pay to the variable pay? In what ways it is different in terms of the organisation part or security evaluate the cost-effectiveness
3.2 Identify the connection between the reward and performance and the objective of the organisation
3.3 In what ways the strategy of reward is more effectively connected with the most talented employees?
3.4 In what ways the bonus scheme or profit share can be motivational what are the advantages and disadvantages of the alternative approaches
3.5 In what ways does the strategy of reward pay a great contribution to the contrasting factor of employer brand? How much information about the reward strategy or structure of your organisation is in your website or public domain? Identify the connection between the strategy system and environment for reward management.
4.1 Pay attention to the added influences of reward theories in the before sections and identify the current pay strategy effectiveness.
4.2 Analyse the potential problem in differentials of pay
4.3 Define the salary hot spots these can be relatable to the geographical skills location and resource dependency
4.4 Define the significant pros and cons of the Benchmarking of pay in determining reward direction or strategy
4.5 Tell the reason organisation in which you benchmark.
4.6 What are the surveys of benchmarking does the organisation subscribe regularly to participate in it and what are its values?
5.1 What are the challenges in the determination of expatriates’ base pay?
5.2 Pay attention to the influences including cultural, social, political and living factors
5.3 Define the significant multinational corporation`s advantages in the operation of the single policy of reward and singles set reward employment practice throughout the Global operations.
5.4 Elaborate the reason for the problem when the employed staff of the company share.
5.5 Collectivist culture whereas the other countries` work prevails individualistic culture sketch published research at the development of argument.
6.1 Elaborate on the key challenges that are issues in reward management at the organisation or any organisation which you know. Utilise the indicative content to elaborate the particular issues with the sector or organisation.
6.2 To what extent is there transparency and fairness?
6.3 Which challenges are generated for the legislation reward?
6.4 What is the influence of auto-enrolment?
Preparing an assignment on the unit Reward Management 7RWM is a difficult task because the learners are required to deal with innovative strategies in reward management. Not all students have the idea to generate the Strategies and the analytical ways of preparing strategies to reward management in the organisation as human resource managers. For that purpose, the students are required to have some experience in human resource management with great skills in assignment writing. The students who do not have the time to prepare their assignments by mingling all corners of the study always prefer to get assistant from the senior HRM managers who can assist them with the assignment. If you are one of those then you are at the right place because we have the experience of many years in assignment writing to aid the learners of the CIPD with the great concerns of the educated writers at here.