| Category | Assignment | Subject | Management |
|---|---|---|---|
| University | Module Title | 7HR03 Strategic Reward Management |
As a part of the selection process for an internal promotion, you have been given the following brief:
Businesses continue to operate under a backdrop of economic instability, and many regions are experiencing a cost-of-living crisis. The latest CIPD reward management survey (2023) reports that some employers are making a much valued difference to the financial wellbeing of their workforce; others are falling short of employees’ expectations.
To explore this further, you are required to prepare answers to the following questions for discussion at a forthcoming interview. For the purpose of this assessment, you need to apply your answers to either your own organisation or one with which you are familiar.
It is essential that your reading of the published literature is used to inform your responses to all questions.
Question 1 (AC 1.4)
Critically evaluate the effectiveness of the organisation’s reward strategy recommending how this might be revised to more effectively attract and retain employees.
Question 2 (AC 2.4)
Evaluate the concepts of universal benefits as opposed to flexible ‘cafeteria’ style benefits, recommending which approach would be most suited to the organisational context. Justify your recommendations.
Question 3 (AC 3.2)
Analyse the advantages and disadvantages of using incremental pay scales within organisations, explaining why these would be appropriate to your organisation or not.
Question 4 (AC 4.3)
Examine the potential ethical issues associated with the use of contingency forms of reward within the organisation.
LO1 Understand effective reward strategies and policy frameworks
LO2 Understand the value of a ‘total rewards’ approach
LO3 Understand pay structures and approaches to establishing pay levels
LO4 Understand the importance of organisational approaches to compliant and ethical reward practice
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