| Category | CIPD Level 7 | Subject | Management |
|---|---|---|---|
| University | Chartered Institute of Personnel and Development (CIPD) | Module Title | 7HR03 Strategic Reward Management |
7HR03 Strategic reward management of level 7, will focus on explaining the role strategic reward plays in retaining, motivating, and attracting the people at work to direct behaviours and actions of employees in the organisation towards achieving the organisation. This unit will explain to you the different financial and non-financial benefits that will be applicable depending on the organisation's context the basic thing is that these rewards must be fair and relevant. 7HR03 contains elements that will be required during the designing, managing, introducing, and evaluating of the strategic reward, and how the other related practices and policies will be impacting people's practices.
In 7HR03 Strategic Reward Management, you will have the opportunity to learn the factors that influence design and reward policy. Understanding organisational strategy and variables is the key and you will critically justify the value of benchmarking and rewards strategy choices. Here in 7HR03, you will develop an in-depth understanding of the total approach of the rewards and their impact on base and incremental pay and benefits in performance appraisal and its links to pay for progression. You will even examine the ethical issues that may arise from rewards and how principles of transparency and equity are the cornerstone or responsible and effective approaches for reward.
Below is the 7HR03 strategic reward management assignment example. By going through the 7HR03 assignment example you will get answer to your questions such as, what type of writing you use, how CIPD level 7 assignment look like? You can even use this as a free sample for getting understanding of the format and structure of your assignment. But make sure that you not copy these answers as these are posted online and you will be caught under plagiarism.
CIPD 7HR03 Assignment Task 1: Understand effective reward strategies and policy frameworks.
1.1 Examine the key factors influencing the design of reward strategy and policy frameworks.
1.2. Discuss the importance of aligning the reward framework to the wider organisational context and strategy.
1.3. Critically justify the value of reward benchmarking exercises and the main methodologies organisations use to gather data.
1.4. Critically evaluate the impact of organisational reward strategies to attract, motivate, and retain talent.
CIPD 7HR03 Assignment Task 2: Understand the value of a ‘total rewards’ approach.
AC 2.1. Critically evaluate the significance of a total rewards approach, including monetary and non-monetary incentives.
AC 2.2. Analyse the role of base pay in attracting and motivating employees.
AC 2.3. Analyse a range of contingent pay schemes, including the advantages and disadvantages for organisations
AC 2.4. Evaluate different types of employee benefits and their suitability in different organisational contexts.
AC 2.5. Discuss the significance of non-financial rewards as part of a total rewards approach.
CIPD 7HR03 Assignment Task 3: Understand pay structures and approaches to establishing pay levels.
AC 3.1. Evaluate pay structures and their suitability in different organisational contexts.
3.2. Analyse the advantages and disadvantages of organisations using incremental pay scales.
3.3. Assess the benefits and challenges of using performance appraisal to guide pay progression decisions.
3.4. Examine the role of remuneration committees in determining and managing executive reward packages.
3.5. Examine a range of factors that impact international remuneration decisions.
7HR03 Assignment Task 4: Understand the importance of organisational approaches to compliant and ethical reward practice.
AC 4.1. Critically discuss the key legal requirements relating to pay and reward and the implications of non-compliance.
AC 4.2. Critically evaluate the role job evaluation plays in formulating reward decisions.
AC 4.3. Examine the potential ethical issues arising from the use of contingent forms of reward.
AC 4.4. Explain the merits and impact of transparency and fairness in approaches to reward.
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