Recent Papers 03-07-2022

5HR03 Reward for Performance and Contribution | Express Assignment UK

5HR03 Reward for Performance and Contribution

Learner Assessment Brief

Level 5 Associate Diploma in People Management

Assignment Help for 5HR03 Reward for Performance and Contribution

At Express Assignment UK, we are committed to provide you with the best 5HR03 Reward for Performance and Contribution assignment help and are always looking forward to let you achieve higher grades than ever before. By using our service and placing your order with us, you will receive the work which is always prepared for you to Turnitin. Though we give strong emphasis towards first-attempt pass, however, in case your tutor provides the feedback, it will be catered accordingly and will be completely free of cost.

This unit focuses on how internal and external business factors influence reward strategies and policies, the financial drivers of the organisation and the impact of reward costs. It considers the importance of the role of people practice in supporting managers to make robust and professional reward judgements and the impact of rewarding performance.

CIPD’s insight

Reward: An Introduction

Pay and benefits are important in attracting, retaining and engaging employees. A range of options is available to reward people and recognise their contribution, each with their own opportunities and risks. The most effective reward packages support the business strategy, staff wants, and the organisation’s purpose, culture and performance, in a fair and consistent way.

https://www.cipd.co.uk/knowledge/fundamentals/people/pay/reward-factsheet#gref

Reward Management Survey (CIPD, 2020)

The CIPD’s latest reward management survey focuses on the impact that COVID-19 and the ensuing economic turmoil have had on reward practices in the UK. The survey asks whether global events and resulting trends have forced organisations to revisit their reward policies on, for example, matters like employee financial wellbeing. The report examines the motivations behind these changes in reward, the barriers encountered along the way, and includes recommendations for practitioners who plan to update their polices in 2021.

https://www.cipd.co.uk/knowledge/strategy/reward/surveys

Strategic Reward and Total Reward

Strategic reward takes a long-term approach to how an organisation’s reward policies and practices can support its business objectives. The concept of `total` reward covers all aspects of work that employees value, both tangible and intangible, and may form part of an overall reward strategy. Evaluate the principles of reward and its importance to organisational culture and performance management.

Total reward may form part of a strategic approach to reward for many employers. For example, an organisation might adopt a total reward approach, providing cutting edge learning programmes together with flexible working options, as well as more traditional aspects of pay and benefits, to recruit, retain and engage the staff it needs to secure its business objectives.

The ability to design and implement a reward strategy and a total reward approach is an important aspect of a HR professional’s role and it forms part of the CIPD’s Profession Map.

https://www.cipd.co.uk/knowledge/strategy/reward/strategic-total-factsheet

Case study - 5HR03 Reward for Performance and Contribution

Leia Technologies was formed in 2017 and employs 75 people. Recently the company has launched its new app “Money4Future” and provides saving and investment products including Lifetime ISAs, pensions and saving accounts.

After a hectic start up, the company’s HR team is now able to reflect on its reward strategies and policies. They recognise due to the growth of the company, and the amount of new people within the HR team, that there are some gaps in knowledge about Reward for Performance and Contribution.

As a senior member of the HR Team, you have received a request from a colleague for an understanding of the issues relating to the impact of reward approaches and packages, how benchmarking data can inform reward approaches and the role of people professionals in supporting line managers.

Your manager has asked you to produce a guidance document to be sent to your colleagues and a blog article to be placed on the HR Team’s online news page.

Preparation for the Tasks:

  • Refer to the indicative content in the unit to guide and support your evidence.
  • Pay attention to how your evidence is presented, remember you are working in the People Practice Team for this task.
  • Ensure that the evidence generated for this assessment remains your own work.

You will also benefit from:

  • Reflecting on your own experiences of learning opportunities and training and continuing professional development.
  • Reading the CIPD Insight, Fact Sheets and related online material on these topics.
  • You should relate academic concepts, theories, and professional practice to the assessment task(s), in a critical and informed way, and with reference to key texts, articles and other publications.

Don’t forget to:

  • Complete the front cover sheet, sign with a “wet signature” and place at the front of your assessment.
  • Use the bullet points below each task as headings and sub-headings so your marker can see where your answer begins.

Task One – Guidance Document

You have received a request from a colleague for an understanding of issues relating to the impact of reward approaches and packages. They also want to understand how benchmarking data can inform reward approaches.  

Generate a guidance document that covers these two areas, including current models and thinking around the subject. You may wish to break down the guidance document into the following sections:

Section 1 – The Impact of Reward Approaches and Packages

  • Evaluate the principles of reward and its importance to organisational culture and performance management. (AC 1.1)
  • Explain how policy initiatives and practices are implemented (AC 1.2)
  • Explain how people and organisational performance can impact on the approach to reward. (AC 1.3)
  • Compare the different types of benefits offered by organisations and the merits of each. (AC 1.4)
  • Assess the contribution of extrinsic and intrinsic rewards to improving employee contribution and sustained organisational performance. (AC 1.5)

Section 2 – Benchmarking Data to Inform Reward Approaches

  • Assess the business context of the reward environment (AC 2.1)
  • Evaluate the most appropriate ways in which benchmarking data can be gathered and measured to develop insight. (AC 2.2)
  • Develop organisational reward packages and approaches based on insight. (AC 2.3)
  • Explain the legislative requirements that impact reward practice. (AC 2.4)

Task Two – Blog Article

To sit alongside the guidance document, your manager has asked you to create a blog article to sit on the HR Team’s online news page.  The article should be titled:

“Supporting Line Managers to Make Reward Decisions - The Role of People Professionals”

It should be aimed at people requiring information and guidance and should cover the areas below:

  • Assess different approaches to performance management. (AC 3.1)
  • Review the role of people practice in supporting line managers to make consistent and appropriate reward judgements. (AC 3.2)
  • Explain how line managers make reward judgements based on organisational approaches to reward. (AC 3.3)

The most important part of this article is covering the areas above. Whilst you should consider the audience (your internal team) you are writing for, you could also research what makes a good blog post and incorporate those elements into your article.

Your article should contain research and references

Assessment Criteria Evidence Checklist: 5HR03 Reward for Performance and Contribution

Use this as a checklist to make sure that you have included the required evidence to meet the task. Please enter the evidence title and where it can be referred to. An example has been provided for you.

Task 1 – Guidance Document         Assessment criteria

 

Evidenced Y/N

 

Evidence reference

1.1

Evaluate the principles of reward and its importance to organisational culture and performance management.

 

Guidance Document

1.2

Explain how policy initiatives and practices are implemented.

 

 

1.3

Explain how people and organisational performance can impact on the approach to reward.

 

 

1.4

Compare the different types of benefits offered by organisations and the merits of each.

 

 

1.5

Assess the contribution of extrinsic and intrinsic rewards to improving employee contribution and sustained organisational performance.

 

 

2.1

Assess the business context of the reward environment.

 

 

2.2

Evaluate the most appropriate ways in which benchmarking data can be gathered and measured to develop insight.

 

 

2.3

Develop organisational reward packages and approaches based on insight.

 

 

2.4

Explain the legislative requirements that impact reward practice.

 

 

Task 2 – Blog Article Assessment criteria

Evidenced Y/N

Evidence reference

3.1

Assess different approaches to performance management.

 

Blog article

3.2

Review the role of people practice in supporting line managers to make consistent and appropriate reward judgements.

 

 

3.3

Explain how line managers make reward judgements based on organisational approaches to reward.

 

 

Assessment Grading: 5HR03 Reward for Performance and Contribution

The grid below shows the range of results you could achieve based on total number of marks awarded across all assessment criteria.

To pass the unit assessment you must achieve a 2 (Low Pass) or above for each of the assessment criteria.

The overall result achieved will dictate the outcome you receive for the unit, provided

NONE of the assessment criteria have been failed or referred.

You will either receive a Pass or a Fail from the CIPD once the work has been moderated. The bandings below are used to indicate if your work is sitting at a low pass, pass or high pass.

Overall mark

Unit result

0 to 23

Fail

24 to 30

Low Pass

31 to 39

Pass

40 to 48

High Pass

Marking Grid

Mark

Range

Descriptor

1

 

Fail

Insufficient demonstration of knowledge, understanding or skills (as appropriate) required to meet the AC.

Insufficient examples included, where required, to support answers.

Presentation and structure of assignment is not appropriate and does not meet the assessment brief.

2

Low Pass

Demonstrates an acceptable level of knowledge, understanding or skills (as appropriate) required to meet the AC.

Sufficient and acceptable examples included, where required, to support answers.

Required format adopted but some improvement required to the structure and presentation of the assignment.

Answers are acceptable but could be clearer in responding to the task and presented in a more coherent way.

3

Pass

Demonstrates good knowledge, understanding or skills (as appropriate) required to meet the AC.

Includes confident use of examples, where required, to support each answer.

Presentation and structure of assignment is appropriate for the assessment brief.

Answers are clear and well expressed.

4

High Pass

Demonstrates a wide range and confident level of knowledge, understanding or skill (as appropriate).

Includes strong examples that illustrate the point being made, that link and support the answer well.

Answers are applied to the case organisation or an alternative organisation.

Answers are clear, concise and well argued, directly respond to what has been asked.

The presentation of the assignment is well structured, coherent and focusses on the need of the questions.

Includes clear evidence of the use of references to wider reading to help inform answer.

Evaluate the principles of reward and its importance to organisational culture and performance management.

5HR03 Reward for Performance and Contribution

100% Plagiarism Free & Custom Written, Tailored to your instructions
paypal checkout

Our Giveaways

Plagiarism Report

for £20 Free

Formatting

for £12 Free

Title page

for £10 Free

Bibliography

for £18 Free

Outline

for £9 Free

Limitless Amendments

for £14 Free

Get all these features for
£83.00 FREE

ORDER NOW