| 5HR03 Reward for performance and contribution |
5HR03 Learner Assessment BriefÂ
Level 5 Associate Diploma in
- People Management
Case Study
A large private company, ABC Pholios Ltd known as ABC, offer financial portfolio investment advice and management to the public and to companies and government sectors. They run a large team of around 2000 workers across many role types, including large sales teams, consultants, and admin support, as well as employing some financial experts with a high level of technical skills and knowledge. The company has recently expanded its People provision, and you are new to the role of Employee Relations and Reward Manager. The Senior Management Team wants to learn more about different reward options so they can better motivate employees, attract and keep talented people, and improve performance in a competitive industry.
To help them do this they have asked you to provide written answers to the following questions.
When doing so you should make 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 answers.
Questions
- Explain the principles of reward and how, if implemented well, these would support both a positive culture and performance management at ABC. (AC 1.1)
- Assess the contribution of both intrinsic and extrinsic rewards at ABC in order to both raise the efforts of the workforce and to provide better long-term organisational performance. (AC 1.2)
- Explain the options ABC could consider for types of grade and pay structures and the differences between them. (AC 2.1)
- Explain how contingent rewards could impact ABC’s individual, team and organisational performance, based on their types of worker roles. (AC 2.2)
- Explain three different types of benefits ABC could implement and the advantages these are likely to provide. (AC 2.3)
- Explain three different recognition schemes that could be used at ABC and explain the benefits these would bring. (AC 2.4)
- Assess the ways in which the finance sector and ABC business context could shape reward choices at ABC. (AC 3.1)
- Evaluate the pros and cons of three methods ABC could use to gather and measure data in order to develop insights about their reward choices. (AC 3.2)
- Explain the different approaches that ABC should consider when choosing job evaluation methods. (AC 3.3)
- Explain three key legal rights that ABC must understand and comply with when making decisions about reward practices and policies. (AC 3.4)