Question:
Using your own organisation (or one with which you are familiar), investigate the reward environment and produce a written report in which you:
- Assess the context of the reward
environment and the key perspectives that inform reward decisions. In this
section you should:
- Use an appropriate analysis tool to identify the internal and external factors.
- Analyse the particular impact of business drivers and related factors on reward decisions.
- Give examples of different ways of gathering and presenting reward intelligence.
- Demonstrate your understanding of
key reward principles and the implementation of reward policies and practices.
In this section you should:
- Evaluate the principle of total rewards and its importance to reward strategy.
- Identify and explain the importance of equity, fairness, consistency and transparency in terms of how they should underpin reward policies and practices. You may illustrate your understanding of these key principles by referring to topical reward matters.
- Assess the contribution of both extrinsic and intrinsic rewards to improving employee contribution and sustained organisation performance. Refer to academic research and the literature in this area and illustrate with examples of good practice.
- Explain how reward policy initiatives and practices are implemented in your chosen organisation.
- Demonstrate your understanding of the role of line managers in making reward decisions. In this section you should:
Explain the various ways line managers contribute to reward decision-making.
A written report of approximately 3900 words in total.
You should relate academic concepts, theories and professional practice to the way organisations operate, in a critical and informed way, and with reference to key texts, articles and other publications and by using organisational examples for illustration.
All reference sources should be acknowledged correctly and a bibliography provided where appropriate (these should be excluded from the word count).
Solution:
Introduction
It is a common practice among modern organizations to set up strategic reward management. A strategic reward demonstrates a unitary view of the employment relationship where the management provides the objective to lead. However, Cuevas‐Rodríguez et al. (2012) observed that the dominant logic for the management of reward system adopted by multinationals usually is varying in different recognizable types, reflecting competing pressures for consistency of approach in pursuit of global alignment with the organizational aims and local conformance pressures. This view was in line with ACAS (2014) who equally observed that reward designs ought to be informed by the business strategy in isolation from the considerations of internal and external equity. This is a demand for purposeful, coordinated and context-sensitive employee reward management as a logical consequence of counting the people to be employed and managed internationally as strategic resources, demanding top corporate management attention. It is at this point that the HR is involved in shifting from their traditional concerns in designing and administering pay structures and/or incentive arrangements, salary market survey and review planning in reaction to internal and external stimuli to a more proactive engagement for synchronization of organization-wide people management top-down and bottom-up approaches. Hence, it can be noted that in any organisation, reward management is a detailed process involving a series of players. Taking this into account, this report provides a thorough investigation of the reward environment with a focus on Abu Dhabi Construction Company (ADCC). This is an organisation involved in the provision of high-quality specialized services in areas of thermal insulation, surface protection, online cold/cryogenic insulation, painting among others. The area of focus would include reward environment and critical perspectives informing reward decisions, fundamental reward principles and reward policies and practices implementation and role of line managers in making reward decisions.
Part 1: Reward Environment and Key Perspectives Informing Reward Decisions
1.1 Context Of Reward Environment And Key Perspectives Informing On Reward Decisions
In order to identify the reward environment and critical aspects informing on reward decisions, it is appropriate to carry out an external and internal analysis. In this case, PESTEL and SWOT analysis tools can be adopted.
PEST Analysis……………………………………………………………………………………………………………………………………….Please contact us to receive support, guidance and tutorial services on this assessment customized to your organisation of interest
Email address: rankedtutorials@gmail.com