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CIPD Level 5HR03 Reward Management Assignment: GreenFriendlyEco Case Study for Performance and Retention Strategy
| University | Chartered Institute of Personnel and Development (CIPD) |
| Subject | 5HR03 Reward for performance and contribution |
Scenario
GreenFriendlyEco is a medium sized private sector organisation that manufactures eco-friendly thermal insulation in the UK. The Managing Director (MD), who started the company in the mid-1970s has set up a meeting with you to discuss concerns regarding increased turnover of skilled and non-skilled employees.
During the meeting you are made aware that there is no incentive scheme in operation and there is an expected level of performance broadly related to the notion of measured day work. Standard times exist and are maintained by the Finance and Administration Department.
Most employees receive 28 days paid holidays per year. All employees are included in the non-contributory pension scheme however, it’s generally known that special schemes operate for senior staff only.
The MD is aware that the overall culture and performance of the company is quite negative and that it’s time to look at offering forms of reward incentives, benefits and recognition to stimulate positive change.
In your capacity as a reward specialist practitioner, he asks you to put together a report for the senior management team that will give them knowledge and understanding of the principles and components of reward and pay, including how these might influence organisational, psychological and cultural factors. In addition, he would also like them to gain an understanding of job evaluation and market rates.
Do You Need Assignment of This Question
Report
To complete the report, you should include written responses to each of the 10 points below, making 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 report.
With reference to the above scenario:
- Explain the principles of reward and its importance to organisational culture and performance management. (AC 1.1)
- Assess the contribution of extrinsic and intrinsic rewards to improving employee contribution and sustained organisational performance. (AC 1.2)
- Explain the differences between types of grade and pay structures. (AC 2.1)
- Explain how contingent rewards can impact individual, team and organisational performance. (AC 2.2)
- Explain the merits of different types of benefits offered by organisations. (AC 2.3)
Your evidence must consist of:
- A report, referring to the above scenario, with written responses to each of the 10 instructions above.
- Approximately 3900 words in total, refer to CIPD word count policy.
- Explain the merits of different types of recognition schemes offered by organisations. (AC 2.4)
- Assess the business context of the reward environment. (AC 3.1)
- Evaluate the most appropriate ways in which benchmarking data can be gathered and measured to develop insight. (AC 3.2)
- Explain approaches to job evaluation. (AC 3.3)
- Explain the legislative requirements that impact reward practice. (AC 3.4)
Assessment Criteria Evidence Checklist
You may find the following checklist helpful to make sure that you have included the required evidence to meet the task. This is not a mandatory requirement as long as it is clear in your submission where the assessment criteria have been met.
Task 1 – Report Section One
| Assessment criteria | Evidenced Y/N | Evidence reference |
|---|---|---|
| 1.1 Explain the principles of reward and its importance to organisational culture and performance management. | ||
| 1.2 Assess the contribution of extrinsic and intrinsic rewards to improving employee contribution and sustained organisational performance. | ||
| 2.1 Explain differences between types of grade and pay structures. | ||
| 2.2 Explain how contingent rewards can impact individual, team and organisational performance. | ||
| 2.3 Explain the merits of different types of benefits offered by organisations. | ||
| 2.4 Explain the merits of different types of recognition schemes offered by organisations. | ||
| 3.1 Assess the business context of the reward environment. | ||
| 3.2 Evaluate the most appropriate ways in which benchmarking data can be gathered and measured to develop insight. |
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