7HR03 Strategic Reward Management

Learner Assessment Brief

Level 7 Advanced Diploma in

• Strategic People Management

7HR03

Strategic Reward Management

The unit focuses on the role of strategic reward in attracting, motivating and retaining people at work in order to direct the actions and behaviours of individuals, teams and the organisation towards the achievement of organisational goals. Different financial and non-financial benefits will be applicable depending on the organisational context, but these must always be fair and equitable. The unit contains the elements required to design, introduce, manage and evaluate effective and fair reward strategies and how the associated policies and practices link and impact on other people practices.

CIPD’s insight

Strategic Reward and Total Reward

Strategic reward takes a long-term approach to how an organisation’s reward policies and practices can balance and support the needs of both the organisation and its employees. The concept of `total` reward covers all aspects of work that people value, both tangible and intangible, and may form part of an overall reward strategy.

This factsheet explores the various aspects of designing and developing a reward strategy, from rationale to implementation and gives guidance on the principles to consider. It introduces the various characteristics of total reward (including the elements they may include), before looking at the approaches available, and the advantages and drawbacks of total reward.

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

Reward Strategy

Reward strategy concerns the design and implementation of reward policies and practices to support and advance organisational objectives. Here you’ll find information on strategic, total, international and executive reward, market pricing and job evaluation, how to get the most value out of rewards, reward management, pay, and risks.

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

Assessment Principles

In your assignments at Level 7 you will be required to achieve the following:

1) Systematic understanding of knowledge and techniques, and a critical awareness of problems and/or new insights in the field of study and area of professional practice.

2) Originality in the application of knowledge relating to practical issues.

3) Ability to make decisions about complex issues, both systematically and creatively, and justify your judgements in the absence of complete data.

4) Ability to show self-direction and insight in tackling and solving problems, and in planning and implementing tasks at a professional level.

5) Clarity and confidence in communicating conclusions which can influence both specialist and non-specialist audiences.

6) Demonstrate insight in tackling and solving problems, and in planning and implementing tasks at a professional level.

7) Critical reflection and a passion for learning to advance your own knowledge and understanding through independent learning and the development of new skills at a high level.

8) Consistent and professional standard of presentation.

Preparation for the Tasks:

• Refer to the indicative content in the unit to guide and support your evidence.
• 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 1 – Report

You have been asked to produce a report to the board of directors which investigates current practice at your own organisation or one with which you are familiar with. The report should investigate, detail and justify (with reference to research and good HR practice) a series of recommended changes.

Your paper should be 3,000 words in length and should be professionally written. You report should cover the following:

• Discuss the importance of aligning the reward framework to the wider organisational context and strategy

• Critically evaluate the impact of organisational reward strategies to attract, motivate and retain talent.

• Critically evaluate the significance of a total rewards approach, including monetary and non- monetary incentives

• Analyse the advantages and disadvantages to your chosen organisation of using incremental pay scales

• Assess the benefits and challenges of using performance appraisal to guide pay progression decisions

Your report should be concise and well-referenced, using both academic papers/books and professional publications. All your key points of analysis and your recommendations should be persuasively justified using sources to support your views.

Your evidence must consist of:

• Report (3,000 words)

Task 2 – Response to Information Request

A request for information has come in from a member of your team. They wish to understand the importance of compliant and ethical reward practice and what approaches the organisation can take. You are required to produce a document that can be shared freely amongst internal members of staff.

Your document must include the following:

• Critically discuss the key legal requirements relating to pay and reward and the implications of non-compliance.
• Explain the merits and impact of transparency and fairness in approaches to reward.

The document should be easy to follow, laid out professionally using a contents page, headings and page numbers.

Your document should be well-referenced, using both academic papers/books and professional publications. All your key points of analysis and your recommendations should be persuasively justified.

Your evidence must consist of:

• • Response to Information Request (1,000 words)

Assessment Grading

You will receive either a Pass, Merit, Distinction or Refer/Fail result at unit level.

The grid below shows the range of results you could achieve based on total number of marks awarded across all assessment criteria. LO1: Understand effective reward strategies and policy frameworks

To pass the unit assessment you must achieve a 2 (Low Pass) or above for each of the assessment criteria. Discuss the importance of aligning the reward framework to the wider organisational context and strategy

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, Merit, Distinction or Refer/Fail from the CIPD once the work has been moderated.