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.
Learning Outcome, Assessment Criteria and Indicative Content 1 Understand the impact of reward approaches and packages. 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 Understand the importance of different components of reward. 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 Understand how to develop insight from benchmarking data to inform reward approaches. 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.
3.3 Explain approaches to job evaluation.
3.4 Explain the legislative requirements that impact reward practice.
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