A total of 75 people work for Leia Technologies, founded in 2017. Adding to its portfolio of savings and investment products, Money4Future provides Lifetime ISAs and pensions and savings accounts.
As its HR team reevaluates its reward strategies and policies after a hectic start-up period, it now has little time to reflect. In light of the company’s growth and the amount of new staff in the HR department, the company recognizes that some gaps exist in knowledge about rewards for performance and contributions.
In your role as a senior HR professional, you’ve been asked to gain a deeper understanding of the impacts of reward approaches and packages, how benchmarking data can be used to inform reward approaches, and the role people professionals play in supporting managers.
As part of your manager’s request, you are to draft a guidance document to be sent to your colleagues and a blog article to be posted on the Human Resources team’s online news page.
- To guide and support your argument, reference the unit’s indicative content.
- You must pay attention to how your evidence is presented since you work in the People Practice Team.
- The evidence you generate for this assessment should remain your work.
Other benefits include:
- Reflecting on the learning opportunities, training, and continuing education you have received.
- CIPD Insight, Fact Sheets, and other online resources related to these topics.
- The assessment task(s) should be related to academic concepts, theories, and professional practice in a critical and informed manner, referencing key texts, articles, and other publications.
- Complete the front cover sheet, sign with a “wet signature”, and attach it to your assessment.
- Make sure your marker can see where your answer begins by using the bullet points below each task as headings and sub-headings.
Task One – Guidance
From a colleague, you have received a request to understand the impact of reward approaches and packages. In addition, they want you to understand the role of benchmarking in determining reward approaches.
Identify current models and present current thinking around these two areas in a guidance document. This guidance document could be broken down into the following sections:
This section examines the impact of rewards approaches and packages
- AC 1.1 Analyze rewards principles and their impact on organizational culture and performance management.
- AC 1.2 Describe the implementation of policy initiatives and practices
- AC 1.3 The approach to reward can be affected by people and organizational performance.
- AC 1.4 Assess the merits of the different types of benefits that organizations offer.
- AC 1.5 Assess the contribution of extrinsic and intrinsic rewards to improving employee contributions and sustained organizational performance.
The Benchmarking Data to Inspire Reward Approaches Section 2
- AC 2.1 Assess the reward environment from a business perspective
- AC 2.2 Assess the most appropriate way to gather and measure benchmarking data to generate insights.
- AC 2.3 Identify insights that will guide the development of reward packages and approaches.
- AC 2.4 Describe the legislative requirements that affect reward practices.
Task Two – Write a blog article
As an accompaniment to the guidance document, your manager has asked you to write a blog post that will appear on the HR Team’s online news page. The title should be:
“Supporting Line Managers to Make Reward Decisions – The Role of People Professionals”
It should be aimed at people who need information and guidance in the following areas:
- AC 3.1 Determine how performance management differs from other approaches.
- AC 3.2 Review the role of people practices in assisting line managers in making accurate and consistent reward decisions.
- AC 3.3 Analyze how line managers make rewards judgements based on organizational approaches to rewards.
The most important aspect of this article is its coverage of these topics. In addition to considering your audience (your internal team), you could also research what makes a good blog post and incorporate that into your article.
References and research should be included in your article.