CIPD Level 5HR03 Reward for Performance and Contribution Assignment Help UK

5HR03 Reward for Performance and Contribution Assignment Example

This unit focuses on how internal and external business factors influence reward strategies and policies, the financial drivers of the organisation and the impact of reward costs and rewarding performances.

CIPD’s insight

Strategic reward and total reward

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

Performance management

Performance management is about creating a culture that encourages the continuous improvement of individuals' skills, behaviours, and contributions to the organisation. It’s a key part of the relationship between staff and managers. Views on how it should be carried out to benefit employees and the business have changed in recent years. Here, you’ll find resources on managing performance, appraisal and reviews, feedback and using competency frameworks.

Also Read: 5HR02 CIPD: Talent Management and Workforce Planning Assignment Help

Making rewards more accessible and performance management fairer

  • Making rewards more accessible and performance management fairer
  • How can technology be used to allow better access to pay and a fairer assessment of employee performance and potential?

Preparation for the Tasks:

  • At the start of your assessment, you are encouraged to plan your work with your assessor and, where appropriate, agree on milestones so that they can help you monitor your progress.
  • Refer to the indicative content in the unit to guide and support your evidence.
  • Pay attention to how your evidence is presented.
  • Ensure that the evidence generated for this assessment remains your own work.

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You will also benefit from:

  • Complete and act on formative feedback from your assessor.
  • Reflect on your own experiences of learning opportunities and continuous professional development.
  • I read the CIPD Insight, Fact Sheets, and related online material on these topics and key research authors.

Also Read: CIPD Level 5 Associate Diploma in People Management Assessment Help

Scenario

Eco-Insulate UK 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 the 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. 

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Most employees receive 28 days of paid holidays per year. All employees are included in the non-contributory pension scheme; however, it’s generally known that special schemes operate only for senior staff. 

The MD is aware that the overall culture and performance of the company are quite harmful and that it’s time to look at offering forms of reward incentives, benefits and recognition to stimulate positive change. 

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.

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Report

To complete the report, you should include written responses to each of the 10 points below, using 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:

  1. Explain the principles of reward and its importance to organisational culture and performance management. (AC 1.1)
  2. Assess the contribution of extrinsic and intrinsic rewards to improving employee contribution and sustained organisational performance. (AC 1.2)
  3. Explain the differences between types of grade and pay structures. (AC 2.1)
  4. Explain how contingent rewards can impact individual, team and organisational performance. (AC 2.2)
  5. Explain the merits of different types of benefits offered by organisations. (AC 2.3)
  6. Explain the merits of different types of recognition schemes offered by organisations. (AC 2.4)
  7. Assess the business context of the reward environment. (AC 3.1)
  8. Evaluate the most appropriate ways to gather and measure benchmarking data to develop insight. (AC 3.2)
  9. Explain approaches to job evaluation. (AC 3.3)
  10. Explain the legislative requirements that impact reward practice. (AC 3.4) 

Your evidence must consist of the following:

  • A report referring to the above scenario, with written responses to each of the 10 instructions above.
  • Approximately 3900 words in total, according to the CIPD word count policy.

Assessment Criteria Evidence Checklist

You may find the following checklist helpful to ensure 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 that the assessment criteria have been met.

Task 1 – Report Section One Assessment criteria

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.
3.3   Explain approaches to job evaluation. 
3.4   Explain the legislative requirements that impact reward practice

 

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CIPD Level 5HR03 Reward for Performance and Contribution Assignment Answers

Assessment Criteria marking descriptors.

Assessors will mark in line with the following assessment criteria (AC) marking descriptors and will indicate where the learner sits within the marking band range for each AC.

Assessors must provide a mark from 1 to 4 for each assessment criteria within the unit. Assessors should use the mark descriptor grid as guidance to provide developmental feedback for learners. Please be aware that not all the mark descriptors will be present in every assessment criterion, so assessors must use their discretion when making grading decisions.

The grid below shows the range for each unit assessment result based on the total marks awarded across all assessment criteria.

To pass the unit assessment, learners must achieve a 2 (Low Pass) or above for each assessment criterion.

The overall result will dictate the learner's outcome for the unit, provided NONE of the assessment criteria have been failed or referred.

Please note that learners will receive a Pass or Fail result from the CIPD at the unit level. Referral grades can be used internally by the centre.

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