CIPD Level 5RMT Assignment Example

The human resource department is tasked with the responsibility to oversee all matters patterning the employees in an organization. In this, they as part of management, have an obligation and a duty both to the company and to the employees to find a middle ground that is favourable to both parties. So as to execute this effectively, they are vested with the power to hire, fire, appraise and compensate employees duly. When it comes to motivating employees, reward plays a huge role and this could be the difference between an average perfuming company and optimum performance from the employees.

Learning objectives: 5RMT Reward Management Assignment

You are as good as what you know and as a student taking this course you should be what you learn will give you an edge in the field. By the end of this, the human resource department will be happy to have you on board.

• Understand different reward systems and how they promote proper management in an organization.
• Clearly understand the role of line managers in pay management.
• Learn how to design acceptable pay and reward structures that promote equitable pay as well as boost morale and motivate employees.
• How to analyze and synchronize employee pay with the global labour market.
• How to identify key issues in reward management and make sure that the best approach is taken when considering pay and reward for employees.

Who needs this

• Anyone looking to grow a career in human resource management
• Human resource consultants who offer external support to companies
• Learners looking to work in the H/R or whose scope interlink with those of HR department.

Introduction to Unit

Reward management seeks to properly equip the learners with effective and practical strategies to use in the field. A reward is clearly defined and is delivered in a variety of forms. Some of these are quite permanent and their effect is felt in the long term while others are temporary and are proportional to a preset goal.

The unit is covered under CIPD level 5, and comes in handy with the rest of units taught. Level 5 CIPD is most ideal for middle and high level managers and this unit is impossible to ignore since this will be squarely in their docket.

Equal and transparency pay

Equality and transparency are more ‘weightier’ than most people acknowledge. Equality is tied to fairness and may influence employee motivation and morale. Bottom line is, that most people tend to look for a job to service their bills, but that’s not something you want to include in your job application letter. As a learner, you need to understand the different remuneration criteria to use to determine fair pay and mould pay structure, after all this falls on the human resource docket.

Companies have been known to compensate their employees on both a retainer and commission basis. The latter is attributed to the level of input that an employee has and this should be made open to set targets both on the output of the company and personal gain. Transparency is enhanced when such policies are laid down and everyone is in the light of what is expected and they are properly remunerated.

Practically speaking, the discussion of remuneration has traditionally been known to be a one-way conversation and the level of output hasn’t been at its optimum. However, reward management will teach you that there is more than one way to go about it.

Why do people ask for pay rise

Different people react differently to different situations and depending on varying circumstances, the narrative changes from one employee to another when posed with the question, ‘ why do you need a payrise?’ While some are quite bold to state what they have in mind, some are timid and will shy away from asking for a pay rise, but is it due? The unit will equip you with the knowledge to properly analyze all factors surrounding the pay rise topic.

One of the things that you will learn is that the outlook of the management could be measured against their labor-compensation policies. This goes past internal image of the company to the external and this is something you need to protect at almost all cost. Pay rise on the other hand should be earned. There are a number of reasons that warrant a pay rise and among them, is an increase in responsibilities, more work equals more pay…

The role of line managers in managing pay

The management structure is quite definite ad clear in defining the role of each and every personnel right from the top most to the last employee on the chain. Our point of focus here is on human resource managers and how they integrate with line managers as far as the remuneration discussion is concerned. In most instances, pay will tend to have an upward trend unless when affected by other factors. Line managers have been known to initiate the pay rise conversation, but as it is, the final decision on whether or not to increase the salaries does not lie with them.

To get this into perspective, line managers are involved in the day to day running of the enterprise and are in constant contact with the employees. They, therefore, have a major role to play and it would be best if they would be involved as they work directly with the workers. This unit will explain all that pertains to line managers and their involvement in pay management. Their opinion does matter as far as pay is concerned.

Conclusion

5RMT reward management Assignment is covered under CIPD level 5 and by the end of the course, you will be required to undertake an assessment that averages around 4000 words covering all aspects related to reward and pay management. It has been a topic worth discussion ever since people started working and with the changing times, with people joining unions and being both bold and straightforward with their terms, you need to be ready to have that conversation and have your facts straight.