(Solution) CIPD 5HR03 business context of the reward environment. (AC 2.1)
New User Gifts
First Order Deal get Ksh 200 Off.
Original price was: £ 50.00.£ 10.00Current price is: £ 10.00.
Payment Methods:
Description
Solution
A PESTEL analysis is a framework used to analyse the macro-environmental factors that may have an impact on an organisation as evidenced by CIPD (2023a). PESTEL stands for Political, Economic, Social, Technological, Environmental and Legal.
Political factors:
Recent legislation on equal pay could impact GA Pensions’ reward strategy. The Equality Act of 2010 reinforced the need for equal pay for equal work regardless of gender (Supervisor & Malla, 2018). This means GA Pensions needs to ensure pay levels are objectively justified and there are no unexplained gender pay gaps. This could increase pay transparency and lead to adjustments in some roles to align with market rates.
Economic factors:
Fluctuations in the economy may influence reward decisions. During economic growth, organisations may have more flexibility to offer higher pay raises and bonuses to attract and retain talent (Tatenda & Moment, 2014).). In a recession, budgets are tighter so rewards may be limited to core benefits with a focus on non-monetary recognition. GA Pensions will need strategic reward packages that are sustainable through different economic cycles.
Social factors:
Changing social and family dynamics impact the reward environment as evidenced by Tomlin et al (2017). Younger generations increasingly value flexible working to balance career and personal life. Offering flexibility allows GA Pensions to attract and engage younger employees by catering to this social trend. It helps portray the company as family-friendly and modern in its employment practices. However, flexibility must be applied judiciously to avoid accusations of favoritism. a holistic consideration of the political, economic and social landscape through a PESTEL lens can help GA Pensions design reward strategies that are socially responsible, compliant with legal requirements, and responsive to macro-trends, thus strengthening their employer value proposition over the long run.
Evaluate the most appropriate ways in which benchmarking data can be gathered and measured to develop insight. (AC 2.2)
Short references should be added into your narrative below. Please remember to only list your long references in the reference box provided at the end of this section.Word count: Approximately 400 words
Please click the following icon to access this assessment in full
Related Papers
(Solution) Article: Business leaders need to get back to basics and focus on their people
(Solution) CIPS Assessment 3 PSE Sourcing Essentials
- In summary, sourcing approaches has been evaluated in this assessment. This is through the focus of ADNOC organisation spend category.
- The selected spend category is IT for their advancement of remote and flexible working post-COVID-19 pandemic. Also, by comparing this with other different spend categories, the sourcing approaches evaluated included sole, multiple, single and dual sourcing.
- Through the application of different CIPS tools and techniques Kraljic analysis, Stakeholders analysis, SWOT and PESTLE analysis, a successful evaluation has been put into active process. This is with the best practice in ADNOC being identified and prioritised.
- Further, for the successful sourcing of ADNOC IT system, a successful suppliers appraisal process has been pursued.
- This has been done through the application of Cater’s 10C’s Model. As part of this analysis, the best supplier has been noted and involved.
(Solution) MCIPD BEHAVIOUR ASSESSMENT CIPD
(Solution) CIPS ADNOC APCE Advanced Practitioner Corporate Award
- In summary, this assessment has focused on developing an evaluation of the contractual terms and impact on power distribution in Abu Dhabi National Oil Company (ADNOC) and risk of supplier and organisation has been evaluated.
- A general contract used in ADNOC purchasing of goods has been used for achieving the aim of this assessment. Also, desk research and statistics have been used for the purpose of generating the expected findings.
- The findings indicate that the terms and conditions clearly stipulate on risks and power distribution between ADNOC and their suppliers of the gas turbines. This has been identified by application of various tools and models relevant for this assessment.