(Solution) CIPD 5HR03 Task Two – Report Section Two
New User Gifts
First Order Deal get Ksh 200 Off.
Original price was: £ 40.00.£ 10.00Current price is: £ 10.00.
Payment Methods:
Description
Solution
Task Two – Report Section Two
| Explain the legislative requirements that impact reward practice. (AC 2.4)
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 300 words
|
| Equality Act 2010
In order to prohibit any type of prejudice when awarding people, the Equality Act of 2010 might be used to reward practices. Employers are prohibited by law from discriminating against their employees’ wages, benefits, or work terms and conditions based on their sexual orientation, gender, race, handicap, or any other protected trait (Acas, 2023). The Equal Pay Act of 2010 also addresses the issue of how much men and women ought to be paid. For instance, GA Pensions must compensate men and women performing comparable employment or work of equivalent worth equally in order to maintain equity in rewards. These consist of equal pay, paid holidays, pensions, overtime pay, and paid annual leave. Only when a person’s abilities and credentials are essential for the position can GA Pensions reward men and women who perform comparable work in different ways. National Minimum Wage Act 1998 Employers are required by law to give workers a minimum wage per hour. GA Pensions should be aware that different ages have varied minimum wage requirements and should abide by them to prevent legal claims and accusations of discrimination. Ages 23 and over cost £9.50, Ages 21 to 22 cost £9.18, Ages 18 to 20 cost £6.83, Ages under 18 cost £4.81 and Apprentice cost £4.81 (Acas, 2023). Every set of workers receives a better income that can assist them satisfy their needs thanks to these various wage rates. GA Pensions could be paying more than the going hourly wage, but it shouldn’t be less. Paying workers less than the legal minimum wage will result in a legal risk for the business, making it harder for GA Pensions to find and keep talented staff. CEO Pay Reporting Companies with at least 250 workers in the UK are required by the Corporations (Miscellaneous Reporting) Regulations 2018 to declare the split between the CEO’s pay and the pay of full-time employees (Cotton, 2022). This is true of the CEO and employee pay structures of GA Pensions. The ratio of employee compensation to CEO compensation should be made public by GA Pensions. A report on changes in the CEO disclosure ratio and the metrics used to compute the ratio should also be included in GA Pensions. GA Pensions’s dedication to justice and fairness might be demonstrated by a lower CEO Pay ratio.
|
Please click the icon to access this assessment in full
Related Papers
(Solution) CIPS Advanced Level Project Proposal
(Solution) Question 1 (AC 1.1) 7C002 it is a mistake for people management specialists to distance themselves from administrative activity in favour of strategic work
(Solution) CIPD Explain the selection records that need to be retained. (AC2.4)
(Solution) 3CO04 Essentials of people practice Assessment ID / CIPD_3CO04_24_01
(Solution) Ethical values; impact on work as people professional
(Solution) CIPS ADNOC Cohort 15 Practitioner PSE Sourcing Essentials
- In summary, in this report, sourcing approaches have been evaluated.
- By focusing on ADNOC fuel main category of spend and other spend categories, the sourcing approaches have been identified to include multiple, single, dual, and sole.
- In ADNOC, the procurement process includes a detailed process that is defined by the transitioning of sourced products and services to the organisation.
- The identified spend categories are strategic, leverage, bottleneck, and non-critical items. Also, the products have been categorised into those with high-profit implications, risks incurred, and reliable.
- In the identified area of spend, multiple sourcing is preferred due to the critical nature of the identified spend category.