(Solution) CIPD Explain the relationship between reward and performance. (AC5.2)
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| Explain the relationship between reward and performance. (AC5.2) If you use secondary sources you should include your short references in the narrative here. Wordcount: Approximately 250 words. |
| By an organisation using rewards successfully, improved performance is evident. Through recognition and compensation of good working, staff motivation in working hard and increased productivity. According to CIPD (2023a), successful rewards assists in retention of best talents and encouraging behaviours in alignment with entity objectives. In Clean Quarter, this increase performance since staff work hard to get regards by giving best performance results.
Extrinsic and Intrinsic Motivation The intrinsic motivation is sourced within a person and identify motivation which emerge from internal factors including individual satisfaction, interests and a feeling of being challenged (Cherry, 2022). Individuals intrinsically motivated pursue job roles for individual gains as opposed to external pressures/rewards. Extrinsic motivation conversely come from outside of a person and entail doing something since it contribute to an expected result. In Clean Quarter, it can entail behaviours guided by external rewards including monetary, famous, grading and avoiding being punished. The intrinsic motivation harness performance improvement through facilitating staff to get appropriate meaning and satisfied with their functions. The extrinsic motivation increase performance by incentives offered despite of potential risks of dissatisfaction when rewards are not offered (Cherry, 2022). In Clean Quarter, the best practice can include mixing intrinsic rewards for developing ownership with employees rewarded for achieving while extrinsic reinforcing appropriate behaviours hence increased performance. Maslow’s Motivation Theory In line with this theory, it is informed by assumption that individuals motivation is for achieving specific needs. In line with Cherry (2022a), physiological needs such as food and water need to be achieved prior their safety, love and self-esteem and self-actualisation demands. The motivation is guided by work to achieve the subsequent level of needs. Satisfaction in every level of the pyramid lead to self-fulfilment and driving performance. The Maslow theory is used in supporting the relationship of rewards and performance. In line with Maslow Theory, it is informed by need to fulfil low levels expectations by extrinsic rewards assisting driving motivation for achieving improved growth level (HRDQ Staff, 2022).
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| Explain the reasons for treating employees fairly in relation to pay. (AC5.3)If you use secondary sources you should include your short references in the narrative here. Wordcount: Approximately 250 words. |
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- This business report has been used for evaluating the category and contract management in Eco2Solar Company.
- In particular, Eco2Solar operates to improve their project management (PM) and Cost Management (CM) as part of their category management has been evaluated.
- The areas of focus has included an evaluation of requirements for initiating and preparing category management, strategic and conventional sourcing process and role in contract management, tools and techniques for mapping categories of direct and indirect expenditure.
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- Further, in this business report, the contract administration and contract management in case of category management has similarly been evaluated in context of category management this is with assessment of risks and implementation of risk management techniques in contracts being reviewed in context of category management.
- In order to appreciate the best practice in category and contract management in the selected Eco2Solar construction spend area, use of quantitative and desk research has been pursued to obtain relevant data.
- Additionally, different tools have been applied such as Mendelow Stakeholders analysis, CIPS Category Management Cycle, CIPS Contract Management Cycle, Suppliers positioning, PESTLE analysis and SWOT analysis.
- Considering this business report findings, Eco2Solar need to improve their approach for risk management and efficiency and effectiveness of category and contract management.
- From these finding, the stakeholders collaboration in Eco2Solar need to be improved which can be done by embrace of blockchain technologies.
- Also, by identifying their PS&M teams training and capacity development, they would be able to improve on their category management. In the contemporary procurement environment, the training and capacity development has been noted as the best practice to manage gaps in their operations. Also, the findings indicate the need for Eco2Solar to improve their category management of their construction spend by coming up with appropriate SLA’s agreement and KPIs while ensuring they capitalise on innovativeness.
- For the project management and cost management, this being a long-term investment would require an improved auditing. This can entail embrace of analytics to analyse and present contract management data and appropriate management strategy.
- The importance of improved collaboration is ensuring stakeholders active involvement and awareness on core decisions made as this could harness their practice, contribution and suggestions noted.
- By successfully pursuing stakeholder analysis, it is important to maintain stakeholders relations which promote Eco2Solar organisation image and increase their market share.