-67%
Awaiting product image
Click to enlarge

(Solution) Explain the key components of an effective total reward system. (AC5.1)

New User Gifts

First Order Deal get Ksh 200 Off.

KaribuCustomer

Original price was: £ 30.00.Current price is: £ 10.00.

Payment Methods:

Description

Solution

Explain the key components of an effective total reward system. (AC5.1)If you use secondary sources you should include your short references in the narrative here. Wordcount: Approximately 250 words.
Total Reward System

The total reward system represent comprehensive and well-integrated strategy to reward staff by using compensation, benefits, perks, recognition opportunity, work and life balance, career growth and development (CIPD, 2023).

Financial Rewards

This is also identified as monetary pay offered to the employees for executing their functions which include pay, bonuses issued, commission and benefits (AdareHR, 2021).

Financial rewards include;

Base Pay– This example include the salaries and hour-based wages offered to the employees to pursue their job functions. For Clean Quarter, this can be fixed despite of how the organisation or employees execute their roles.

Performance-based Pay– This entail further pay which is offered to the employees after they have achieved their assigned roles or succeed in the competency-based system. In Clean Quarter, this can include bonus, profit-based sharing, spot rewards and commission-based pay.

Non-Financial Rewards

This is identified as non-monetary rewards offered to employees and include being recognised, capacity development, flexibility in working and appropriate workplace culture. The examples include;

Learning and Development– The provision of L&D strategies to staff offer them with an appropriate opportunity of attending to external and internal capacity development initiatives. This is while sourcing for support of learning for relevant qualifications or lateral/upward movement in organisation job positions (Pluxee, 2023). For Clean Quarter, this facilitates staff to consistently establish new capability which contribute to increased engagement and performance increase.

Recognition Program– This entail a set of initiatives set for acknowledging staff and team-based progress. In Clean Quarter, this can include long service award offered, thank you note, and special mention in their organisations newsletters (Masionis, 2023). This could increase motivation levels and retention.

 

 

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.

Please click the following icon to access this assessment in full

Related Papers

-75%
Placeholder

(Solution) Level 5 CIPD New Instructions 5C002- Evidence-Based Practice

Original price was: £ 40.00.Current price is: £ 10.00.
Add to cart
Solution Table of Contents Briefing Paper- Part One. 2 1.1 Concept of evidence-based practice. 2 Assessment of EBP. 2 Application
-67%
Placeholder

(Solution) CIPD Level 5 CIPD_5HR01_24_01 5HR01 Employment relationship management

Original price was: £ 30.00.Current price is: £ 10.00.
Add to cart
Solution Table of Contents Briefing Paper. 2 1.1 Employee involvement and participation. 2 Differences of EI and EP. 2 How
-50%
Placeholder

(Solution) CIPD New Avado 5C003- Professional Behaviours and Valuing People

Original price was: £ 20.00.Current price is: £ 10.00.
Add to cart
Solution Meaning of people professional By application of the CIPD Profession Map, it is possible to define people professional as
-67%
Placeholder

(Solution) CIPS PDC Royal Commission for Alula Managing Risk of Poor Quality

Original price was: £ 30.00.Current price is: £ 10.00.
Add to cart
In this second assessment, through a focus on Royal Commission for Alula (RCU) organisation, contract terms and conditions have been evaluated. The evaluation has focused on the effectiveness of these terms and conditions in;
  • Ensuring management of risks of poor quality, extension of time, costs increase and unethical practices
  • Making sure appropriate performance measures are monitored and managed
Also, as part of this report, the battle of forms have been evaluated with the best practice in ensuring management of these battle of forms identified. This has also been reflected in this assessment recommendation for ensuring organisation own terms and conditions are used. Apart from quoting the relevant terms and conditions, a set of tools have been used (specifications analysis, risk register, Mendelow analysis among others). For instance, by using standardisation valuation model, the importance of the contract in context of RCU has been identified. Further, through Mendelow analysis of different stakeholders, the relationship with contracts has been established. Further, by using a risk register, the best practice in managing the risk of extension of time has been evaluated.
-67%
Placeholder

(Solution) CIPS Advanced level Leadership & Management in Procurement and Supply

Original price was: £ 30.00.Current price is: £ 10.00.
Add to cart
  • In summary, this report has focused on evaluating the impact of approaches to leadership and management in an organisation.
  • To achieve this, a focus on Eco2Solar organisation has been prioritised where it has been established that the organisation current success in a project intended to achieve 2,000 installation in different apartments can be credited to their astute leadership and management.
  • This equally evidence the organisation position dominating UK solar sector.
  • These findings have been affirmed by PESTLE analysis of external factors, RACI Matrix among other tools which have been used.
-50%
Placeholder

(Solution) New PSE Sourcing Essentials ROSHN Syndicate Cohort

Original price was: £ 20.00.Current price is: £ 10.00.
Add to cart
This report makes use of the case study of ROSHN — Saudi Arabia’s leading real estate developer having the responsibilities of delivering quality homes. ROSNH plays an important role in the organization of construction activity in KSA and currently owns more than sixty percent in the market of residence construction. The key findings evidence that procurement practices of the organization are orderly with keen emphasis on the relationship it has with the suppliers so as to deliver construction materials in the shortest times and most efficient costs possible. The key findings evidence that an effective sourcing approaches will work to strengthen ROSHN’s procurement systems, minimize supply-chain vulnerabilities, and centralize costs for the organisation while offering the organization compliance with burgeoning sustainability shifts in the constructions industry. The following paper assesses the current sourcing initiatives and provides several critical suggestions that can strengthen procurement and supply chain. The key recommendations arising from this analysis include:
  • ROSHN should incorporate Porter’s Five Forces and PESTLE analysis into the organization’s Vendor Management Team (VMT)
  • The expansion of the approved list of suppliers by not less than fifteen percent in the course of the next year is vital in eliminating reliance on a few suppliers.
  • Improving eSourcing tools especially eAuctions to apply competitive pressures and lower costs of procurement. This will solve the problem of inefficiency in the tendering process and increase transparency while RHOSN already has efficient technology solutions for engaging suppliers.
  • Obligatory implementation of a supplier sustainability program that identifies suppliers with high levels of CS