HRM7005 Reward Management – Coursework Assignment Solution

HRM7005 Reward Management

Coursework Assignment

Date for Submission: Please refer to the timetable on ilearn

(The submission portal on ilearn will close at 14:00 UK time on the date of submission)

 
Assignment Brief

As part of the formal assessment for the programme you are required to submit Reward Management coursework assignment. Please refer to your Student Handbook for full details of the programme assessment scheme and general information on preparing and submitting assignments.

Learning Outcomes:

 

After completing the module, you should be able to:

1. Analyse the relationship between the environment, strategy and systems of reward

2. Explore the conceptual apparatus and theoretical debates informing reward

3. Critically discuss traditional, contingent and knowledge bases for transactional and relational

4. Design internally consistent reward structures that recognise labour market and equity constraints.

5. Analyse executive and expatriate rewards in an international

6. Critically evaluate key issues in reward

7. Evaluate major theories relating to motivation, commitment and engagement at work and how these are put into practice by organisations.

8. Using financial information to inform decision making

Guidance

Your assignment should include: a title page containing your student number, the module name, the submission deadline and the exact word count of your submitted document; the appendices if relevant; and a reference list in AU Harvard systems. You should address all the elements of the assignment task listed below. Please note that tutors will use the assessment criteria set out below in assessing your work.

You must not include your name in your submission because Arden University operates anonymous marking, which means that markers should not be aware of the identity of the student. However, please do not forget to include your STU number.

Maximum word count: 5000 words

Please refer to the full word count policy which can be found in the Student Policies section here: Arden University | Regulatory Framework

Please note the following:

 

Students are required to indicate the exact word count on the title page of the assessment.

 

The word count includes everything in the main body of the assessment (including in text citations and references). The word count excludes numerical data in tables, figures, diagrams, footnotes, reference list and appendices. ALL other printed words ARE included in the word count.

 

Please note that exceeding the word count by over 10% will result in a 10-percentage point deduction.

 
Assignment Task

This assessment is worth 100% of the total marks for the module.

 

You work in an insurance company. The company has always operated on a flat rate pay scheme, for all employees. It has now been decided that there should be some reward for performance. This reflects the feedback received from employees in a recent employee attitude survey. Employees commented that they did not think it fair that all employees received the same reward regardless of their level of contribution.

You are now planning the introduction of some form of performance related pay. In doing this you need to address several different issues, and in doing so you need to answer the following questions: HRM7005 Reward Management

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1. The reward system in an organisation is affected by both internal and external
2. Identify two internal and two external factors that need to be considered when introducing performance related pay and evaluate their impact on strategy and systems of reward
3. Critically discuss the possible relationships between the assumptions of Human Capital theory and internal labour markets (1,250 words) (25 marks) (LOs 1 & 2)

2. It is likely that introducing performance related pay will have the potential to increase the cost of reward in the insurance company. The senior management have asked, therefore, for some way of evaluating whether the approach is Explain an approach that could be used and critically evaluate the extent to which the pay structure considers labour market and equity constraints. (1,250 words) (25 marks) (LOs 3 & 4)

 

3. Critically evaluate what you must consider when ensuring that the performance related pay scheme is both ethical and demonstrates a professional approach to an international Executive and Expatriate reward (1, 250 words) (25 marks) (LOs 5 & 6)

 

4. Pay does not necessarily motivate individuals, but other aspects of reward might
5. Critically analyse the impact that performance related pay might have on the
6. Critically assess the factors that determine the validity and reliability of market rate data in determining pay structures? (1,250 words) (25 marks) (LO 7 & 8)

Formative Feedback

 

You have the opportunity to submit a bullet point outline of what you propose to cover in your assignment to receive formative feedback.

The feedback is designed to help you develop areas of your work and it helps you develop your skills as an independent learner.

If you are a distance learning student, you should submit your work, by email, to your tutor, no later than 2 weeks before the actual submission deadline. If you are a blended learning student, your tutor will give you a deadline for formative feedback and further details.

Formative feedback will not be given to work submitted after the above date or the date specified by your tutor – if a blended learning student.

Referencing Guidance>HRM7005 Reward Management

 

You MUST underpin your analysis and evaluation of the key issues with appropriate and wide ranging academic research and ensure this is referenced using the AU Harvard system.

Follow this link to find the referencing guides for your subject: Arden Library

Submission Guidance

 

Assignments submitted late will not be accepted and will be marked as a 0% fail.

 

Your assessment should be submitted as a single Word (MS Word) or PDF file. For more information please see the “Submitting an Assignment – Guide” document available on the A-Z key information on iLearn.

You must ensure that the submitted assignment is all your own work and that all sources used are correctly attributed. Penalties apply to assignments which show evidence of academic unfair practice. (See the Student Handbook which is available on the A-Z key information on iLearn.)

HRM7005 Reward Management

Assessment Criteria: Level 7

HRM7005 Reward Management