Reward For Performance And Contribution

Case Study

Home International is a furniture manufacturer and online retailer. The organisation is a family-owned business that was started over 30 years ago, and currently employs 175 people on full-time or part-time contracts in the UK. They have offices based in Oxford, Munich, Santa Cruz, Suez, and Kuala Lumpur.  The organisation is growing and reaching a wider market due to the growth of online furniture shopping.

The organisation has grown during the pandemic, as clients have decided to invest in their homes. More and more people are changing their habits and purchasing sustainable products, which is seen as a positive, because Home International specialise in this area.

However, the business is currently in the process of reviewing all its policies, as Brexit means there have been several changes to rules regarding importing and exporting. This review includes people management processes in areas such as performance and reward. The objective is to cut costs, improve profits and reduce turnover.

Each office has a factory where the furniture is made and distributed on a global scale. Recently, the organisation has seen a higher turnover among the factory operatives who are aged 18 – 32 years old, whereas the office employees stick around for longer, and have an age range from 48 to 68 years old.

You have been tasked to provide the following:

·       Task One: A presentation on ‘Understanding the impact of reward approaches and packages. Also, the role of people professionals in supporting line managers to make reward decisions’

You will also benefit from:

·       Taking advantage of the CIPD Factsheets, Reports and Podcasts, and any other online material on these topics

Task One:  Presentation to key stakeholders

The HR director has asked you to create a documentation which will be delivered to the key stakeholders in the business. This presentation will focus on the approaches to reward and the role people professionals play in supporting line managers when developing reward packages. This documentation will also link in methods of performance management to support line management decisions. You will need to include research around the area of reward and performance management and link in business examples to support your research and show further depth.

Your documentation pages must include:

1.     An evaluation of two of the principles of reward (intrinsic and extrinsic reward and integrating reward with business objectives) (1.1).

2.     An evaluation as to why organisational culture and performance management are important to the principles of reward (1.1).

3.     An explanation of how Home International can implement new policy initiatives and practices in relation to rewards across the organisation (1.2).

4.     An explanation of how both people and organisational performance within Home International can impact its approach to rewards both positively and negatively (1.3).

5.     Using Home International and a second business example, produce a comparison of performance-related pay and intrinsic rewards as examples of benefits offered by each different organisation (1.4).

6.     An assessment of the benefits and drawbacks of how extrinsic and intrinsic rewards contribute to improved employee contribution and sustained organisational performance (1.5).

7.     An assessment of the effectiveness of performance review meetings and 360 degree feedback as approaches to performance management, including a review of the role that the people practice professionals within Home International can take to support you as a line manager, to ensure consistent and appropriate reward judgements are made (3.1).

8.     An explanation as to how line managers can make reward judgements based on organisational approaches to reward (3.3).

9.    A review of how people practice professionals can support line managers to make consistent and appropriate reward judgements.  The CIPD have provided a document called ‘The People Profession: now and for the future’, which can help you with this. (3.2)

 

Your evidence must consist of:

A documentation of approximately 2000 words (+ or – 10%)

 

HR03 – Reward For Performance And Contribution

Task 1: Presentation to Key Stakeholders.

Assessment Tasks: documentation approximately 200 words, with plus or minus 10%. Please save this as ‘HR03’, with your name and your presentation. You also need to provide a briefing paper of approximately 1,600 words. This also needs to have a word count of plus or minus 10%. This needs to be saved as ‘HR02 pack’, with your name.

The Case study: Home International is a furniture manufacture and online retailer. The organisation is a family-owned business that was started over 30 years ago, and currently employs 175 people on full-time and part-time contracts. They have offices based in Oxford, Munich, Santa Cruz, Suez and Kuala Lumpur. The organisation is growing and reaching a wider market due to the growth of online furniture shopping. The organisation has grown during the pandemic as clients have decided to invest in their homes, more and more people are changing their habits and purchasing sustainable products, which is seen as a positive because Home International specialise in this area. However, the business is currently in a process of reviewing all its policies, as Brexit means there have been several changes to rules regarding importing and exporting.

This review includes people management processes in the area of performance and reward. The objective is to cut costs, improve profits and reduce turnover. Each office has a factory where the furniture is made and distributed on a global scale. Recently, the organisation has a higher turnover amongst the factory operatives who are aged between 18 and 32, where the office employees stick around for longer and have an age range between 48 and 68 years old. You have been tasked with the following:

Task 1: A presentation on understanding the impact of reward approaches and packages. Also the role of people professionals in supporting line managers to make reward decisions.

Looking at Task 1 with more detail now.

Task 1: The HR director has asked you to create a presentation which will be delivered to stakeholders in the business. The presentation will focus on approaches to reward and the people professionals play in supporting managers with developing reward packages. The presentation will also link to performance management to support the line manager’s decision. You will need to research around the area of reward and performance management and link in examples to research and show your further depth. The presentation will need to be created in PowerPoint with accompanying slides to support your work.

Looking at this in further detail now by assessment criteria.

AC 1.1 – Evaluate the principles of reward and its importance to organisational culture and performance management. An evaluation of two of the principles of reward, intrinsic and extrinsic rewards and integrating with business objectives. An evaluation to why organisational culture and performance management are important to reward. To ensure that you get your grading sign posting, you need to make sure that you are including examples. For a Low Pass, sufficient examples will be included. For a Pass, confident use of examples will be provided, and a High Pass, strong examples that support your answer well must be applied, and this needs to also link within a case example of your business or a company that you are familiar with. Wider reading must be applied to help you in this answer.

AC 1.2 – Explain how policy incentives and practices are implemented. An explanation of how Home International can implement new policies and incentives and practices in relation to reward across the organisation. Again, you must include examples for each of these areas regarding a Pass, a Low Pass and a High Pass. It is most important that you provide working examples again with your business or business that you are familiar with.

AC 1.3 – Explain how people and organisations’ performance can impact on the approach to reward. An explanation of how both people and organisational performance within Home International can impact its approach to rewards, both positively and negatively. Within this answer, it’s important that you highlight both positive and negative examples and make sure that you are linking this maybe to your wider research and also maybe a business that you are familiar with.Again, this is key with all of the elements of passing this assessment criteria.

It’s recommended that you would probably include one or two examples of positive and negative examples within this assessment criteria.

AC 1.4 – Compare the different types of benefits offered by organisations and the merits of each. Using Home International and a second business example, produce a comparison of performance-related pay, an intrinsic rewards as an example of the benefits offered by each different organisation. And this is AC 1.4.

With this part of the assessment you can use, obviously, Home International and a business that you are maybe familiar with. With your wider research you could also find good examples of performance-related pay and extrinsic rewards. Have a look at some of those wider benefits offered by those different organisations to form a comparison. This question is focusing on the comparison of two different organisations.

AC 1.5 – Assess the contribution of extrinsic and intrinsic rewards to improve employee contribution and sustained organisational performance. An assessment of benefits and drawbacks of how extrinsic and intrinsic rewards contribute to the performance, improved by employee contributions and sustained organisational performance.

We’re thinking here about the benefits and limitations, benefits or drawbacks of both of those extrinsic and intrinsic reward. It’s probably recommended here that you have a look at two examples of each, to help you with writing this question. With this question, make sure that you are constantly linking to those wider researchers and also linking to business examples as and when you can. This information is widely available online and you shouldn’t have too many problems finding this information. You can always contact your tutor to help you if you are struggling with your research skills.

AC 1.3 – Assess the different approaches to performance management. For this question we’re looking at the assessment of the effective performance review meetings and 360-degree as an approach to performance management, including the role that people practice professionals within Home International can take to help you support your line manager to ensure consistent and appropriate reward judgments are made. People practice professionals are known as HR professionals, so that might be something you want to review. Maybe have a look at the role of HR within the reward process, and linking in specifically here with performance management.

Lots of information written on performance management and you must include lots of examples here to your links to the wider research. But you’re looking at specifically the role of effectiveness of performance management in terms of those review meetings and 360-feedback as an approach to performance management.,/p>

AC 3.2 – Review the role of people practice in supporting line managers to make consistent and appropriate reward judgement. We’re thinking here about a review of how people practice professionals can support your line managers to make consistent and appropriate reward judgments. The CIPD have a very useful document here that will help you with this. The people profession for the now and for the future is very useful and will provide you with a lot of help with this particular question. Again, looking at the suggested content again, those examples we need to be provided and as always, your referencing needs to be throughout your assessment in the Harvard referencing format.

AC 3.3 – Explain how line managers make reward judgments based on organisational approaches to reward. An explanation as to how line managers can make reward judgments based on organisational approaches. We’re looking at the business as a whole here, and that intricate role of what line managers are doing within that judgement. Again, those working examples can be included here and also the links to wider research will also support you with the writing of this question. That is the end of the first task.

 

THIS SHOULD INCLUDE:

• – introduction
• conclusion with recommendation
• EACH POINT HAS TO BE 200 WORDS. 
• INTEXT CITATION AS HARVARD 
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