Explain and evaluate different forms of reward int

Explain and evaluate different forms of reward intelligence which Bakers could source, and how intelligence can be used. In doing this you should: • Identify different types of reward intelligence.

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RMT assessment brief

 

CIPD learning outcomes and assessment criteria

The following table sets out the CIPD learning outcomes and associated assessment criteria:

 

Learning Outcome

Assessment Criteria

  1. Understand the business context of reward and the use of reward intelligence.

 

1.1     Assess the context of the reward environment and key perspectives that inform reward decisions.

 

1.2     Explain the most appropriate ways in which reward intelligence can be gathered and presented.

 

  1. Understand key reward principles and the implementation of policies and practices.

2.1     Evaluate the principle of total rewards and its importance to reward strategy.

2.2     Explain the significance of equity, fairness, consistency and transparency as they affect reward policies and practices.

2.3     Explain how policy initiatives and practices are implemented.

 

  1. Understand the role of line managers in making reward decisions.

3.1     Explain the various ways in which line managers contribute to reward decision making.

3.2     Assess the contribution of extrinsic and intrinsic rewards to improving employee contribution and sustained organisation performance.

 

Assessment activity 1

 

Total Reward at [Baker’s Department Store or Own Organisation] – written briefing paper

 

This written briefing paper will allow you to demonstrate all the assessment criteria for RMT.  Your word count is 2000 words (+/- 10%).  You must submit your work on the document RMT assessment activity 1 template. Your briefing paper should include a list of cited references along with a bibliography of sources consulted but not specifically mentioned.  All the grey highlighted words in your template are excluded from your word count as are your references and bibliography.

 

Baker’s Department Store needs a comprehensive review of its reward policies and practices, and the Board of Directors want to know how the company should move forward with a more strategic approach to managing pay and reward.

 

You are required to produce a briefing paper for the Board.  You must review current reward management practices at Baker’s Department Store, and suggest a new approach for the organisation, based on principles of total reward.   Remember, you must give sound reasons to justify your ideas and suggestions and include a summary of your recommendations for the Board to consider.

 

Your briefing paper needs to respond to the following:

 

Strategic analysis

Using an appropriate analysis tool assess the internal and external factors that may impact Baker’s Department Store’s approach to reward now and in the future.  (1.1)

 

Reward intelligence

Explain and evaluate different forms of reward intelligence which Bakers could source, and how intelligence can be used.  In doing this you should:

•           Identify different types of reward intelligence.

•           Evaluate different ways reward intelligence is gathered and presented.

•           Explain the use of reward intelligence in making decisions about reward.  (1.2)

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