Exam (elaborations)
Need help with CIPD level 5
- Module
- CIPD level 5 (5HR03)
- Institution
- The University Of Manchester (UOM)
A document containing comprehensive answers to 5HR03 with examples and citations
[Show more]
Seller
Follow
Content preview
Student name:Tutor:
Cohort:
Date:
Word count: 3800
,AC 1.1
Principles of rewards
1. Consistency
The aim of providing rewards in an organization is to motivate employees. To achieve
this, the business must ensure fairness in the reward process. Lack of trust in the
process can easily escalate to become a grievance and cause reduced morale among
the workforce. To ensure fairness in rewards, the business must ensure consistency in
the process of choosing the best performers. Through consistency, employees are
aware of what is expected of them. The only limitation with consistency is that it is prone
to habituation which results in reduced excitement among the employees as they
become used to the same rewards. When employees understand the metrics used in
rewarding employees, they are likely to manipulate the systems to get recognized. For
instance, employees may manipulate numbers to show a higher performance.
2. Transparency
When employees cannot understand systems in the organization, they become
pessimistic and easily blame the systems for their failures. However, transparency
builds confidence and encourages responsibility (Reward Management: In-Depth |
Croner-I, n.d.). The process should be simple and easy to understand for everyone.
Rewards should be justified to enhance trust and confidence in the employees. The
main challenge with enhancing transparency is that at times, it may violate employees’
privacy. For instance, people may be unwilling to reveal their salaries.
Culture and Performance Management
The culture of the business influences the choice of the rewards. Those who act per the
business culture become rewarded (Business Culture and the Rewards System | Pearl
Meyer, n.d.). For instance, a business that values customer service highly rewards
employees with the best customer service. An unethical business culture can result in
unfair means of achieving one's target such as accounting fraud. Performance
management influences the rewarding process because it provides the key
, performance indicators used to rank the performance of employees. The problem with
performance management is that it is subjective and can result in discrimination.
AC 1.2
To implement policies and strategies, one must first research the impact it will have on
the running of the business. If the projections indicate manageable interruption of the
business operations, then one can proceed with planning for the implementation of the
policies and practices. Planning involves the identification of the specific goal and
objectives of the process. Planning also involves the identification of the required
resources and the allocation of the resources to each department. Responsibilities are
also shared at the planning stage.
The next stage will involve training of the employees at Home International to equip
them with the skills and abilities to implement the policies and strategies (Policy
Implementation | POLARIS | Policy, Performance, and Evaluation | CDC, n.d.). Through
training, the employees get an understanding of the new policies. Making the
employees aware of the details of the policies helps in support and acceptability of the
changes among the employees.
Once the employees are prepared and aware of the policies, the management at Home
International can then put them into practice. The stage is delicate and requires close
monitoring to ensure they are fully implemented with minimal disruption in the business.
Once the policies become adopted by the business, the management will then require
periodic evaluation, to ensure they are per the laws, and business policies and that their
impact on the morale of the employees and even customer service (Implementing
Inclusive Policies Across a Global Organization, n.d.). To measure the impact of the
policies on the business, the management at Home International will need to
benchmark the impact of the policies against set KPIs. Through evaluation, changes are
made to policies to ensure they promote fairness and equity among the workforce.
AC 1.3
Positive impact
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller benwanyoike18. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for £5.87. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
53340 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy revision notes and other study material for 14 years now