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Summary HRM3705- Assignment 4 FULLY Completed 2023 - DUE 3RD OCT 2023
- Institution
- University Of South Africa (Unisa)
Fully completed assignment 4 for HRM3705, Along with interview questions and answers done for 5 people.
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By: nsibonelelwe • 1 year ago
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HRM3705Assessment 04
Semester 02 (2023)
DUE: 3rd October 2023
Name: Insert your initials and surname
Student number: Insert your student number
Instructions and guidelines are provided in red text. Delete this information as you
progress and insert the relevant details. Use a black font colour throughout the
document.
, HRM3705
Assessment 04 (Semester 3, 2023)
HONESTY DECLARATION FOR THE DEPARTMENT OF HUMAN RESOURCE
MANAGEMENT
Module Code: HRM3705
Assessment Due Date: ________________________
1. I know that plagiarism means taking and using the ideas, writings, works or inventions
of another as if they were one’s own. I know that plagiarism not only includes verbatim
copying, but also the extensive use of another person’s ideas without proper
acknowledgement (which includes the proper use of quotation marks) or any attempt to
cheat the plagiarism checking system. I know that plagiarism covers the use of material
found in textual sources and from the Internet.
2. I acknowledge and understand that plagiarism is wrong.
3. I understand that my assignment answers must be accurately referenced.
4. This assignment is my own work. I acknowledge that copying someone else’s work, or
part of it, is wrong, and that submitting identical work to others constitutes a form of
plagiarism.
5. I have not allowed, nor will I in the future allow, anyone to copy my work with the intention
of passing it off as their own work.
6. I understand that I can be awarded 0% if I have plagiarized.
7. I understand that my assignment may be submitted automatically to Turnitin.
8. I confirm that I have read and understood the following UNISA policies:
8.1 Policy for Copyright and Plagiarism
8.2 Policy on Academic Integrity
8.3 Student Disciplinary Code
Name……………………………………………… Student No: ..............................
Signed ……………………………………………. Date …………………………….
2
, HRM3705
Assessment 04 (Semester 3, 2023)
1. QUESTION 1
In the realm of Human Resource Management (HRM), two closely intertwined
concepts are strategic remuneration/reward and total rewards. Both concepts
revolve around the compensation and benefits that organizations provide to
their employees; however, they differ in terms of their scope and approach. In
this analysis, we will begin by elucidating the concepts of strategic
remuneration/reward and total rewards individually. Afterward, we will delve
into their interconnectedness, substantiating our discussion with pertinent
examples and course content.
1. Strategic Remuneration/Reward:
Strategic remuneration or reward entails the implementation of compensation
practices with a specific strategic objective in mind. It transcends the
conventional notion of merely compensating employees for their work and
seeks to harmonize compensation practices with the strategic goals of the
organization. This approach underscores the idea that employee rewards can
serve as a potent instrument for accomplishing organizational objectives.
The key components of strategic remuneration/reward encompass:
A) Pay Structure: This involves designing a pay structure that mirrors the
organization's hierarchy and various job roles.
B) Performance-Based Compensation: Employees are rewarded based on
their individual or team performance, fostering a performance-driven
culture.
C) Variable Pay: This incorporates bonuses, incentives, and profit-sharing
schemes to further motivate and align employees with organizational goals.
D) Benefits: Organizations provide benefits such as healthcare coverage,
retirement plans, and stock options as part of their remuneration strategy.
E) Recognition and Appreciation: Recognizing and appreciating employees for
their contributions extends beyond financial rewards, fostering a culture of
recognition.
3
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