1.1 Assess the context of the reward environment and key perspectives that inform reward decisions.
The concept “reward environment” according to Armstrong (2010) embodies all activities that supports the designing, implementation and maintenance of reward systems (policies, practice(s) and procedure(s)) aimed at achieving the objective(s) of the organisation(s) on one hand and that of its stakeholder(s) on the other.
1.2 Explain the most appropriate ways in which reward intelligence can be gathered and presented.
In providing a comprehensive answer, it is expedient to commence with an understanding of the term ‘Reward Intelligence”. From the process view, the concept consist of series of activities that spans from gathering the relevant piece(s) of information that relates to administering rewards to exercising a certain degree of processing, filtering and structuring so as to make the information collected useful.
2.1 Evaluate the principle of total rewards and its importance to reward strategy.
The concept “Total Reward” is not a new phenomenon, thus it has numerous scholarly and organisational definitions ascribed to it. While scholars like Chen and Hsieh (2006) asserts that the concepts embodies all things employees perceive as fair return in exchange for the efforts and time spent at work.
2.2 Explain the significance of equity, fairness, consistency and transparency as they affect reward policies and practices.
The understanding of all four concepts comes first before eliciting on the significance associated. Equity according to Adams (1965) focus on the equal allocation of rewards based on some laid down standards which are developed based on employee’s contributions and their outcomes.
2.3 Explain how policy initiatives and practices are implemented.
Implementation of reward policies and strategies do not occur independently, they are quite sequel to the process of formulation which make both processes inter-related.
3.1 Explain the various ways in which line managers contribute to reward decision making
Baeten (2014;P32) emphatically stated that line managers (LMs) are often underrated sources of insight into the functioning of reward systems. This statement brings to light the roles LMs plays in developing rewards for organisations.
3.2 Assess the contribution of extrinsic and intrinsic rewards to improving employee contribution and sustained organisation performance.
Rizwan et al (2015:33) asserts that the most important factor in any organisation is the workforce due to their ability to effectively and efficiently manage other factors and coordinate valuable resources so as to achieve the goals of the organization.
