Scenario
The board at GA Pensions has decided to undertake a review of its reward strategies across the whole company. It is aware that the way reward is currently being implemented is fragmented and is causing elements of dissatisfaction amongst employees which is affecting business as well as employee performance outcomes. In your role as Reward Advisor, the board has asked you to provide it with a report that gives it an understanding of the context and approaches to reward and how these might influence a range of organisational and psychological factors. It also needs you to clarify the role that people professionals have in supporting line managers to make reward decisions.
Task One Report Section One
To complete the task, you should provide a written response to each of the points below, making appropriate use of academic theory and practical examples to expand your response and illustrate key points.
To help the reader, please make use of headings and assessment criteria references to signpost the assessment criteria being addressed.
1) Evaluate the principles of reward andits importance to organisational culture and performance management. (AC 1.1)
2) Explain how policy initiatives andpractices are implemented. (AC 1.2)
3) Explain how people and organisationalperformance can impact on the approach to reward. (AC 1.3)
4) Compare two different types of benefits offered by organisations and themerits of each. (AC 1.4)
5) Assess the contribution of extrinsicand intrinsic rewards to improving employee contribution and sustainedorganisational performance. (AC 1.5)
6) Assess the business context of thereward environment. (AC 2.1)
7) Evaluate the most appropriate ways inwhich benchmarking data can be gathered and measured to develop insight. (AC2.2)
8) Explain how organisations use insightto develop reward packages and approaches. (AC 2.3)
Sample solution
Dante Alighieri played a critical role in the literature world through his poem Divine Comedy that was written in the 14th century. The poem contains Inferno, Purgatorio, and Paradiso. The Inferno is a description of the nine circles of torment that are found on the earth. It depicts the realms of the people that have gone against the spiritual values and who, instead, have chosen bestial appetite, violence, or fraud and malice. The nine circles of hell are limbo, lust, gluttony, greed and wrath. Others are heresy, violence, fraud, and treachery. The purpose of this paper is to examine the Dante’s Inferno in the perspective of its portrayal of God’s image and the justification of hell.
In this epic poem, God is portrayed as a super being guilty of multiple weaknesses including being egotistic, unjust, and hypocritical. Dante, in this poem, depicts God as being more human than divine by challenging God’s omnipotence. Additionally, the manner in which Dante describes Hell is in full contradiction to the morals of God as written in the Bible. When god arranges Hell to flatter Himself, He commits egotism, a sin that is common among human beings (Cheney, 2016). The weakness is depicted in Limbo and on the Gate of Hell where, for instance, God sends those who do not worship Him to Hell. This implies that failure to worship Him is a sin.
God is also depicted as lacking justice in His actions thus removing the godly image. The injustice is portrayed by the manner in which the sodomites and opportunists are treated. The opportunists are subjected to banner chasing in their lives after death followed by being stung by insects and maggots. They are known to having done neither good nor bad during their lifetimes and, therefore, justice could have demanded that they be granted a neutral punishment having lived a neutral life. The sodomites are also punished unfairly by God when Brunetto Lattini is condemned to hell despite being a good leader (Babor, T. F., McGovern, T., & Robaina, K. (2017). While he commited sodomy, God chooses to ignore all the other good deeds that Brunetto did.
Finally, God is also portrayed as being hypocritical in His actions, a sin that further diminishes His godliness and makes Him more human. A case in point is when God condemns the sin of egotism and goes ahead to commit it repeatedly. Proverbs 29:23 states that “arrogance will bring your downfall, but if you are humble, you will be respected.” When Slattery condemns Dante’s human state as being weak, doubtful, and limited, he is proving God’s hypocrisy because He is also human (Verdicchio, 2015). The actions of God in Hell as portrayed by Dante are inconsistent with the Biblical literature. Both Dante and God are prone to making mistakes, something common among human beings thus making God more human.
To wrap it up, Dante portrays God is more human since He commits the same sins that humans commit: egotism, hypocrisy, and injustice. Hell is justified as being a destination for victims of the mistakes committed by God. The Hell is presented as being a totally different place as compared to what is written about it in the Bible. As a result, reading through the text gives an image of God who is prone to the very mistakes common to humans thus ripping Him off His lofty status of divine and, instead, making Him a mere human. Whether or not Dante did it intentionally is subject to debate but one thing is clear in the poem: the misconstrued notion of God is revealed to future generations.
References
Babor, T. F., McGovern, T., & Robaina, K. (2017). Dante’s inferno: Seven deadly sins in scientific publishing and how to avoid them. Addiction Science: A Guide for the Perplexed, 267.
Cheney, L. D. G. (2016). Illustrations for Dante’s Inferno: A Comparative Study of Sandro Botticelli, Giovanni Stradano, and Federico Zuccaro. Cultural and Religious Studies, 4(8), 487.
Verdicchio, M. (2015). Irony and Desire in Dante’s” Inferno” 27. Italica, 285-297.
Sample Answer
Sample Answer
Report on Reward Strategies at GA Pensions
Introduction
The review of reward strategies at GA Pensions comes at a critical juncture where employee dissatisfaction due to fragmented reward implementation has been identified as a barrier to optimal performance. This report aims to evaluate the principles of reward, explain the implementation of policy initiatives, and explore the interplay between organizational performance and reward strategies. Additionally, it will examine different types of benefits, the impact of extrinsic and intrinsic rewards, and assess the business context surrounding the reward environment. Finally, it will provide insights into benchmarking practices and how organizations can leverage these insights to develop effective reward packages.
1) Evaluate the Principles of Reward and Its Importance to Organisational Culture and Performance Management (AC 1.1)
Principles of Reward
The principles of reward revolve around fairness, equity, performance, and recognition. A well-structured reward system aligns with the organization’s goals and values while motivating employees to perform at their best. Key principles include:
– Equity: Ensures that employees feel they are compensated fairly relative to their peers.
– Transparency: Clear communication regarding reward criteria fosters trust and clarity.
– Alignment: Rewards should be aligned with organizational objectives, promoting behaviors that drive success.
Importance to Organisational Culture and Performance Management
A robust reward strategy plays a vital role in shaping organizational culture by reinforcing desired behaviors and values. For example, a culture that values innovation may offer bonuses for creative ideas, encouraging employees to think outside the box. Moreover, effective performance management relies on appropriate rewards to motivate and recognize high achievers, thereby enhancing overall productivity.
2) Explain How Policy Initiatives and Practices Are Implemented (AC 1.2)
Policy initiatives related to rewards are often implemented through a structured process that includes:
1. Needs Assessment: Identifying employee preferences and organizational goals through surveys or focus groups.
2. Policy Development: Formulating clear policies that outline the types of rewards available, eligibility criteria, and processes for distribution.
3. Communication: Effectively communicating the policy to all employees to ensure understanding and transparency.
4. Training: Providing training sessions for line managers on how to apply policies in practice.
5. Monitoring and Evaluation: Regularly assessing the effectiveness of reward policies through feedback mechanisms and performance metrics.
For instance, if GA Pensions decides to implement a new bonus program, it would first assess employee sentiments about bonuses, develop a policy outlining how bonuses are earned, communicate this policy effectively, train managers on its execution, and evaluate its impact after implementation.
3) Explain How People and Organisational Performance Can Impact on the Approach to Reward (AC 1.3)
People performance directly influences an organization’s approach to rewards. High-performing teams may expect more substantial rewards as recognition for their contributions, while low-performing areas may require different incentives aimed at improvement rather than simply rewarding existing performance.
Organizational performance also shapes reward strategies. For example:
– High Performance: In thriving organizations, rewards may shift towards performance-based pay or profit-sharing schemes to maintain motivation.
– Low Performance: Organizations struggling may focus on retention strategies involving non-monetary rewards such as professional development opportunities to enhance skills and engagement.
Thus, understanding both people performance and overall organizational outcomes is crucial for tailoring reward strategies effectively.
4) Compare Two Different Types of Benefits Offered by Organisations and the Merits of Each (AC 1.4)
Health Insurance vs. Flexible Working Hours
– Health Insurance:
– Merits: Provides security for employees regarding healthcare costs, enhances employee retention, and attracts talent. It reflects an organization’s commitment to employee well-being.
– Flexible Working Hours:
– Merits: Increases job satisfaction by allowing employees to balance work and personal life more effectively. This flexibility can lead to improved morale, productivity, and lower absenteeism.
Both benefits serve distinct purposes; health insurance is a traditional benefit emphasizing security, while flexible working hours cater to contemporary needs for work-life balance.
5) Assess the Contribution of Extrinsic and Intrinsic Rewards to Improving Employee Contribution and Sustained Organisational Performance (AC 1.5)
Extrinsic Rewards
Extrinsic rewards include monetary benefits such as bonuses and salary increases. They can drive immediate performance improvements by motivating employees to achieve specific targets. However, their effects are often short-lived unless coupled with intrinsic motivators.
Intrinsic Rewards
Intrinsic rewards stem from the satisfaction derived from the work itself—such as a sense of achievement or personal growth. They are crucial for sustained organizational performance as they foster long-term engagement, creativity, and commitment.
In conclusion, a balanced approach that combines both extrinsic and intrinsic rewards is essential for enhancing employee contribution and ensuring sustained organizational performance.
6) Assess the Business Context of the Reward Environment (AC 2.1)
The business context of the reward environment includes economic conditions, industry standards, organizational culture, legal regulations, and competitive practices. For GA Pensions:
– Economic Conditions: Economic downturns may force organizations to reconsider their reward strategies due to budget constraints.
– Industry Standards: Competitors might offer superior compensation packages, compelling GA Pensions to enhance its offerings to attract talent.
– Organizational Culture: A culture prioritizing collaboration may favor team-based rewards over individual incentives.
Understanding these factors is critical in shaping effective reward strategies that align with both internal goals and external market conditions.
7) Evaluate the Most Appropriate Ways in Which Benchmarking Data Can Be Gathered and Measured to Develop Insight (AC 2.2)
Benchmarking data can be gathered through:
1. Surveys: Conducting industry-wide surveys can provide valuable insights into prevailing compensation trends.
2. Networking: Engaging in professional associations allows for knowledge-sharing with other organizations regarding effective reward practices.
3. Publicly Available Reports: Utilizing salary reports from consulting firms provides benchmarks for compensation standards in specific industries.
Measurement can involve comparing specific metrics such as employee turnover rates or engagement levels against industry averages to identify areas for improvement.
8) Explain How Organisations Use Insight to Develop Reward Packages and Approaches (AC 2.3)
Organizations utilize insights from benchmarking data and employee feedback to design tailored reward packages that meet employee expectations while aligning with organizational goals. For instance:
– Data Analysis: Analyzing feedback regarding current benefits may reveal gaps or dissatisfaction areas that need addressing.
– Customization: Insights allow organizations to customize benefit packages—like offering student loan repayment assistance in industries facing skill shortages.
– Performance Metrics: Tracking performance metrics related to implemented rewards helps organizations refine their approaches continually based on what drives employee engagement and performance.
Thus, leveraging insights effectively ensures that reward packages remain relevant and competitive within the marketplace.
Conclusion
In summary, developing an effective reward strategy at GA Pensions requires a thorough understanding of the principles of reward, implementation practices, organizational context, and benchmarking insights. By aligning rewards with employee needs and organizational goals, GA Pensions can enhance employee satisfaction and drive overall performance. The role of people professionals in supporting line managers through this process is critical for ensuring consistent application and communication of reward policies across the organization.
