Essay Human Resources Management Training Programme – Financial Information – Management Assignment Help

Assignment Task :

Assignment Brief 

As part of the formal assessment for the programme you are required to submit Reward Management coursework assignment. Please refer to your Student Handbook for full details of the programme assessment scheme and general information on preparing and submitting assignments. 

Learning Outcomes: 

After completing the module, you should be able to: 

1. Analyse the relationship between the environment, strategy and systems of reward management. 

2. Explore the conceptual apparatus and theoretical debates informing reward management. 

3. Critically discuss traditional, contingent and knowledge bases for transactional and relational rewards. 

4. Design internally consistent reward structures that recognise labour market and equity constraints. 

5. Analyse executive and expatriate rewards in an international context. 

6. Critically evaluate key issues in reward management. 

7. Evaluate major theories relating to motivation, commitment and engagement at work and how these are put into practice by organisations. 

8. Using financial information to inform decision making 

Assignment Task 

This assessment is worth 100% of the total marks for the module. 

You have joined a UK based manufacturing company on a Human Resources Management Training Programme. The company employs UK, EU and non-EU nationals and is currently going through some strategic changes to introduce flexibility in the organisation’s systems of reward management. All the employees are paid on a time rate system and have 3 weeks’ annual holiday plus statutory holidays. The company has invested heavily in high-technology for its production lines, which has resulted in job losses, low staff morale and high staff turnover rates. These results were not anticipated by management, which now seeks to understand the implications of their planned change agenda. There is now a realisation by the company management that introducing and managing a new reward system is fraught with contextual challenges. As part of your training programme, you have been asked to research into the contextual implications of changing the company’s reward system strategy. Your research will have to address several objectives as out lined in the four tasks below: 

1. a) Using the PESTEL framework, identify, critically analyse and justify Four (4) important potential influences that will affect the introduction of the new systems of reward management arising from the macroenvironment facing the company in the UK

b) Critically evaluate the relevance of theory in an applied field such as Reward 

2. Following the successful completion of your first research task, the Human Resource Manager has asked for a report from you about ways of improving the payment system for all production employees. Write a report critically appraising three reward strategies and recommend a suitable reward scheme for the workers. 

3. Having been thoroughly convinced by the outcomes of your research and recommendations, senior managers are keen to adopt and apply an ethically fair and professionally appealing approach to the job evaluation process. 

a) Prepare a suitable presentation outlining the advantages and disadvantages of two types of job evaluation schemes and recommend what you consider to be a morally fair and suitable job evaluation scheme for use by the company. 

A newspaper headline screamed ‘FTSE 100 chiefs earn 160 times the average wage, study reveals.’ 

b) Critically analyse why executives are so well paid.