5RWM I106003

CIPD Assessment Activity

Title of unit/s / Reward Management
Unit No/s / 5RWM
Level / 5
Credit value / 6
Assessment method / Written report
Learning outcomes:
1. Understand the business context of reward and the use of reward intelligence.
2. Understand the key perspectives that inform reward decision making.
Assessment brief/Activity
Write a report in which you:
1.  Identify and analyse the business/organisational context that influences reward policy. In this section you should:
·  Use an appropriate analysis tool or technique to identify the internal and external factors which impact on an organisation’s reward policy.
·  Analyse the particular impact of business drivers and external factors on reward decisions.
2.  Explain, with reference to academic literature, the different ‘reward perspectives’ below, and evaluate their appropriateness and limitations in informing decisions about reward:
·  the psychological contract
·  expectancy and equity
·  collective bargaining
·  pay determination
·  pay regulation
3.  Explain and evaluate different forms of reward intelligence and how intelligence can be used. In doing this you should:
·  Identify different types of reward intelligence.
·  Evaluate different ways reward intelligence is gathered and presented.
·  Explain the use of reward intelligence in making decisions about reward. / Assessment Criteria
1.1, 1.3
2.1
1.2
Evidence to be produced/required
A written, evidenced based report of approximately 3000 words in length, together with a list of cited references.
Guidance for Assessors for 5RWM (LO 1 & 2)
This guidance is for assessors only and should not be handed out to candidates.
To achieve a pass, candidates should produce work equating to approximately 3000 words, which reflects the guidance given below.
Candidates should relate the report to academic concepts and theories and professional practice to the way organisations operate, in a critical and informed way, and with reference to key texts, articles and other publications and by using organisational examples for illustration. All sources must be supported by citations presented in the format that the centre determines.
Activity 1
AC 1.1, 1.3 / Candidates should use an appropriate tool, for example SWOT or PESTLE, to identify and analyse the internal and external factors that impact on an organisations’ reward policy.
Candidates should then analyse the impact of business drivers and external factors on reward, for example: affordability; inflation; market position; pay setting and pay progression; ‘job matching’ and comparability; implications for pay determination and pay structures.
Activity 2
AC 2.1 / Candidates should explain each of the five reward perspectives and provide an evaluation of their appropriateness and limitations in informing decisions about reward. Candidates should link their responses to academic literature and clearly reference this.
Activity 3
AC 1.2 / Candidates should identify different types of reward intelligence and evaluate how this is gathered (for example, surveys, pay clubs, consultants, recruitment agencies, job advertisements, reward journals (IDS), market intelligence, sector analyses etc) and presented.
Candidates should explain the use of reward intelligence in making decisions about reward.

National Assessment Bank – Intermediate level – Version 1 August 2012