Reward for Performance and Contribution (5HR03)
ASSOCIATE QUALIFICATIONS 2021
*self funders only
About this Unit
This unit focuses on how internal and external business factors influence reward strategies and policies, the financial drivers of the organisation and the impact of reward costs. It considers the importance of the role of people practice in supporting managers to make robust and professional reward judgements and the impact of rewarding performance.
What will you learn
You will evaluate the principles of reward and its importance to culture and performance management and how policies and practices are implemented. You will explain how people and organisational performance impacts approaches to reward and the different types of benefits offered by organisations. You will evaluate the most appropriate ways in which data can be gathered and measured and develop insight from benchmarking data. Additionally, you will develop reward packages and explain legislative requirements that impact reward practice. Finally, you will review the role of people practice in supporting managers to make consistent and appropriate reward judgements aligned to agreed approaches.
This unit is suitable for persons who:
- are aspiring to, or embarking on, a career in people management
- are working in a people practice role and wish to contribute their knowledge and skills to help shape organisational value
- are working towards or working in a people manager role
On completion of this unit, learners will:
- Understand the impact of reward approaches and packages.
- Be able to develop insight from benchmarking data to inform reward approaches.
- Understand the role of people professionals in supporting line managers to make reward decisions.
NEW CIPD ASSOCIATE QUALIFICATIONS 2021
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