[Solved] 2.1 Evaluate the principle of total rewards and its importance to reward strategy.

Learning Outcome

Assessment Criteria

1. Understand the business context of reward and the use of reward intelligence.

1.1     Assess the context of the reward environment and key perspectives that inform reward decisions.

1.2     Explain the most appropriate ways in which reward intelligence can be gathered and presented.

1. Understand key reward principles and the implementation of policies and practices.

2.1     Evaluate the principle of total rewards and its importance to reward strategy.

2.2     Explain the significance of equity, fairness, consistency and transparency as they affect reward policies and practices.

2.3     Explain how policy initiatives and practices are implemented.

1. Understand the role of line managers in making reward decisions.

3.1     Explain the various ways in which line managers contribute to reward decision making.

3.2     Assess the contribution of extrinsic and intrinsic rewards to improving employee contribution and sustained organisation performance.