Reference no: EM133298647

Scenario

In your organisation, you are the HR manager responsible for all HR functions, including remuneration and employee benefits management in an accounting firm. You have been asked to develop a remuneration strategy for two different occupational groups of your organization.

Please provide a brief description of your organisation as follows:

Industry
Nature of operations
Describe two occupational groups
Any other information that might be useful to understand the organisation.
Then answer the following questions based on your organisation:

Question 1:

Updating organisation's remuneration strategy: Stakeholders (1.1)

Who are the stakeholders for both occupational groups?
What methods of consultation would you use for different stakeholders?
What information could you collect from the stakeholders that will help you identify the scope of the remuneration and benefits plan? List five examples.
List 10 examples of employee benefits that you can include in your remuneration plan.
There are two common ways to pay remuneration: salaries and wages. Explain the differences between them.

Question 2:

Identify three areas of legislation that might have an impact on your remuneration strategy.
Where would you find information about trends in remuneration in your industry?

Question 3:

What sources of information would you consider when developing options for the remuneration and employee benefits strategy?

Question 4

What options would you include for each occupational group? List five.
How do these options link to strategic objectives?

Question 5:

How would you keep a record of the agreed remuneration policies?