HCM553: Develop the “Employee Value Proposition Statement” and “Performance Based Reward Policy Statement: Performance Management and Total Rewards Strategy Assignment, SUSS, Singapore

ASSIGNMENT CONTENT:

Select an organisation you are familiar with. State clearly the industry.

Information tech (IT)

Develop the “Employee Value Proposition Statement” and “Performance Based Reward Policy Statement” emphasising the policies and practices of implementing performance-based reward framework in the organisation. Explain the policy intent and guiding principles clearly in this Policy Statement.

Describe the performance management framework of this organisation. Comment on the key features of this framework as to how good performers are identified, measured, and recognised with or without reward within this framework. Highlight any issues that may be addressed for further fine-tuning for effectiveness. How does the performance management framework help identify high potential employees with variable reward framework? Comment on the appropriateness of the performance management framework to help design and implement relevant incentive payment framework.

Describe the total performance-based rewards strategies and implementations of this organisation. Describe the alignment of the total rewards with the organisational mission, vision, core values and strategies. Highlight any mechanisms that need to be addressed to make them relevant to the business environment.

How do you identify and measure the employee’s demonstration of company core values to reward the employee? What is the measurement framework?

Describe how the total rewards practices are taking advantage of the performance management and measurements to recognise and reward good performers and high potential employees with relevant variable performance related reward system.

Suggest necessary areas of improvements the organisation should make to the performance-based reward system and performance management framework so that the organisation has a practical strategy and procedure to constantly drive superior performance to cope with the changing and uncertain business environment. Highlight any useful implementation issues that need to be addressed.