Advanced Remuneration and Performance ManagementAssessment 1This assessment is an individual...

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Advanced Remuneration and Performance ManagementAssessment 1

This assessment is an individual assessment and requires you to write an essay of 1,800 words (+/- 10%). First read the Case Study. As a Consultant for the Case Study organisation，you have been asked by the CEO of the organisation to put forward a paper on remuneration systems. In this paper, you will outline the purpose of the paper and relate it to the Case Study and the remuneration system evident, or not, in the Case Study. Define remuneration in terms of position-based and person-based systems. In the essay you need to outline the drivers/elements of the different remuneration systems. You need to provide a comprehensive analysis and demonstrate analytical and a critical analysis of the literature. Remember, you are the Consultant and you need to demonstrate that you have an understanding of the current remuneration system in the Case Study organisation and the ability to make a recommendation for a new or revised remuneration system based on your research. The guiding task/question is as follows: · As the Consultant to the Case Study organisation you are to conduct an analysis of position-based and person-based remuneration systems. Which person-based remuneration system or hybrid of systems will you recommended for the Case Study organisation? And why? You are to answer the question and make an argument relative to the drivers/elements of a remuneration systems. For instance, when you identify a driver/element you must argue why it is important and critical to the employees and the goals of the organisation. You should adopt an analytic and critical approach, as opposed to a purely descriptive one, in writing your essay. Your argument(s) must be supported by evidence, including material from contemporary (beyond 2007) academic refereed journal articles. You must use at least fifteen (15) contemporary academic journal articles (Do not cite the internet). Ensure you follow the criteria rubric in terms of the structure of the essay and the content. Read every section of the criteria rubric and respond accordingly. Note: Whilst you are writing the essay start to make a list of what you will include in Assessment 3 – your Portfolio. Instructions & Format Carefully read the Case Study. Using the information provided in the case study your task, as the Consultant to the Case Study organisation or organisation of your choice (approved by the facilitator), is to critically analyse remuneration systems, make an assessment of which system or hybrid of systems is most appropriate (come to a conclusion) and put forward a recommendation to the Case Study organisation. Set out your essay using the following structure (see criteria rubric), using headings as required: 1. Introduction 2. Analysis of Position-based and Person-based Remunerations Systems 3. Argument for most appropriate Person-based Remuneration System Note: here you need to highlight the drivers/elements of the most effective system/s. This section must present the arguments of authors. 4. Conclusion Note: as the Consultant you have to come to a conclusion before you can make any recommendation/s 5. Recommendation for the Case Study organisation Note: your recommendation is to be a strong statement of which remuneration system is most appropriate for the organisation, why (include the elements), when and how it should be developed and implemented. This is your argument as the Consultant. 6. Research and Referencing Make sure you write your essay using third-person language, and support your essay with a minimum of 15 contemporary (i.e. beyond 2007) refereed journal articles – do not cite the internet/web pages. Whilst you are the Consultant do not refer to yourself in first person. In writing this essay use headings to highlight the different sections according to the criteria rubric. Read through the marking criteria (assessment rubric) carefully before starting your essay.

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Akansha · Accepted Answer

REMUNERATION BASED SYSTEM
Running Head: Remuneration based system
5
REMUNERATION BASED SYSTEM
O’MEARA ELECTRONIC COMPANY
UNIVERSITY NAME:
STUDENT NAME:
CLASS:
Contents
INTRODUCTION	1
ANALYSES OF POSITIONED BASED AND PERSON BASED REMUNERATION	1
Person-Based Remuneration	2
Position-based Remuneration	3
WHY PERSON BASED REMUNERATION IS MORE APPROPRIATE	5
CONCLUSION	6
RECOMMENDATIONS	7
REFERENCES:	8
INTRODUCTION
The project highlights the remuneration system of the O’Meara Electronics Company. The company is operated for 20 years and has a reasonably high market share in Australia and has set up subsidiaries in four counties within South Africa and one in Germany. The given project will exemplify both position based remuneration and person based remuneration and decided which suits the company most. Arguments will be done to evaluate the various elements to which person-based it remuneration system is effective and can help the business to attain profitability. The conclusion will be added to know which remuneration is selected so that company could make some recommendation to get it done. Performance and position is the core area which lays the foundation for the designing the structure of a pay (Walker, 2010). The project is focusing on a difference between the position based remuneration system and position based remuneration system and how a company should evaluate which method is suited best for it. It will also discuss the recommendations to understand which way is currently more appropriate for the company and it should be developed and implemented.  
ANALYSES OF POSITIONED BASED AND PERSON BASED REMUNERATION
In the O’Meara Electronics Company, the profitability and productivity were continuously declining. So, the management decided to evaluate performances management and numeration management strategies and techniques to develop a new policy for the company. A peon discussion was conducted to the opinion of every employee on both performance-based remuneration and position based remuneration. Every employee has their view of both systems so, and it was important for the company to evaluate both the system efficiently and effectively. The company administration has conducted a meeting with all the employees for an open-ended discussion on what policy should be adopted- person – remuneration system or position – based remuneration system. Employees have been asked to put their opinion forward by the experience of they gain from any person or a company. 
Person-Based Remuneration 
Person-based remuneration is the system to pay the employees for their performance in the company operation. It is based on how employees are performing their responsibilities towards a common organizational goal. The person based management can be used for the business for how the employees or the entire company are performing during a fixed period of time. It can be evaluated monthly or weekly basis to know the employee status to redesign the pay. It is also known as one-off payment made to the employees according to the documented performance status (Shaw, 2014).
This system provides the manager a tool to attract or persuade the staff as they need to work hard or increase their performance status to get their pay increased. In the O'Meara Electronics Company, there is very confused regarding the pay of the employees. For Example- Joe is paid less as compare the Lan who does nothing. So, it will be a good decision to pay the employees in accordance with the performance in the company. It encourages the completion (Tomšič & Prijon, 2013). 
The performance-based remuneration may lower the morale of the employees because fear of reduction in their earnings may result in a decrease in productivity.  It may bring fear for giving the work to the managers for their opinion as it may result in a decrease in pay (Walker, 2010). 
Position-based Remuneration 
Position based remuneration is the manager selects a job position for employees by evaluating their experience and qualifications and set aside a pay scale to perform the job role.

This assessment is an individual assessment and requires you to write an essay of 1,800 words (+/- 10%). First read the Case Study. As a Consultant for the Case Study organisation，you have been asked...

Answer To: This assessment is an individual assessment and requires you to write an essay of 1,800 words (+/-...

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