Case 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:
Problem 1: Updating organization's remuneration strategy: Stakeholders
- 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
Problem 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?
Problem 3: What sources of information would you consider when developing options for the remuneration and employee benefits strategy?
Problem 4:
- What options would you include for each occupational group? List five.
- How do these options link to strategic objectives?
Problem 5: How would you keep a record of the agreed remuneration policies?