Manage reward and recognition strategies

This standard is about managing reward and recognition strategies. It includes planning, implementing and evaluating affordable reward and recognition systems, ensuring their fair application across the organisation and making recommendations for change.

This standard is for HR professionals who are involved in the management of reward and recognition strategies.

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1. research current and emerging trends, innovations and best practice relating to reward and recognition systems
2. carry out benchmarking exercises to inform proposals for market positioning
3. identify the demographic risks to your organisation
4. develop reward and recognition systems in line with relevant legislation and equality strategy
5. manage the governance process for executive-level pay matters
6. collect and prepare relevant information and recommendations to committees responsible for executive-level pay matters
7. provide data and information for external stakeholders, regulators and shareholders
8. manage the reward matters of unique employees
9. deliver annual and on-going reward and recognition programmes
10. apply reward and recognition systems across the whole organisation
11. support managers with reward and recognition decisions
12. assist with resolving any issues arising from these decisions
13. collect reward and recognition data and align it with relevant legislation
14. seek feedback on reward and recognition systems to inform their continuous improvement
15. identify legislative changes that may impact reward and recognition systems
16. review and evaluate the costs and benefits of the reward and recognition package
17. make recommendations for change

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1. your organisational strategies, values, goals and objectives
2. the sectors in which your organisation operates and the market factors impacting on its performance
3. how reward and recognition strategies align with the organisation’s values and culture
4. the sources of specialist information and expertise and how to access it
5. how to identify current and emerging trends, innovations and best practice relating to reward and recognition systems
6. how to carry out benchmarking exercises and use the outcomes to make proposals for market positioning
7. the demographic risks that apply to the organisation
8. how to address pay disparities
9. how to develop reward and recognition systems to attract and retain ‘flight risk’ groups
10. the range of financial and non-financial rewards
11. your organisation’s balance sheet and the impact of reward costs
12. how to develop reward and recognition systems
13. the governance process in relation to executive-level pay matters
14. the information required by committees responsible for executive-level pay matters
15. the data and information required by external stakeholders, regulators and shareholders
16. the methods of stakeholder management and engagement
17. how to manage reward and recognition matters of unique employees
18. how to deliver annual and on-going reward and recognition programmes
19. how apply reward and recognition systems across the whole organisation
20. the supporting techniques for managers with reward and recognition decisions
21.  the methods of resolving the issues reward and recognition decisions
22. the types of data and its compliance with relevant legislation and compliance
23. how to elicit feedback on reward and recognition systems
24. the methods of analysis and interpretation of the data
25. the sources of information on legislative changes
26. how to review and evaluate reward and recognition packages
27. the principles of agility, continuous improvement and business partnering needs
28. the Equality, Diversity and Inclusion (EDI) practices
29. the relevant data protection regulation

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1

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2030

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Current

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Original

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Instructus

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CFAHR10

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Personnel, Training and Industrial Relations Managers , Personnel and industrial relations officers

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4136

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Human resources; HR; reward; recognition strategies; reward systems

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