Managing performance and rewards

Background

The Banking Royal Commission was conducted in 2018 to investigate concerns of a culture of greed and a lack of regulatory oversight in the financial services industry in Australia. In 2019, the Commissioner published a report which made recommendations for financial services organisations to implement which aimed to to de-emphasise sales relative to ethical behaviour and customer outcomes.

Don't use plagiarized sources. Get Your Custom Essay on
Managing performance and rewards
Get a plagiarism free paper Just from $13/Page
Order Essay

Task (Scenario)

You have been engaged by one of the retail banks as a specialist HR consultant to advise on how the recommendations from the Royal Commission can be operationalised.

The company’s goal is to rebuild public confidence and reduce the risk of poor customer outcomes. Your client believes changes must be made to the organisation’s performance & reward practices.

Your client has advised that recommendation 5.5 from the Banking Royal Commission refers to the Sedgewick Review (a 2017 report on retail banking remuneration) and has suggested you consider recommendations from both the Banking Royal Commission and Sedgewick Review while preparing your report.

https://www.royalcommission.gov.au/sites/default/files/2019-02/fsrc-volume-1-final-report.pdf

 

While many of the recommendations relate to regulatory changes, this is not an area of focus in this assignment. Your task is to specifically address the issues/changes required relating to performance and reward within the organisation.

Your report should focus on performance and reward practices for bank staff not brokers or other 3rd parties.

Your report should address the following areas:

Definition of the problem. What problems did the Royal Commission highlight? Make sure to state the problem specifically – what standard or expectation has been breached? Are there particular processes in which the problem lies? Be careful to identify the root cause of the problem, not just the symptoms!

Analysis. Using information from relevant sources and appropriate theories/frameworks, analyse the issue.

Solutions. Identify one initiative related to performance management and one initiative related to reward for the organisation to implement to address the problem/s. Your response should explain why these recommendations should be prioritised and how this will be operationalised.

Critique/Evaluation. Evaluate the recommendations relative to the organisation’s goal. Are there any risks/limitations of the solutions you have proposed?

The report requires

 

Required sections – your report should include these headings

 

Suggested length

 

Included in word count?

 

Executive summary

 

300 words

 

No

 

Definition of the problem

 

300 words

 

Yes

 

Analysis

 

400 words

 

Yes

 

Solutions & implementation plan

 

900 words

 

Yes

 

Critique/evaluation

 

400 words

 

Yes

 

Reference List

 

As required

 

No

Master Homework
Order Now And Get A 20% Discount!
Pages (550 words)
Approximate price: -

Advantages of using our writing services

Custom Writing From Scratch

All our custom papers are written by qualified writers according to your instructions, thus evading any case of plagiarism. Our team consists of native writers from the USA, Canada, and the Uk, making it convenient for us to find the best to handle your order.

Unlimited Free Revisions

If you feel your paper didn't meet all your requirements, we won't stop till it's perfect. You're entitled to request a free revision within 7 days after we submit your paper.

Quality Writing In Any Format

If you have issues with citing sources and referencing, you need not worry. Our writers are highly knowledgeable in referencing, including APA/MLA/Havard/Chicago/Turabian and all other formatting styles.

Fast Delivery And Adherence To The Deadline

All our custom papers are delivered on time, even the most urgent. If we need more time to perfect your paper, we may contact you via email or phone regarding the deadline extension.

Originality & Security

At Master Homework, your security and privacy is our greatest concern. For this reason, we never share your personal information with third parties. We use several writing tools to ensure your paper is original and free from plagiarism.

24/7 Customer Support

Our agents are online 24 hours a day, 7 days a week, and are always ready to serve you. Feel free to contact us through email or talk to our live agents whenever you need assistance with your order.

Try it now!

Calculate the price of your order

We'll send you the first draft for approval by at
Total price:
$0.00

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.

Our Services

We work nonstop to see the best client experience.

Pricing

Flexible Pricing

We offer pocket-friendly prices that coincide with the preferred client's deadline.

Communication

Admission help & Client-Writer Contact

Our support team is always ready to ensure vital interaction between you and the writer whenever you need to elaborate on something.

Deadlines

Paper Submission

We deliver our papers early within the stipulated deadlines. We are glad to help you if there should be an occurrence of any alterations required.

Reviews

Customer Feedback

Your review, positive or negative, is of great concern to us and we take it very seriously. We are, consequently adjusting our policies to ensure the best customer/writer experience.