The reward environment and the key perspectives that inform reward decisions

Assess the context of the reward environment and the key perspectives that inform reward decisions. In this section you should: 1. Use an appropriate analysis tool to identify the internal and external factors. 2. Analyse the particular impact of business drivers and related factors on reward decisions.
You should use an appropriate tool e.g. SWOT or PESTLE to identify and assess the internal and external factors that impact on your organisation's reward policy. You should assess the impact of business drivers and other factors that inform reward decisions e.g. affordability, benchmarking against other organisations, market position, economic outlook etc.
Question AC 1.2 - Explain the most appropriate ways in which reward intelligence can be gathered and presented. 1. Give examples of different ways of gathering and presenting reward intelligence.
You should then identify different types of reward intelligence and explain how it is (1) gathered (e.g. reward and salary surveys, consultants. recruitment agencies, job advertisements, reward journals, market intelligence, sector analyses), and (2) presented.
Question AC 2.1 - Evaluate the principle of total rewards and its importance to reward strategy. Demonstrate your understanding of key reward principles and the implementation of reward policies and practices. In this section, you should: 1. Evaluate the principle of total rewards and its importance to reward strategy.