Table of Contents INTRODUCTION...........................................................................................................................3 LO 1.................................................................................................................................................3 Summarisetheorganizationalpoliciesandproceduresinyourorganizationthataffect remuneration strategies..............................................................................................................3 LO 2.................................................................................................................................................4 2A Strategic and operational plans of the organization and scope of remuneration and benefits plan-...............................................................................................................................4 2Bcurrentpractice,recentdevelopments,andthelegislativeparametersforyour remuneration strategy.................................................................................................................4 2 C Develop different options that are ready for consideration by relevant managers...............5 2 D Describe how these options link to the achievement of organizational goals.....................5 2 E How will this remuneration plan ensure that the organization's image as an employer of choice and encourage it to be regarded as a desirable place to work?........................................6 CONCLUSION................................................................................................................................6 REFERENCES................................................................................................................................8
INTRODUCTION Human resource management is concerned with managing of people in a company as it help them gain a advantage over their competitors and to observe the performance of their employees so that they can maximize it in order to achieve the objectives of an organization. HR department covers matters such as recruitment and selection, training and development, giving rewards for their performance and managing payroll of employees. Purpose of this department is to make sure that a organization achieves success in operation through their workforce. This department also concerns cases which addresses to harassment or discrimination on the basis of race and gender. HR department gives benefits to their employees such as parental leave or maternal leave, discounts and vacation package. It helps in developing the employer employee relationship. They motivate employees by giving reward or performance appraisal, they are responsible for putting a team together in an organization to achieve its objectives (Brewster, 2017). Margaret House started Bounce fitness in 2001, when they started they used to provide facilities only for aerobics but now over the years they have grown vastly into four centres Cairns, Sydney, Brisbane and Perth with their head office located in Cairns. They believe in one stop shop which means they provide most facilities under one roof. They also provide personal training to customers at their places. They provides healthy and low calorie drinks and food at their own cafeteria. They also operate in retail stores which deals in selling fitness items such as clothes, shoes etc. Bounce Fitness is a premier provider of fitness situated in Australia. LO 1 Summarisetheorganizationalpoliciesandproceduresinyourorganizationthataffect remuneration strategies. This policy relates to salaries, timekeeping, remuneration schedules and method of their payments with the help of their policies Bounce Fitness assure their employees that they gets timely payment of salaries and wages so that it does not affect remuneration policies. These policies also ensure that companies should keep federal, state and local laws that concerns to facilities like Medicare, social and security and labor norms. This helps Bounce Fitness avoid penalties. This procedure also support the budget department that also implements to structures and systems. There are deadlines of these policies which if not fulfilled which affect the organization.
Special staff is assigned to access information and make changes accordingly of these policies. So managers must complete the documents before deadline. Employees must take a look in their deductions and if they does not match to their expectations they should take it to the HR department and keep the information up to date. The security which leads to affect remuneration policies must never be compromised HR department should lock access to cabinets the data which is kept in computers must not located in common areas it should be hidden deep safely and secured. All access to documents and files on computer must be strictly observed. Any errors should be cleared and be addressed by supervisors to protect the processes and to measure gaps in security so that it does not affect the remuneration policies. (Cascio, 2015.) LO 2 2.1 Relevant legislations, regulations and standards that affect remuneration strategies. As per remuneration and allowances act 1990, the national minimum wage will be$719.20 per week, for a 38-hour week, or $18.93 per hour. The fair act 2009 also governs the pay which is being given to employees. This act makes sure that equal pay is being given to workers who are workingonsamelevel.Theyprovideasafetynetofminimumentitlements,enable flexibleworkingarrangementsandfairnessatworkandpreventdiscriminationagainst employees. 2A Strategic and operational plans of the organization and scope of remuneration and benefits plan- Mission- The mission of Bounce Fitness is to serve their clients with unique and different health programs. The team puts focus on preventive measures and improving the quality of their machines and equipment. The mission they have will fulfill the needs of their clients and will help them increase their profit share. Vision- The vision of Bounce Fitness is that they believe in the evolution of personnel and resources they are committed to their role as providing services by being a premier provider and they will develop programs and services for all. (Chelladurai and Kerwin, 2018). Core values- The team of Bounce fitness believes in building trust with their members by being ethical, honest and playing by the rules, they believe in consistency. Objectives-Toincreasetheclientsoffirmby30%tilltheendofyear2020. To enhance the profitability by 10% in upcoming 6 months (Noe and et.al.,2015.) Remuneration benefits plan-
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Bounce Fitness gives benefits to their employees like the cover insurance benefits, retirement benefits, free evening snacks and lunch for employees they also get gym membership and their products at 30 per cent discount. Bounce fitness also offers employee assistance program to their employees. They also give discounts from buying on their cafeteria and on buying goods from their retail stores. (DeCenzo, Robbins, and Verhulst, 2016.) 2 B current practice, recent developments, and the legislative parameters for your remuneration strategy. Bounce fitness follows every law like its competitors they have norms against workplace bullying, adoption and shared parental leave.(Noe, and et.al., 2017.)They train their staff to know and catch workplace bullying, if there is any and then follow the rules and guidelines, they train their personnel to implement new guidelines. They rewrite the guidelines on the basis of behaviour of employees, they have policies to handle it and report it. They have policies to follow like mandatory working hours, responsibilities of the personnel, knowledge and skills eligible for the job. According to the market rate Bounce Fitness gives salary to their employees like their gym manager gets AU$ 50k, personal trainer gets AU$46k, general manager gets AU$69k. People today maintains a lifestyle which includes fitness. Be it a celebrity or a common man both wants to stay fit which increases the scope of business and remuneration for the employees who are in the line of a fitness. Two Copy of assessorshttps://www.ideafit.com/fitness-library/fitness-salary- 2006www.glassdoor.com/Overview/Working-at-Bounce-Fitness-EI_IE1364007.11,25.htm 2 C Develop different options that are ready for consideration by relevant managers A good salary plan gives an employee a feeling of prestige and boost their morale so that perform more easily and efficiently according to their full potential and that will lead to a good management system without a good packagethey will start thinking that this work isn't worth it. Bounce Fitness follows every law like federal, state and local and if it doesn't follow them that will affect the policies made by them and will affect the remuneration policies Bounce Fitness also gives Fringe benefits tax as they give incentives to their employees on the basis of their performance and some incentives are not covered under it like living away from home allowances and that exempts it. This tax is paid exclusive of income tax which counts as a expense for the company providing incentives also is a expense for the company as they include services like cash
bonuses, health and medicare, social and security, insurance and labour policies this is how they apply to the company's remuneration policies.(Sparrow, Brewster, and Chung, 2016.) 2 D Describe how these options link to the achievement of organizational goals. To achieve organizational objectives employees should work thinking of company as first then for himself. They should understand the goals of an organization clearly. To achieve it business objectives must be communicated clearly in the organization as it will help in speeding up the process . Managers helps to set goals for every concerned department which helps to attain the(Cascio, 2015)objectives of the business. They should communicate their staff regularly to teach them how to do the work by allowing them to enter and see the goals of every department it will help in reduction of conflicts in the team as they will work according to their goal and under their department. Sometimes they share the goal giving support to each other or to identify if someone in the team is working against them. Bounce fitness promotes team building as more people working together will achieve more goals in the organization. Keeping things like proper communication, a good remuneration package and managing and training the employees properly will help achieve organizational objectives.(Berman and et.al,2019.) 2 E How will this remuneration plan ensure that the organization's image as an employer of choice and encourage it to be regarded as a desirable place to work? A good remuneration plan ensures the that an existing employee will be working for a long time without having any second thoughts and that applies in the case of Bounce Fitness their employees believes in consistency as the salary package is good, working hours are flexible and that does not gives thoughts like leaving this and joining other organization. A good salary package also creates a desire among many people to encourage and work for the organization and that creates a desire to be a part of this firm. It also helps in creating fair goodwill in the minds of people and in the market. People who want to work in fitness industry have a desire to be a part of Bounce Fitness as it will evolve them and it offers every single requirements that a employee seeks while finding and applying for a work. This all helps to start a good word of mouth in the market which helps in bringing more customers and more customers bring more profitability to the firm. When you offer a good salary package you will attract more qualified people which will automatically increase the quality of your personnel. It creates alignment within all levels of
Bounce Fitness. It does not let loose the interest of employer or employee these all elements helps in improving reputation. CONCLUSION From the above studies it has been concluded that HR department takes the process of recruiting, selecting and training the employees in order to achieve objectives of the organization. They give rewards on the basis of performance and performance appraisal to employees. Bounce Fitness started as small firm but has expanded up to 4 centres, once domestic market is completed they want to expand and make their way into entering another countries which will offer the company a huge market to serve. They have suitable marketing strategies to target its neighbor countries but for new countries they need to develop their marketing strategies which help them to gather a healthy market share in international markets as they offer good and decent remuneration packages they have a goodwill in the market which will make it easy for them to enter into Asian countries like India get customers. People already have a desire to work for them and get a handsome package and they also provide services like insurance, Medicare, labour norms and employee assistance program .
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