Managing Remuneration Rewards and Benefits

Running head: MANAGING REMUNERATION REWARDS AND BENEFITS
Managing Remuneration Rewards and Benefits
Name of the Student
Name of the University
Author Note

MANAGING REMUNERATION REWARDS AND BENEFITS1
1. Understanding the Existing Statutory Award’s Suitability for
Supporting the Growth and Establishment of CUAP
The CUAP is going to comprise for four important parts or divisions namely sales, claims,
adjusters and professional services. The existing statutory award as made available by the
government of Australia is suitable for supporting the growth and the establishment of CUAP as
it covers all individuals who are connected to the organization by contract, who do not fall in the
category of high income employees and who are therefore entitled to increase in pay, or at the
very least the minimum wages, incentive based bonuses and payments, overtime dues in the
event that employees work overtime, and statutory superannuation contributions. Those who
work as part of the sales, claims, adjusters and professional services of the CUAP are all hired
under contract, are all entitled to the minimum wages, they all have the right to get paid to an
extra amount of money if they engage in overtime work and they have the right to incentive
based bonuses and payments when seen to perform exceptional work or render their duties
exceptionally (Stuart, 2016). Such remuneration and rewards is certain to keep the employees of
the CUAP happy, content and motivated to do their jobs provided accompanying factors like a
positive work environment and good or motivational leadership is also present and which will
give them the boost they need to work to potential. As a result, the CUAP is certain to grow and
expand well enough, with every passing day.
2. Understanding how to Address the Gender Pay Gap
The gender pay gap in Australia is calculated by a special institution that has been set up for
this purpose and which is known as Workplace Gender Quality Agency. This agency makes use

MANAGING REMUNERATION REWARDS AND BENEFITS2
of data that is acquired from the Bureau of Statistics in Australia to assess the pay of men and
women in a registered business organization in Australia and to locate the gender pay gap, if it is
found to exist at all. In the event that there is a gender pay gap, the CUAP which is now being set
up will address the pay gap by first making sure that the pay of male employees and the pay of
female employees as well as the pay of transgender or third gender employees are all at par,
based of course on the type of positions that they are recruited into (Shields et al., 2015). People
recruited into similar or identical positions will get the same amount of remuneration and there
will be no discrepancy in the remuneration of male, female and third gender employees.
Remuneration will be rewarded on the basis of talent, skills and the nature of work that the
employees will be carrying out for the organization as part of the CUAP or CGI retail, and no
differences will exist in terms of salary on the grounds of gender or sexual orientation. Members
of all genders will be entitled to equal pay and equal bonuses and incentives (Perkins et al.,
2016).
3. Using the Total Reward Model of Armstrong to Identify Rewards that
will be used in the CUAP Remuneration Plan
The total reward model as propounded by Armstrong is one that is made of six important
components. These are benefits, compensation, work life effectiveness, talent development,
performance management and recognition. Together, all of these components collectively define
the strategy of an organization to motivate, attract, retain as well as engage its employees
(Armstrong & Murlis, 2007). The CUAP remuneration plan should provide compensation on the
higher side or at least the minimum wages expected by employees to keep them motivated and
content, benefits like bonuses and incentives for extra work must be introduced as part of the