Reward Management (RMT) Assessment Template

Reward management (RMT) assessment template
l壱Reward management practices – briefing paper
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·INTRODUCTION:
Reward Management can be concerned with wide factors of formulation and
implementation of best HR strategies and policies within company producing wide
range of reward system where aim is to reward people fairly and to motivate for
higher performance levels . The report explains Tesco company reward management
system with strategic alliance, rewards analysis and how HR managers aim to
achieve equity, fairness of reward policies and practices within employees for higher
growth and business development onto higher yielding synergy factors.
Strategic analysis
The strategic alliance is highly important for gaining access onto internal and
external factors which are impacting functional strength within management and
among HR policies to reward now and within future for higher working structure.
Internal analysis of Tesco can be analysed with swot analysis which can be analysed
as follows:
Strengths
l壱Tesco has high goodwill among consumer market with its large number of stores,
high quality products and work efficiency for bringing on innovation among
products for higher growth and goodwill composition. This factors of diverse range
of products, services have enabled to leverage onto higher synergy within global
business arena (Perkins and Jones, 2020)

l弐Tesco also has high capital business framework where it has successfully ventured
into untapped countries market and also productively established high range of stores,
online products range and services within global business scenario.
Weaknesses:
l壱Tesco faces competition from new brands and companies coming within UK
retail industry and also factored innovation, with new customer preferences products
which has been also giving strong competition externally for occupying new position
among industry.
Opportunities:
l壱Tesco has business expansion opportunities for expansion into untapped countries
business market where there are wide factors of growth available and also wide
innovation procedures available with new investment opportunities which will enable
to develop new customer segments goodwill.
Threats:
l壱Tesco faces threat of less competent management within business departments in
company where aim is to factor on reach higher skilled synergy goals and also
potentially work on training, motivational metrics by improving reward management
system in present and future (Armstrong and Taylor, 2020)
Theses are the internal analysis parameters which will impact company
approaches to reward management and employees within future as well as at present
for gaining higher efficiency working goals, new motivation parameters and also
potentially enhance creative work paradigms. Internal factors such as management
goals and working scenarios are highly important to gain analysis of how are the
impacts worked on such as employees working motivation and financial scenarios
working within at present will enable to generate stronger work goals. Tesco
approaches such as functional motivation factors for gaining analysis of how further
exploration goals work on and to generate new determinants where strengths are more
competitively developed.
External analysis (pestle analysis)
l壱Political factors: Tesco within this parameter faces risk for exporting its products
and services onto Europe countries where Bexit has imposed various new higher taxes

and increased tariff rates which will impact company services within higher context
in global business position.
l弐Economic factors: Tesco economically need to also focus onto working within
changing economic parameters within various economic situations, and also for
analysing how further work extension can be gained onto working within new
functional approaches.
l参Social factors: Changing customer preferences is one of the most important
parameter where higher strength shall be governed within external changing business
paradigms, to yield onto higher goals of new profit levels and working parameters
with innovation
l四Technological factors: Retail industry is actively exploding and bringing on
various technological factors where there are various business opportunities of
working onto new changing business demands, where new relative factors of
technical efficiency are highly present competitively impacting Tesco.
l伍Legal factors: Tesco shall also aim to utilise new functional paradigms widely
changing within legal parameters within various new companies onto which new
goals are present, which legally also may impact competitively efficiency levels.
l六Environment factors: Tesco also has to focus onto changing environment factors
where resources shall be used worth fully for gaining stronger goals and higher brand
value within consumer ends parameters (Fenech, Baguant and Ivanov, 2019)
External factors enable us to analyse how various external factors work competition
business goals impact employees management work goals, horizons where reward
management shall work on for gaining stronger results within future parameters.
l壱Reward intelligence
Reward intelligence can be understood as best practise to ensure compensation
decisions are well practiced by HR within company for gaining trust and higher
strength commitment within various framework for enhanced services and
presentable working scenario. The main aim is to establish policies and well
documented data preparation which will benefit for both company and candidates for
long term time period. There are extrinsic and intrinsic rewards, performance based

rewards which are based on various metrics encompassing vision and goals for
stronger work results, higher work synergy of actions and stringent work innovation
on continuous efficiency goals for reaching onto wider avenues. Reward intelligence
holds high important among Tesco company operations to motivate employees and
to focus on major aspects where their competencies are reward by management
(Perkins and Jones, 2020).
l壱Reward intelligence within Tesco is highly important to generate information by
monitoring employees performance levels onto various parameters where higher
order target completion shall be given appraisal and work recognition for generating
morale development. The use of reward intelligence can be understood as one of the
most crucial fundamental aspect where HR manger at tesco aims to yield onto factors
focusing onto documentation of information, work records of all employees.
l弐This is beneficial for employees as well as company business performance goals
for gaining wider synergy of positive actions where there are high appraisals in
motivation factors and development within new arenas of actions. Tesco can develop
reward intelligence to be one of the most important factor encompassing vision,
functional advancement within vision progression and also for yielding onto wider
goals which transforms potentialities and new profitability aspects onto long term.
Decision making of rewards is done by analysing how much factorisation of
continuous efficiency is built among department goals, working for productive
relative functional innovation and also keenly working onto objectives where
company can resource smart and young talents (Li, Rees and Branine, 2019)
l参Total reward
Total rewards can be understood as one of the most important strategy which
HR managers take within companies where all investments which company makes
within workforce examples such as pensions, learning and training development are
included.
·Employees value in working for company such as parameters of flexible working
conditions and career opportunities are included onto which tesco pays wide focus
onto employees functional ethics for reaching onto higher avenues and new working
actions which enhances business performance goals. Total rewards encompasses