HRM3705 Assignment 3 Semester 2 2024 | Due 17 September 2024
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Course
Remuneration Management (HRM3705)
Institution
University Of South Africa (Unisa)
Book
Remuneration Management
HRM3705 Assignment 3 Semester 2 2024 | Due 17 September 2024. All Questions Answered.
Question 1
1. Complete the question by following the steps below.
Step 1: Search the internet using any search engine (e.g., Google) to find information about
current challenges in remuneration manag...
HRM2603 ASSESSMENT 6 SEMESTER 1 2024 Consult the internet and download the remuneration report of an organisation of your choice (e.g. FNB). Study this report and answer the following questions. 1.1...
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Question 1
1. Complete the question by following the steps below.
Step 1: Search the internet using any search engine (e.g., Google) to find information about
current challenges in remuneration management that organisations are encountering in the
21st-century world of work.
Step 2: Identify the most significant challenge (only one) organisations currently face
regarding remuneration management.
Step 3: Summarise the information you found in your own words by addressing the
following:
A) Identify the remuneration management challenge.
B) Discuss the challenge in your own words.
C) Link this challenge to one of the factors influencing remuneration.
D) Explain the potential implications of this challenge on an organisation's remuneration
strategy .
Step 4: Provide suggestions from an HR perspective on how organisations can mitigate or
reduce this remuneration management challenge.
Step 5: In this step, you need to provide the following as proof of your search:
A screenshot, snippet or photo of the website you consulted and the date you accessed the
website (1 mark).
The URL (link) to the website.
Reference your sources and include them in a reference list.
Step 3: Current Challenges in Remuneration Management
A) Remuneration Management Challenge: The most significant challenge organizations
currently face in remuneration management is pay equity, which refers to ensuring that employees
are compensated fairly regardless of gender, race, or other demographic factors.
B) Discussion of the Challenge: Pay equity has become a central issue in the 21st-century
workplace. Organizations face growing pressure from employees, governments, and stakeholders
to ensure that they eliminate discriminatory pay practices. This challenge arises from historical
inequalities, where certain groups have been systematically underpaid compared to others.
Addressing this issue involves reviewing pay structures, conducting pay audits, and implementing
strategies to close pay gaps. Failure to ensure pay equity can lead to dissatisfaction, legal disputes,
and damage to an organization's reputation.
C) Link to Factors Influencing Remuneration: Pay equity is linked to legal and social factors
influencing remuneration. Legislation such as the Equal Pay Act and societal movements
advocating for gender and racial equality push organizations to review and adjust their
remuneration practices. Social pressure, particularly in the context of increased transparency and
movements like #MeToo, compels businesses to address wage disparities proactively.
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