HRM2602 Assignment 2 Semester 1 2023

HRM2602 Assignment 2 Semester 1 2023 Answers, guidelines, workings and references............................................. Question 1 Read the following scenario and answer questions 1.1 to 1.3. CBC Bank has 100 banks in South Africa countrywide and employs 2 000 employees. Six months ago, you were hired as the new HR manager in CBC Bank. You have hired and trained several new employees in the administrative departments and bank clerks from different race and gender groups. The job for financial advisors was recently evaluated and the pay system was revised. During your visits to the banks countrywide, employees have complained about the lack of consistency in the way line managers conduct training and development needs analysis, identify employees for managerial promotions, and the reward systems are not commensurate to their work output. As the HR manager, you HRM2602/1/2023 ASSIGNMENT 02 5 embark on addressing these issues with top leadership and line managers in different banks on the backdrop of shaping people strategies in the fourth industrial revolution. 1.1 During the management meeting as the HR manager, you emphasise the need to link the training and development efforts to the goals and objectives of the company. Explain to management the training plan required to execute this process successfully. (8) 1.2 As the HR manager, during the strategy meeting with CBC Bank management outline the key requirements on shaping people strategies in the fourth industrial revolution. (12) 1.3 Following the approval of lecture training for 100 bank clerks explain to the management team how you plan to evaluate the effectiveness of this method of training. (5) Total: [25] Question 2 Read the scenario in question 1 again and answer the following questions: 2.1 Outline the pay system suitable to motivate and retain bank clerk employees working at CBC Bank. (10) 2.2 “Employees expect that organisations recognise and reward hard work and superior performance. Therefore, bank clerks would set higher levels of performance, expecting higher levels of compensation.” Briefly discuss the steps the HR specialist should take to maximise employee performance as motivated by CBC Bank. (6) 2.3 As the HR remuneration specialist for CBC Bank, indicate which type of incentive plan would be most appropriate for the positions of an administrative clerk, a financial advisor and the chief executive officer (CEO) and whether an incentive plan would be viable for each of these positions. (9) Total: [25]