An analysis of your organisation’s external reward environment identifying the key reward management changes that are likely to occur in the coming year

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Answer Excerpt

The external reward environments are the external environments that affect xxxxxx designing the reward system in an organisation (Tatenda and Moment, 2014).  xxxxxx These external reward environments are political, xxxxxx legal, economic situation, competition, cultural factors, and labour markets.xxxxxxx

Government policies  

Government policies are the external government legal xxxxxx environments that influence the reward system in an organisation xxxxxxx (Tatenda and Moment, 2014). xxxxx Some of the legal factors xxxxxx that influence reward systems include tax policies.  xxxxxxGovernment imposes tax policies depending on the country, xxxxxxwhich should be considered when the human resource xxxxxxmanagement is designing a reward program (Tatenda and Moment, 2014). Another government legal issue that influences reward systems is compensation policies. xxxxxx Governments impose compensation policies to regulate compensation and rewards in all organisations for equality and fairness purposesxxxxx (Tatenda and Moment, 2014).xxxxxx  Governments also impose mandatory xxxxxx paid leaves for employees. For instance, in Australia, the legally mandated paid leave days are twenty, while in the US, they are fifteen xxxxxx (How to Reward expatriate Employees/Croner-i, 2019).  In the UK, legally mandated leave days are twenty-xxxxxx

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