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RM system in HIRH and potential improvement
HIRH recognizes employees accordingly on the skills, experience and level of performance they bring to their role within HIRH. Remuneration reviews for the fixed pay component of an employee’s salary plus performance-based bonuses which is evaluated annually. However, a manager has the right to award the employee an interim bonus in order to acknowledge employee through gift certificates.
HIRH should recognize and reward loyalty to the organisation through five and ten years’ service awards. For example, Staff receive 3 months long service leave on completion of ten years service with the firm. HIRH, at its total discretion, may grant employees gratuities in respect of their exceptional achievements. 
Guest and colleagues (Guest 1999, 2002; Guest & Conway 1998, 2002; Guest & Peccei 2001) have identified the following set of practices as having the most positive influence on employee work attitudes and behaviour:
•  employee involvement programs
•  job security
•  job autonomy and challenge
•  training opportunities
•  single employment status
•  high pay
•  non-union workplace
•  systematic and open communication
The base framework of HIRH remuneration system can be digressed as two parts
• fixed pay component based on the growth of individuals over time within the organisation;
• variable pay component based on performance-linked bonuses.

As supplements to base pay, financial benefits may enhance the organisation’s ability to attract and retain high-value employees. Such benefits may also have particular taxation advantages over straight cash payments. This, in turn, may reinforce membership behaviour (i.e. attraction, retention and attendance), enhance employee well-being, work–life balance, job satisfaction and organisational commitment, and, albeit indirectly, improve work motivation and performance (Williams & MacDermid 1994). The provision of targeted non-financial benefits, such as childcare facilities, may also support diversity management and equal opportunity. Finally, the provision of some benefits is a matter of legal compliance. Obviously, the growth in mandatory benefits is attributable to new or additional legislative requirements.
Besides financial rewards, HIRH has also offered employees with non-financial fringe benefits together with leave and career benefits. According to one Australian study by Stone (2005), an employee with elder-care responsibilities loses on average three full working days per year, and a further four days are significantly disrupted.
In Australia, permanent full-time employees are entitled to take three months of leave on full pay after ten years of service and a further three months after fifteen years of service. Casual employees are now also eligible for long-service leave in Australia. In many other countries, there is no provision for long-service leave. HIRH should also offer employees to have three weeks leave after ten years of service.
On top of direct monetary benefits, HIRH should contribute a fixed percentage of earnings of employee in their superannuation package. Employees have their individual discretion to contribute more to the package.
On the other hand, most of working level employees’ payout is based on skill-based payout scheme. Skill-based pay origina本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。