Explain the legislative requirements that impact reward practice

Explain the legislative requirements that impact reward practice. (ac 2.4)

Regardless of an organisation’s size and scope, legal requirements play an indispensable part in deciding on reward practices. These demands are the guarantee that employees are compensated equally for their effort and that their rewards are distributed transparently and fairly. Here are some key legislative requirements that impact reward practice:Here are some key legislative requirements that impact reward practice:
1. National Minimum Wage Act:
The National Minimum Wage Act is the law that governs the minimum hourly rate that employers must pay their employees. Its goal is to prevent exploitation and ensure that employees get paid fairly for their labor. Adhering to this instrument is important for organizations to avoid legal consequences and remain ethically sound based on the measures practiced in remuneration.
2. Equality Act 2010:
The provisions of Equality Act prohibit discrimination in the workplace on the grounds of protected characteristics, like gender, age, race, disability, and religion. This act mandates companies to follow the principles of equal opportunity and to be non-discriminatory. This means that rewards, including salaries, bonuses, and other benefits, should be derived from the objective criteria and not to be affected by unrelated factors.
3. Employment Rights Act 1996:
Under the Employment Rights Act, various rights and protections for employees are defined. These rights include the right for an employee to receive a written terms and conditions.This Act also covers redundancy pay, maternity and paternity leave, and flexible working arrangements. These measures must be implemented by the organisations to ensure the reward practices are in line with the law and employee well-being is promoted.
To comply with these legislative obligations, organizations regularly have to reassess and upgrade their reward policies and practices. They should put mechanisms in their reward system that are transparent, fair, and not discriminative. Continuous monitoring and research of rewards records will expose any probable problems and give organizations a chance to carry out any corrective measures to ensure compliance with the law.

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