Hi Diane.

It depends on what you want from the award. A level 5 is equivalent to an undergrad degree so gives you a wide, but shallow, coverage of the subject. A level 7 is equivalent to Master’s level so goes into more depth, but doesn’t give the breadth of knowledge.

Given how and where you are working at present, if it were me I would go for the level 5 for the more encompassing breadth of knowledge - you don’t need, or want, to be an expert in one particular area at present. I have a first degree and a Masters but this is what I did. ;)

In reply to Teresa:

Hi Diane and welcome to the forums.
Great to see you taking this route in the HR function. A wonderful personal opportunity.
I concur with Teresa's post. Thre is a wealth of technical knowledge to be acquired in level 5, across all the sub-functions of HR, that will stand you in good stead for years to come. The managerial and strategic vision you will have acquire in your existing role will certainly help to focus the use of the technical HR knowledge that level 5 will bring. Most people learn the knowledge first and then have to acquire a strategic distance/focus later....
Sure, it's possible to step up to the plate for level 7, and if your goal is the higher qualification as opposed to the broader knowledge, then that too is a valid route.
In your context of moving into an overall HR role in a group of compenies I would start with 5, even if doing 7 straight away is possible.