Supporting Good Practice in Managing Employment Relations
Supporting Good Practice in Performance & Reward Management
This assignment explains good practice in performance and reward management.
There are many purposes of performance management. Some of these are: * It helps to motivate employees * It helps to set clear goals and targets * It helps employees perform at a higher standard
Performance management relates to business objectives as business targets and objectives can be linked into targets set for employees. If these targets are continually being set and employees are high performers this will in turn mean the business meets its targets.
Performance management has many components, such as: * Regular review meetings – meetings held, weekly/monthly/bi-monthly to review the performance and work that an employee is carrying out. These are usually held by managers and the relevant employee on a one to one basis. * Setting objectives – looking at what an employee needs to do/achieve over a set timescale such as selling a certain amount of items or completing a project. * Career development – looking at ways of helping an employee develop their career, such as secondments to different teams or roles or extra training etc. * Performance appraisals – looking back at the previous 6 months and then looking ahead for 6 months and setting targets and objectives for employees. * Performance related pay – when an employee hits a target or they have performed well over the year they can be rewarded by receiving a payment. * 360° feedback – feedback from co-workers, managers and customers that is fed-back anonymously, collated and then given to the employee it relates to. It helps the person feeding back the information collected to give constructive feedback that is relevant.
Performance management relies on employees being motivated to be high performers. If staff feel motivated to achieve the goals set, their performance is
This assignment explains good practice in performance and reward management.
There are many purposes of performance management. Some of these are: * It helps to motivate employees * It helps to set clear goals and targets * It helps employees perform at a higher standard
Performance management relates to business objectives as business targets and objectives can be linked into targets set for employees. If these targets are continually being set and employees are high performers this will in turn mean the business meets its targets.
Performance management has many components, such as: * Regular review meetings – meetings held, weekly/monthly/bi-monthly to review the performance and work that an employee is carrying out. These are usually held by managers and the relevant employee on a one to one basis. * Setting objectives – looking at what an employee needs to do/achieve over a set timescale such as selling a certain amount of items or completing a project. * Career development – looking at ways of helping an employee develop their career, such as secondments to different teams or roles or extra training etc. * Performance appraisals – looking back at the previous 6 months and then looking ahead for 6 months and setting targets and objectives for employees. * Performance related pay – when an employee hits a target or they have performed well over the year they can be rewarded by receiving a payment. * 360° feedback – feedback from co-workers, managers and customers that is fed-back anonymously, collated and then given to the employee it relates to. It helps the person feeding back the information collected to give constructive feedback that is relevant.
Performance management relies on employees being motivated to be high performers. If staff feel motivated to achieve the goals set, their performance is