Supporting Good Practice in Performance and Reward Management (3PRM)
INDEX
Activity 1
1. Explain at least 2 purposes of performance management and its relationship to business objectives. 2. Identify 3 components of performance management systems.
3. Explain the relationship between motivation and performance management, referring to at least 2 motivational theories.
4. Identify 2 purposes of reward within a performance management system.
5. Describe at least 3 components of a total reward system, 1 of which should be non financial.
6. Explain the factors that should be considered when managing good and poor performance.
7. Describe at least 2 items of data, including 1 external to the organisation.
8. Explain the frequency, purpose, and process of performance review.
1.1
Performance management is a process that reviews each employee` work against organisation standards and requirements. Companies serve 1. Employee/employer decision making and their 2. employee`s development throughout performance management. Whenever this system used for decision making then the appraisal meetings and their information could be used for promotions, salary increase or reduction in force. This advanced tool that information can be also used for employee development. It highlights training needs and gives guidance. By using performance management system companies can ensure that fairer decision making vs. development.
An organisation benefits as it put standards in place what the organisation sees what is expected and what is perceived. Treating employee employee`s fair increases the company ability to stay consistent and employees more like to stay loyal. Most of performance management systems based on a competency model. This system clearly defines required skills, knowledge, company standards on all levels, expected behaviours and objectives to achieve companies’ goals. Salary and training bandings give good understanding of the system that employees can clearly see what is expected from them to achieve for example higher salary.
Activity 1
1. Explain at least 2 purposes of performance management and its relationship to business objectives. 2. Identify 3 components of performance management systems.
3. Explain the relationship between motivation and performance management, referring to at least 2 motivational theories.
4. Identify 2 purposes of reward within a performance management system.
5. Describe at least 3 components of a total reward system, 1 of which should be non financial.
6. Explain the factors that should be considered when managing good and poor performance.
7. Describe at least 2 items of data, including 1 external to the organisation.
8. Explain the frequency, purpose, and process of performance review.
1.1
Performance management is a process that reviews each employee` work against organisation standards and requirements. Companies serve 1. Employee/employer decision making and their 2. employee`s development throughout performance management. Whenever this system used for decision making then the appraisal meetings and their information could be used for promotions, salary increase or reduction in force. This advanced tool that information can be also used for employee development. It highlights training needs and gives guidance. By using performance management system companies can ensure that fairer decision making vs. development.
An organisation benefits as it put standards in place what the organisation sees what is expected and what is perceived. Treating employee employee`s fair increases the company ability to stay consistent and employees more like to stay loyal. Most of performance management systems based on a competency model. This system clearly defines required skills, knowledge, company standards on all levels, expected behaviours and objectives to achieve companies’ goals. Salary and training bandings give good understanding of the system that employees can clearly see what is expected from them to achieve for example higher salary.
Bibliography: SHRM Foundation Executive Briefing- Kevin Hostler Management study guide: unknown http://www.managementstudyguide.com/ UVA performance management guide Maslow, A (1954). Motivation and personality. New York, NY: Harper. p. 236 TDS-Fredrick Helzberg Motivation Theory