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Human Resource Management Performance Management

2895 words - 12 pages

The general overview of this assignment is to look at the Performance Management system of Company A which was introduced but failed due to isolation. During this assignment I will be looking into how the performance management system of Company A could be relaunched.I will be talking in detail about:Performance Management,Motivation within the company,Objective setting within the company,Appraisal and review,Reward management,I will be giving examples of performance management within my own company and how the performance management system is in place and how beneficial a performance management system can be within an organisation when implemented successfully.Introduction:The purpose of ...view middle of the document...

Its aim is to improve organisational effectiveness and add value by enhancing existing capabilities and building new ones.Performance Management is a flexible process not an annul event and can only be driven by management in general and individual managers in particular. This performance management style is operated effectively by the company is which I am employed by which will be referred to as Company B.It is a key responsibility of management to ensure the employees performance is improving. This can be integrated by implementing the following : Training and development of staff in the organisation, Performance reviews with each employee, Motivation of employee in its organisation, reward and payment relating to business objectives. This needs to be monitored by management and ensure improvement of employees in the organisation is successful. This can be done through performance reviews and training and development. By doing so Company A could have a positive and more successful experience of a Performance Management System if approached in the right way while relaunching the new system. The main starting point would be to restore all the employee's and managements confidence and understanding of having a successful Performance Management system implemented into their organisation.Motivation :Within the company I am employed by Company B motivation is a key element as it helps employees to reach their full potential. Performance Management can be used to value people and to provide for intrinsic motivation with teams as well as individuals. The reason motivation is so beneficial in organisational performance is it attracts the right calibre of people, directs employees towards achieving their personal and organisational goals and also has a long term perspective of HR, for example performance related pay, skill based pay etc. When considering Motivation there are two types of factors which company A needs to consider: Intrinsic Factors and Extrinsic Factors. Intrinsic Factors are those that exists within a person and are deeper and have a long term effect e.g. supervisory style, increased responsibility, challenging work and scope to develop new skills. In my work place matching key objectives to the right type of person develops Intrinsic Factors. Extrinsic Factors are tangible factors such as pay, promotion, disciplinary procedures etc. Whilst having a powerful effect these factors may only be short lived. Extrinsic factors are only effective if there is a worth while reward. In my work place we have a bonus scheme which is in place for all employees who achieve there monthly/yearly target. In my experience this is a good motivator as it gives employees the chance to reach their own goals and achieve job satisfaction. According to Linda Reidy, Human Resource Management (Pg 84) " Expectancy Theory predicts that workers are motivated by pay and other rewards only if the employee values these rewards. This is called valence. This theory...

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