Essay about 3prm

937 Words Apr 21st, 2015 4 Pages
3PRM - SUPPORTING GOOD PRACTICE IN PERFORMANCE AND REWARD MANAGEMENT

Activity 1

Explain at least 2 purposes of performance management and its relationship to business objectives.

The performance management process is a key component of an organisation overall approach to the management of its people. As part of the performance management system, performance management aims to achieve the following:

* To enable an individual to know exactly what is expected of them i.e. agreed objectives and appropriate behaviors.
* To enable an individual to identify and meet personal development needs.
* To enable the organisation to audit the capabilities of its staff.

The purpose of performance management is to ensure
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Identify 2 purposes of reward within a performance management system.

The main purpose of reward within a performance management system are to retain, motivate employees and reduce turnover.

Describe at least 3 components of a total reward system, 1 of which should be non financial.

Some components of reward systems are:

Individual growth which can be investing in people, learning opportunities through training programs and career opportunities through new jobs and promotion.

Total pay which can be a form of statement of total reward which can include: salary, variable pay, additional benefits and performance related pay.

Worklife which can be workplace flexibility, paid and unpaid leave, health and well-being, caring for dependants, financial support and community involvement.

Explain the factors that should be considered when managing good and poor performance.

When managing an employee performance we must have in consideration the following factors:

SMART objectives, their behavioral patterns and a good source of evidence.

Specific
Measurable
Agreed
Realistic
Time

Describe at least 2 items of data, including 1 external to the organisation.

Gathering performance information from a variety of sources increases objectivity and ensures all factors impacting performance are considered. This information should include objective data like sales reports, call records or deadline reports.…

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