Essay about 3prm3PRM - SUPPORTING GOOD PRACTICE IN PERFORMANCE AND REWARD MANAGEMENT
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 …show more content…
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.
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.…
3prm Cipd1546 Words | 7 Pages
1.2 Explain at least three components of performance management systems. 1. Setting objectives and performance standards. * The individual’s performance and development should be seen as a joint partnership between the line manager and the individual. Development of goals and objectives which are incorporated into individual job descriptions, person specification and work situation’s provide performance level criteria. * 2. Agree competences and competencies Managers need to ensure…