Advantages And Disadvantages Of Spos

Reward, whether it is financial (in terms of a monetary bonus) or simply praise and the recognition of success, will positively impact levels of motivation within a team. For example, a sales team working towards a target, that if achieved will mean a financial bonus will be more motivated than a team without this incentive, especially if a high percentage of that team have money as a primary motivating factor. The effect of praise and recognition on staff will be a team that feels valued and appreciated by its organisation. This will help promote harmony and make for a stronger, healthier and a more motivated team. A team that is not praised and recognised will soon start to feel that their hard work is not appreciated.

The performance management system helps the company in identifying the employees who are not able to perform as per the expectations. Warnings can be given to these employees for improving their performance. Even after that they are not able to improve their performance; these employees can be terminated on the basis of performance. The organization keeps documentation about the performance of an employee. The company documents the performance in HR 's file. Employees in Organization are motivated and they value the structure of the company, its development and plan for growth. A motivated employee performs using full potential, which is good for both the organization and employee.

Recognizing employees for accomplishments such as finishing a major project, reaching sales targets or providing excellent customer service can be an important motivating factor. Set goals for workers to strive for and offer rewards for reaching them. This could be in the form of an employee of the month scheme, a bonus, or a promotion. Some companies conduct meetings where employees are recognised for good work in front of their colleagues. This can help motivate all the workers in the business to strive for success.

Performance management relates to an organization’s ability to implement a system to evaluate and advance employee performance. Achieving peak performance requires consistency, clear objectives, and constructive employee evaluation. According to Mithas, Ramasubbu, & Sambamurthy (2011), an organization must design the performance management system based on extensive research about the organization’s mission, and then properly communicate the purpose of the system to employees, stakeholders, and decision makers. After the performing the research, the information should be used to establish the appropriate performance management specialized for the organization. In addition, an effective performance management system should align

➢ The need to discipline employees is reduced because employee job performance meets customer expectations more often. This creates a more pleasant work environment for managers and their employees.

Pay and Rewards – pay and rewards attract, motivate and retain staff. The employment contract which lists rewards, whether it be pay, bonus or benefits, can remove animosity amongst employees and employers. However, recent research reveals that employees are no longer motivated by a financial reward alone, but

A motivated workforce can be a significant success when employees are motivated to work at a higher levels of productivity. Also this means the whole organization is more effective at reaching it’s goals. Rewards can be a positive outcome when it comes to boosting your organizations self-confidence and higher employee satisfaction. Having a reward system can always be a good outcomes because this shows how much your workers are willing to work to achieving a goal in order to receive something in return. This not only gets things done but brings out another side of your organizations as a whole.

As stated by Peter F. Drucker, “Management is about human beings. Its task is to make people capable of joint performance, to make their strengths effective and their weaknesses irrelevant.” Performance management is essential to achieving an organization 's mission statement and business goals, and also in attracting, retaining, and motivating qualified employees. There are many benefits and reasons why an organization should execute a performance management system. Performance appraisals establish the basis for qualifying, recognizing, and rewarding employee contributions. In this paper, I will discuss what performance management is, the problems with the current performance management system at my organization, how other organizations have succeeded in their performance management system and how I would advise management at my current organization to improve our performance management system.

Performance management is the process of planning work assignments, setting expectations, monitoring processes, rating performance, and rewarding performance. Performance management systems are used by organizations to identify, measure, and develop the performance of individuals and teams. The goal of an effective performance management system is to strategically align employee performance with company goals and objectives (Smither & London, 2009). In order to achieve optimal performance, organizations are tasked with implementing innovative solutions that ensure performance management systems that deliver real results and improve performance (MacMillan, 2015). Organizational leaders are responsible for understanding the performance management system in order to focus on employee efforts that will help in achieving both individual and organizational goals (Opm.gov). In this paper, the author will suggest the key processes that DSM needs to provide within its system in order to successfully link its key success factors (KSF). The author will select three drivers, and examine the central manner in which DSM management has aligned its business strategies to performance management. Lastly, the author will critique DSM’s competitive advantage by using three of the six assessment points outlined in the textbook.

Reward Management (RM) has been defined as the distribution of monetary and non-monetary rewards to employees in an effort to align the interests of the employees, the organisation, and its shareholders (O’Neil, 1998). In addition O’Neil (1998) also suggests that a RM system can serve the purpose of attracting prospective job applicants, retaining valuable employees, motivating employees, ensuring legal requirements relating to direct and indirect rewards are not violated, assisting the company in achieving human resource and business objectives, and ultimately assisting the organisation in obtaining a competitive advantage.

Reward and recognition programs must connect the needs and expectations of the workforce with the company’s overall goals and strategies. A program that reinforces important company values and goals will encourage employees to act in line with such goals and emphasize the importance of achieving these goals. Alternatively, rewards which do not connect with organizational goals may convey a misleading message and encourage employees to act in a manner that does not facilitate the

“Performance appraisals can enhance employee performance as well as advance the mission and goals of an organization. There are many advantages of performance appraisals if they are applied fairly, consistently and objectively. Performance appraisals not applied fairly can be counterproductive and even destructive to

In a typical and effective process of performance management, as demonstrated in Figure 2.1, performance appraisal is not the only but a vital element because it is the activity which evaluate the outcome of the work, recognize the achievement and weaknesses and give employees and managers a straightforward result on these(Armstrong, 2009, Hutchinson, 2013). From a modern perspective, performance appraisal covers more areas not only on what have been achieved but also on the attitude and contribution of the operator (Hutchinson, 2013), which enhance the functions of identifying training needs.

Companies Performance Management system need to concentrate on the overall improvement the way the company performs. They achieve this by managing the performances of all personnel within the company no matter who they may be. This can be attained by ensuring that everyone within the company truly understands what the overall mission and goals that have been set for them within the company. Performance Management system has a very distinct way that it can manage the performance of the entire company and as long as everyone understands the goals that the company sets forth than the company as a whole will meet those goals. The developmental objective is fulfilled by defining the training requirements of the employees based on the results of the reviews and diagnosis of the individual and organizational competencies. (MSG)

It is much easier to describe an ideal performance management system (PMS) than to implement one. Societal, cultural, practical, and organizational constraints may restrict an organization’s ability to implement all of the ideal PMS characteristics. This truth becomes especially apparent when comparing different countries such as China, Australia, and India. While each country has its challenges, PMS successes are possible by having a thorough understanding of existing constraints and capitalizing on the characteristics that come most naturally.