Performance Management Systems And Compensation

A Study on the Performance Management System with special reference to Reliance Retail Limited Bangalore

A Performance-Based Pay system is an increasingly popular compensation method used by organizations to increase productivity. A goal for all companies is to try and remain competitive and control costs, this is a reason for performance-based pay systems becoming more popular. This type of system attempts to link compensation to performance. (Gena Richter, 2002) These systems are directly tied to organization or individual performance and are most effective when based on objective measures of quantity or quality of performance. If we wish to have a direct impact on work motivation, it must be linked directly to the performance of desired behaviors. In order for to put this type of system into place, performance evaluations must be conducted regularly , as well as training and development for those with performance that isn't quite up to par. These additional resources will be necessary for our organization if we implement a performance based pay system. (William B. Bernathy, Ph. D., 2004)

* Plan: need to clearly identify what performance is required and how it will be measured

The Pay for Performance incentive program is a new program being implemented across the United States to measure the quality of care within health care organizations. There are both positive and negative aspects of the Pay for Performance program that are based on information received from organizations who have implemented the program within their organization. The regulations the Federal Government has developed requirements for hospitals who serve Medicare patients as well as establishing four metrics that are used to measure the quality of the employee. Employees who work at an organization are given the opportunity to opt out of the Pay for Performance incentive program. This gives the employee the ability to make decisions on their income potential. Pay for Performance is a new aspect of the health care industry and will be used within the industry to measure quality of employees for the foreseeable future.

Performance criteria and goals are best established by combining the values and norms of each local environment with the home-office’s performance standards. An individual country profile should be developed and should take into account the foreign subsidiary’s environment. This profile should be used to review any factors that may have an effect on the expatriate employee’s performance. Such factors include language, culture, politics, labor relations, economy, government, control, and communication.

Using the concepts of performance management and organizational goals, develop an argument regarding the relationship between the two (2) concepts. Be sure to include discussion regarding the impact of one to another and the challenges presented.

What knowledge, skills, and abilities are needed to perform the job of working in a customer service call center?

Performance management system is critical in strengthening employer expectations. Study will be made to identify how strong performance management system impacts key HR processes viz compensation and benefits, training and development, recruitment and selection.

Human Resource Mangers should focus on “generating employee commitment and engagement” (Banfield & Kay 2012 p.12). As the CEO of North-Tech it should be one of your priorities to understand the correlation between staff productivity and their job enjoyment. With these numbers of turnover and absenteeism being higher than average, it would be rational to look at how to eradicate the issues we have here, before looking at outsourcing to a different country. Companies that decide to outsource consent to an outside company for them to take on obligations and responsibilities for certain sectors of their organization. Before this company makes a decision on outsourcing 10 percent of the staff positions to India, there are a number of

1. Two Purposes of Performance Management and its relationships to business objectives. Performance management is a repetitive process, established by organisations to help them in accomplishing their objectives (goals, as listed in the organisation’s vision) by maximizing the performance of an individual, team or whole organisation and ensure that the objectives are achieved. 1 The Performance Management Process is a key component of organisation’s overall approach to the management of its people. As part of the performance management system, Performance Management Process aims to achieve the following: To enable an individual

(Although main object of this research is organisational performance management system, aspects of individual performance will be considered where appropriate.)

Reuters states that the declining in global economy and maintaining cost efficiency would not prevent companies to implement the international assignment i.e. sending employees overseas. The article addresses this issue and shows the cultural characteristics and values of United States.

The research that will be conducted will be cut short by time constraints set by the submission date. Therefore not all Performance and Reward Management tools available will be evaluated. The author’s limited linguistic skills will also hamper the report.

The definition of the term ‘performance management’ varies in different literatures. As Hutchinson(2013) summed up, combined with Den Harton’s theory(2004), it is a continuous process which links individual and team objectives with organizational goals by measure and improve employee’s skill and performance. According to Armstrong (2012), human resource management aims at making sure the organization has the most talented, skilled and engaged people in order to attain its goals. In this context, performance management is one staple practice helping managers identifying and retaining most competent employees as well as correcting poor performance.

This research paper is based on the cultural barriers which hinders employee performance to a great extent. Staffing is one of the biggest issue one faces in the global market. Companies today strive to diversify their workforce as much as possible by hiring employees from various backgrounds. There are three main staffing strategies a company can implement when entering an overseas market, with each having its advantages and disadvantages. The first strategy is a home-country national strategy. This staffing strategy uses employees from the home country to live and work in the country. These individuals are called expatriates. The second staffing strategy is a host-country national strategy, which means to employ people who were born in the country in which the business is operating. Finally, a third-country national strategy means to employee people from an entirely different country from the home country and host country.