Supporting Good Practice in Performance and Reward Management (3PRM)

2227 Words Oct 12th, 2014 9 Pages

Activity 1

1. Explain at least 2 purposes of performance management and its relationship to business objectives. 2. Identify 3 components of performance management systems.

3. Explain the relationship between motivation and performance management, referring to at least 2 motivational theories.

4. Identify 2 purposes of reward within a performance management system.

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

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

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

8. Explain the frequency, purpose, and process of performance review.

Performance management
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Work motivation: Stimulation of certain behaviours that needed to maintain and achieve business goals and objectives
Various motivators could affect each individual’s behaviour and performance. Each
Individuals gets motivated by intangible factors: contributing to the common good money, promotion other fair treatment and good work environment. Whatever is the case individual`s motivation affects their commitment to work and their work ethicattitude that is mainly influenced by the company`s management and work colleagues. Management should take all these factors under consideration and have to make sure that they create a perfect work environment that give space for all time of employee to contribute their best and feel valued within the organisation.
What are the benefits of motivated staff according to recent researches?

Companies could benefit of fewer absences at work
Highly motivate employees are deliver higher levels of performance
Employees willing contribute more when demand is high.

Employees stay loyal to their organisation that results low staff turnover
Better customer satisfaction- better customer retention

Researchers in the past have made valuable discovery about employee relations what is the cause of dissatisfaction and satisfaction at work. Companies that want to be successful in the long run should consider these result:
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