The Link Between Performance and Reward Management

1061 Words Feb 3rd, 2018 4 Pages
As a result, the frameworks of this component are developed in order to enhance both individual and organizational performance. This is done through identifying performance needs, providing regular feedback, and helping individuals in their career development. Due to its link to individual and organizational performance, performance management is closely associated with organizational success, reward management, and employee motivation.
Two Purposes of Performance Management: As a holistic and collective procedure, performance management utilizes various elements in order to accomplish various purposes that are geared towards enhancing individual and organizational performance. Some of the two major purposes of performance management include enhancing individuals' abilities and constant communication of strategic goals. Through performance management, employees develop their ability to meet and exceed expectations to achieve their full potential. As a result of the enhanced abilities in their specific field of expertise, the individuals not only benefit themselves but they also benefit the organization. Secondly, performance management is used for the purpose of constant communication of strategic goals with operational…
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