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    Performance Management and Motivation

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    hamza
    1. Performance management is a process for establishing shared goals and understanding, and developing employees to achieve organizational goals in the short and long term. 2. Key components of performance management systems include goal setting, continuous feedback, performance evaluation, rewards and promotions, and talent management. 3. An integrated performance management system aligns goals with business strategy, links performance to employee development, and uses incentives and compensation to motivate continuous improvement.

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    Performance Management and Motivation

    Uploaded by

    hamza
    48 views13 pages
    1. Performance management is a process for establishing shared goals and understanding, and developing employees to achieve organizational goals in the short and long term. 2. Key components of performance management systems include goal setting, continuous feedback, performance evaluation, rewards and promotions, and talent management. 3. An integrated performance management system aligns goals with business strategy, links performance to employee development, and uses incentives and compensation to motivate continuous improvement.

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    Introduction to Performance management and motivation

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    1. Performance management is a process for establishing shared goals and understanding, and developing employees to achieve organizational goals in the short and long term. 2. Key components of performance management systems include goal setting, continuous feedback, performance evaluation, rewards and promotions, and talent management. 3. An integrated performance management system aligns goals with business strategy, links performance to employee development, and uses incentives and compensation to motivate continuous improvement.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    48 views13 pages

    Performance Management and Motivation

    Uploaded by

    hamza
    1. Performance management is a process for establishing shared goals and understanding, and developing employees to achieve organizational goals in the short and long term. 2. Key components of performance management systems include goal setting, continuous feedback, performance evaluation, rewards and promotions, and talent management. 3. An integrated performance management system aligns goals with business strategy, links performance to employee development, and uses incentives and compensation to motivate continuous improvement.

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    © All Rights Reserved
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    Download as pptx, pdf, or txt
    of 13

    PERFORMANCE MANAGEMENT & MOTIVATION

    Week 1 : Performance Management & Reward Systems


    Performance Management
    Definition
    A process or set of processes for establishing shared understanding about what is to be achieved, and
    managing and developing people in a way which increases the probability that it will be achieved in the
    short and longer term.
    Overall aim
    To establish a culture in which individuals and groups take responsibility for the continuous
    improvement of business processes, and of their own skills and contributions.

    01 02 03 04

    Shared Understanding What to be Achieved ? Managing & Continuous


    Developing People Improvement
    Performance Management
    is NOT
    Performance Appraisal
    Key Components of Performance Management
    Systems
    Coaching and
    informal Feedback
    Performance based
    Rewards & Promotions

    Appeal
    Goal Setting Performance Mechanism
    Evaluation Talent
    Management
    Integrated Performance Management System
    1. Goals/KPIs aligned with business strategy
    2. Linking Performance with Employee Development
    3. Continuous Feedback system
    4. Scorecard alignment (BSC & PMS )
    5. Incentives/Bonus/Increments linked with overall Corporate Performance
    6. Line Manager’s incentives based on overall Team Management and goal achievement
    7. Mapping individuals role for Business Impact and Areas they need growth and learning
    8. Real-time data views, enabling employees to give feedback to their peers, self-evaluations and mobile access.
    Employees would able to see how their work contributes to the company, team and project goals, including
    profitability.
    CONTINUOUS PERFORMANCE MANAGEMENT
    Continuous Performance
    Management Cycle
    Compensation \
    Compensation is a systematic approach to providing monetary value to employees in exchange for work
    performed Eg. Salary , House Rent , Utility Allowance

    Rewards
    is used to mean the financial and non-financial reward paid to the employee for the services provided by
    him/her to the organization. Eg. Incentives , performance bonus
    Reward Systems
    Set of mechanisms for distributing
    Tangible returns
    and
    Intangible or relational returns

    As part of an employment relationship


    What to pay ?

    Major strategic How to pay ?


    rewards decisions
    What Benefits to offer ?

    How to construct employee


    000recognition programs ?
    Philosophy of Reward Management
    • Strategic sense: long-term focus & it must be derived from the business strategy
    • Total Reward approach: considering all approaches of reward (financial or not) as a coherent whole; integration
    with other HRM strategies
    • Differential reward according to the contribution
    • Fairness, equity, consistency, transparency
    Components of Total Reward

    Base pay
    Transactional
    Total
    (tangible) Contingent pay
    remuneration
    rewards
    Employee benefits
    Total reward
    Learning and development
    Relational
    Non-financial
    (intangible) The work experience
    rewards
    rewards
    Recognition, achievement, growth
    The 4Ps of Reward
    • Pay
    – Salary, bonus, shares, etc.
    • Praise
    – Positive feedback, commendation, staff-of-the-year award, etc.
    • Promotion
    – Status, career elevation, secondment, etc.
    • Punishment
    – Disciplinary action, withholding pay, or criticism, etc

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