Advanced Remuneration and Performance Management.

Advanced Remuneration and
Performance Management

Table of Contents
1.0 Introduction............................................................................................................... 2
2.0 Diagnosis of Performance Management Systems.................................................................3
3.0 Comparison of three performance management system.........................................................6
4.1 Conclusion................................................................................................................ 7
4.2 Recommendations....................................................................................................... 8
References..................................................................................................................... 8
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1.0 Introduction
The report is focusing on the purpose of wholesome discussion of the issues that are hampering
the business of the corporation O'Meara Electronics in regards to the improper Performance
Management System. A good diagnosis of the system is being made and proper suggestive
actions are being suggested for them accordingly. The scope of this report is that a comparative
study of other two performance management system is being done to make sure which suits the
best according to the ongoing situation of the company. In accordance to the mentioned case
study the corporation O’Meara Electronics has been working for over 20 years. It has a elevated
market share in Australia in the electronic sector. The company initially has a position based
Remuneration System (Špalková, Špaček & Nemec, 2015). But now they are planning to change
it with the person-based system. The issue with the spot based remuneration system creating a
hurdle in the development of the organization in the market. The Performance Management
System is an attribute that provides a mechanism to significantly improve the performance of an
organization. This works by aligning and linking the individuals, team and sometimes the
objective of the organizations (ullah khan, 2013). There are several importance of this
performance management system such as creates an ongoing process. Then gather information
from multiple sources for development. The limitations of this report are that all the performance
management systems are not properly recommended to O'Meara Electronics.
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Figure: Performance management cycle
Source:https://www.clearreview.com/resources/guides/what-is-effective-performance-
management/
2.0 Diagnosis of Performance Management Systems
O'Meara Electronics is selling its product in Australia. The organization has also set up
subsidiaries in Germany and Southeast Asia. The organization has more than 1000 staffs. David
O'Meara is the president of the organization. In 2016, the president raised concern over
profitability and overall development of the organization. According to the president, the
business has to implement useful performance management strategy along with an effective
remuneration management process. The requirement of a new Performance Management System
has been elaborated in the meeting. In this case, the organization has to make a significant plan
for its subsidiaries that are situated in other countries. Director of HR Management Sarah Jones
addressed the meeting with the employees. Sarah Jones talked about the current remuneration
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