Advanced Remuneration & Performance

ADVANCED REMUNERATION & PERFORMANCE 0
Advanced remuneration & performance
System04116
4/17/2019

ADVANCED REMUNERATION & PERFORMANCE 1
Executive summary
The aim of this report was to learning the performance management system of O’Meara
electronic company so that it can be evaluate its advantages in the context of company. Also to
know that what is the performance management system’s effectiveness in O’Meara electronic
company and to recognize the improvement area by the help of the performance management
system.
All data was collected through the contemporary journal articles related to performance
management system, remuneration strategies and with the help of case study organization.
The methodology of the report was the systematic presentation of facts containing of the issues
or diagnosis and arguments related to performance management system.
The result of a report was that by the help of performance management system in O’Meara there
is a clearness between the employee and managers which assist in achieving personal and
company goals which creates in company a participative environment.

ADVANCED REMUNERATION & PERFORMANCE 2
Contents
1. Introduction..............................................................................................................................2
2. Performance management system and remuneration strategies...............................................2
3. Diagnosis of current performance management system in case study.....................................2
4. Comparison of two performance management system............................................................4
4.1 The process of performance management system which is analyzed in case study is:.........5
5. Arguments with performance management system.................................................................5
6. Recommendation......................................................................................................................7
7. Conclusion................................................................................................................................7
References........................................................................................................................................8

ADVANCED REMUNERATION & PERFORMANCE 3
1. Introduction
This report discusses about performance management system and remuneration management
strategies in O’Meara electronic company. As O’Meara has been operating for twenty years and
has reasonably high share of market in the overall electronic sector in Australia and the small
market internationally. The organization has mostly semi-automated workshops and hires
electronics engineers and technicians who design electronic items.
The purpose of analysis of this case study is to know the new systems, the way of replication in
other subsidiaries and the various strategies which are implemented in O’Meara, Melbourne. The
company has aspirations of expanding into European countries and implement new systems in
accordance with country practices and legislative requirements. The scope of this study is to
focus on the different performance systems for evaluation of performance and strategies for
remunerations so that performance goals can be achieved. Further, the report discusses about
diagnosis present performance management system in O’Meara Company. The various
performance management systems will used to evaluate the performances. The comparison of
two performance management system will be made and arguments in favor or against will be
done.
2. Performance management system and remuneration strategies
Performance management system is tool that is used to lead into the company goal to the
workers separately, assign individual responsibility towards objective and following of the
growth in the attainment of the objectives assigned and assessing their specific performance
(Wibisono, 2010).
A remuneration strategy is designed to attain strategic goals, invite and keep talented staffs
within the organization and control cost of employee remuneration across the organization.
3. Diagnosis of current performance management system in case study
Performance management system allows us to track and observe the performance of individual
staffs, departments and the organization complete that smooths the attainment of specific and