Performance and Compensation Management

Added on - 21 Apr 2020

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Running head: PERFORMANCE AND COMPENSATION MANAGEMENTPERFORMANCE MANAGEMENT AND COMPENSATION MANAGEMENTName of the studentName of the universityAuthor note
1PERFORMANCE AND COMPENSATION MANAGEMENTTable of contentsAbout the organisation...............................................................................................................2Specific issue related to performance management...................................................................2Specific issue related to compensation management.................................................................3Analysis of the performance management issue........................................................................3Analysis of the compensation management issue......................................................................4Recommendation........................................................................................................................5Reference....................................................................................................................................6
2PERFORMANCE AND COMPENSATION MANAGEMENTAbout the organisationThe report focuses on the issues that arise related to performance and compensationmanagement. Every organisation needs to evaluate the performance of an employee in termsof the productivity they provide to the organisation. Based on this employee are providedwith compensation that helps to remain motivated. The report analyses the issues that arise inTesco.Tesco is one of the largest multinational grocery organisations in the UK. It is a publiclimited company set up in 1919, in London. Currently the headquarters of the company islocated in Hertfordshire. Tesco has stores in 12 countries all across Europe and Asia. As of2017, the number of stores in the country is 6553 with over 476,000 employees. Reportssuggest that the overall revenue of the company 55,917 million pounds (Tesco.com,Tesco -Online Groceries, Homeware, Electricals & Clothing).Despite managing one of the most recognised brands of retail sectors in the world, themanagers of Tesco faces an issue that is related to the performance of the employees as wellas the compensation received by them. The report focuses on these issues and analyses thereasons behind the occurrence of these issues. It also provides a recommendation for Tesco inorder to solve related problems.Specific issue related to performance managementVan Dooren, Bouckaert, and Halligan, p. 23, stated that performance management isconsidered as a process used to access employees of an organisation. The efficiency of theactivities of an employee is measured by the performance they provide in trying to achievethe objectives of an organisation. Performance management is also used in order to align theresources, employees and systems in order to achieve strategic objectives and priorities.
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