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Reward Management Report (Doc)

   

Added on  2020-07-23

10 Pages2306 Words65 Views
Developing and ManagingPerformance
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Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1Reward management report.............................................................................................................1CONCLUSION................................................................................................................................5REFERENCES................................................................................................................................7
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INTRODUCTIONEvery organisation have its own set of rules, system, structure and objective. In order toattain the gaol and target, employees are most crucial and significant part of the corporation. Inthe absence of human resource, no firm can attain its business target. In order to developcompetitive advantage, employees are very significant assets for the company. It is veryimportant for the management to maintain and manage the performance of personnels. In orderto enhance the performance of employees, reward and appraisal is very essential by which theycan motivate and encourage for give quality of work to company. The present report is based onthe significant of reward management and appraisal management. The major objective of thisreport is to understand the effect of reward practices and range of management tool on themotivation and behaviour of the human resource. In this assignment, reward principle, policies,practices and decision making of the performance management can address. In addition to thisanalysis of high performance work in the organisation has also discussed in this report.TASK 1Reward management reportIn an organisation, in order to motivate and encourage the employees in excellentmanner, reward management schemes and policies are very important. All personnels requiredeffective wages, salary and increment. They have financial requirement so it is very importantfor the company to understand their financial needs and pay the reward and salary according totheir performance (Gruman and Saks, 2011). In the given case scenario, Daphne Jones hasrecently been appointed as personnel manager of the Cavendish Hall Hotel This is one of thefamous hotel which have 200 bedroom, four-star county house hotel located in rolling hills a fewmiles south of a major northern industrial conurbation. In the present time, hotel is going tointroduce an individual performance related pay scheme so the manager of hotel would like toDaphnes to review the effectiveness of these schemes. In the context of hotel sector, followingare some advantage and disadvantage of individual performance related pay as a performancemanagementAdvantagesIndividual performance related pay can assist to the company in enhancing motivationand encouragement among workforce. As this scheme assist in enhancing quality of1
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