Managing Performance and Rewards : Report
Added on 2020-01-16
18 Pages6145 Words148 Views
Managing performance andrewards
TABLE OF CONTENTSIntroduction......................................................................................................................................3Task .................................................................................................................................................3Critical Examine Performance Management Issues And Rationale For A PerformanceManagement.................................................................................................................................3Critical Evaluation Of Key Issues In Performance And Reward Management..........................8Critical Evaluation Of Effectiveness Of Performance And Reward Policies And Practices...12CONCLUSION..............................................................................................................................15References......................................................................................................................................162
INTRODUCTIONPerformance management refers as process or strategy of an entity which ensure thatpeople contribute well in attaining goal of the organization. It is broader and essential function ofhuman resource management that assist in improving overall performance of the corporation inorder to sustain in the market for longer duration (Kaplan and Atkinson, 2015). It involvesrewards system to motivate employees so that they like the workplace and put their best efforts.Managing performance with rewards is the proactive system that supports in managing peoplewell and making them loyal towards the firms. Present report is based on the case study ofnational office suppliers. The firm is provider of stationery and office furniture throughout UK.Cited firm has good experience and its turn over has been increased approx one-third in last threedays. Current assignment will critically examine performance management issues in reference toNational office suppliers (Kaplan and Atkinson, 2015). It will discuss the measuring points ofperformance. Study will illustrate new reward strategy and it will define the ways in order toaccomplish business needs and objectives. In addition, report will give appropriate suggestion ofperformance measurement and reward system for improving performance of the company.TASK Critical Examine Performance Management Issues And Rationale For A PerformanceManagementIn the globalized era competition is very high and companies are suffering from highcompetition. Most of the small firms are not getting chance to enter in the market due to highcompletion (Teeratansirikool and et.al, 2013). Apart from this most of the big organizations areunable to sustain in the market for longer duration. Firms have to make effective strategies sothat they can face this issues and can perform better. Performance management is the way thatcan support the entities in facing competition and gaining the competitive advantage. It is to besaid that employees are assest6s of the organization, if workers are satisfied and loyal thencorporations can perform better and can achieve its objective soon (Schaltegger and Burritt,2014). National office supplier is the suppliers of stationary and furniture in the UK market.South West regional office of the company is running well. Regional sales manager of the area3
conducts business operations in informal manner. The person encourages team members to bemore talkative so that coordination among them can be build up (Koike, 2013). Individual doesnot have any formal future plans, they just believe that if employees perform well as compare toprevious year then they can do well in near future as well. Regional sales manager concentratesmore on its staff members and always try to make them happy so that they like the workplaceand perform well in the organization.Southern Regional office of National office supplier is also working well, the salesmanager of region is reserved and fastidious. Individual focuses on improvement andconcentrates more on mistakes so that proper action can be taken by the management forimproving the lacking points (Rabovsky, 2013). That is the only way that can support inimproving performance level of employees. Individual provides cash bonus to all workers but itpressurizes others those who are not eligible for the rewards and recognition so that poor peoplealso improve their working efficiency and perform better in the workplace.Performance management issues faced by National office suppliersThere are many issues which are faced by the cit ed firm at the time of measuringperformance of the employees. Due to this issues company fails to achieve its target withindecided time duration (Wilson and Hollensen, 2013). These are described as below:Lack of credibilityThe effective measuring of performance is highly depends upon trust between employeesand employer. If workers have doubt of the credibility of the supervisors then they may createthe measurement and due to this actual results get hampered. Lack of credibility takes place dueto poor communication, inexperienced management etc. This is the major problems which isfaced by the National office supplier that the time of performance measurement (Aracıoğlu,Zalluhoğlu and Candemir, 2013). South west regional office of cited firm focuses on buildingrelationship with the employees thus, it provides them flexible workplace environment andmotivate them that they discuss their issues with each other. On other hand Southern regionaloffice concentrates more on improvement thus, it always motivates its employees by giving cashbonuses. But due to lack of trust people do not relies on the management. Thus, it creates issueof lack of consistency due to this performance can not be measured effectively (Salleh and et.al,2013).4
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