Supporting Good Practice in Performance and Reward Management

Supporting Good Practice
in Performance and
Reward Management

TABLE OF CONTENT
INTRODUCTION...........................................................................................................................4
MAIN BODY...................................................................................................................................4
Part 1 (AC 1.1, 1.2, 1.3, 2.1, 2.2, 3.1, 3.2).......................................................................................4
The purpose of performance management and its relationship to business objective.................4
Effective performance management system elements and motivational theories develop
effective performance management.............................................................................................5
Goal setting theory for motivation...............................................................................................6
Factors that need to be considered when managing employee performance...............................6
The purpose of rewards within a performance management system...........................................7
Data required by individuals when reviewing and involved in performance and reward
management processes/systems...................................................................................................7
The components and benefits of as effective 'total rewards' system............................................8
Part 2 (AC 4.1).................................................................................................................................8
The frequency, purpose and process of a performance review....................................................8
Frequency of performance review...............................................................................................9
Purpose of performance review...................................................................................................9
Process of performance review..................................................................................................10
Part 3 (AC 4.2)...............................................................................................................................10
Skills Assessment – Undertaking a performance review...........................................................10
Part 4 Reflection (AC 4.3).............................................................................................................11
Outcome of the review...............................................................................................................11
Performance and effectiveness in achieving this outcome and key learning points for
improvement on a future occasion.............................................................................................11
CONCLUSION..............................................................................................................................13
REFERENCES..............................................................................................................................14

INTRODUCTION
Performance management is process where organization ensures their activities and their
outputs and it provides information about which essential mainly requires for effective
development of company success. It is systematic approach and strategy for improvement in
business object and employee work behaviour and performance (Aguinis and Burgi-Tian, 2021).
Net-A-Porter industry is all about fashion and leisure retail company. The company has their
own website for product selling and also their mangers employees mainly focusses on the
improvement in individual performance for effective result. According to recent market trends its
important company develop their website because its best option to services in the innovative
market. This report will clearly provide information about that how company manage employee
performance and fulfil their business objective and also it gives information about how company
applies theories for effective outcomes and many more.
MAIN BODY
Part 1 (AC 1.1, 1.2, 1.3, 2.1, 2.2, 3.1, 3.2)
The purpose of performance management and its relationship to business objective
Performance measurement is most important aspect for every organization because it
useful for analyse multiple factor which affects the business object. Company manager always
believes in maintain effective productivity and increase sales so management of these aspects
requires knowledge that how individual performance for the particular task and employee has
potential for aim achievement or not (Al-Swidi, Gelaidan and Saleh, 2021). Net-A-Porter
purpose of performance management is management of risk and develop efficiency in operation
activities are as follows,
Encourage Teamwork, Collaboration and Communication
Almost every company owner, manager believes in teamwork management because it
can be directly influence business productivity. On the basis of performance management tool
company's manger analyse that which factor influences the team work and how to prepares
structure for effective communication between tow individual (Chan, 2021). Net-A-Porter
industry owner analyse that team work is the best option for their specific target achievement and
effective performance management.
Identify the area of development