logo

Structuring Individual Performance - The Steel Co

   

Added on  2020-01-15

7 Pages1894 Words404 Views
Leadership ManagementProfessional DevelopmentHealthcare and Research
 | 
 | 
 | 
MANAGINGPEOPLE
Structuring Individual Performance - The Steel Co_1

TABLE OF CONTENTSINTRODUCTION ..........................................................................................................................3TASK 1............................................................................................................................................3Structuring individual performance targets so as to maximize the firm's performance..............3Task 2...............................................................................................................................................4Using performance management system for bringing improvement in employee developmentand communication......................................................................................................................4Task 3...............................................................................................................................................5Need of integrating performance management systems with other human resource processes. .5Task 4...............................................................................................................................................5The effectiveness of linking performance to financial reward....................................................5CONCLUSION................................................................................................................................6REFERENCES ...............................................................................................................................72
Structuring Individual Performance - The Steel Co_2

INTRODUCTION Managing people refers to make sure that all the employees in the organization arecomfortable enough, coordinating themselves efficiently and are working to there best (Clifford,2016). It mainly includes the role of the manager in training the freshers, developing and tomotivate the employees so that they can perform well (Bush and Middlewood, 2013).Management of people can be done using various management style like authoritative style,participative etc. The Steel Co. is a small manufacturing company which is run by an owner-manager and a staff around 65 people. The report includes the case study of Steel Co. and coversthe advice for structuring individual performance targets so as to maximize the firm'sperformance. Also, the report provides suggestions to improve the employee development andcommunication, integration with human resource management. Lastly, advice has been providedregarding the effectiveness of linking performance to financial reward.TASK 1Structuring individual performance targets so as to maximize the firm's performanceTo improve the performance targets the Steel Co. should express the actions anddecisions in such a manner that it is clear and understood by all. The targets should be consistentand traceable with the determined organizational goals which would enable the degree ofachievement to be measured with the stakeholders satisfaction level (Thomson and Thomson,2012). Company should maintain different teams so that the targets are comparable within thoseteams and measures of improvement are taken. Targets should be set in such a way that processoutputs are achieved rather than setting for individual performance. This will increase the teamspirit and would avoid the isolation of an individual. Targets defined must be mainly focused onthe purpose rather than the activity. The most important thing is that there should be a soundrelationship between targets, measures, objectives of the company and the process involved(Martin and Siebert, 2016). The divisional director should also adopt the bonus and incentivesscheme. This will help Steel Company to increase the morale of the employees and they woulddo the work with full dedication in urge to get good incentives. There should be regular trainingand development programs to increase the knowledge of the employees. 3
Structuring Individual Performance - The Steel Co_3

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Managing People & Performance Essay
|9
|2020
|517

Performance Management Systems for Steel Co
|11
|2429
|314

Talent Management Report of Steel Co.
|13
|3920
|45

Performance Management at Steel Company | Report
|8
|2156
|34

Managing People: Structuring Individual Performance Targets
|12
|973
|383

Talent Management TABLE OF CONTENTS TASK 51
|12
|3944
|51