Analysis of Data for Performance and Reward Management Report

This report delves into the critical aspects of performance and reward management, emphasizing the essential data required for effective implementation. It outlines the significance of data such as performance and potential ratings, skills, strengths, and weaknesses of employees, and behavioral competencies. Furthermore, the report highlights the importance of data in reward management, particularly base salaries and bonuses, to ensure fair compensation and motivation. By examining these data points, the report underscores how organizations can improve employee efficiency and morale. The analysis is supported by references to relevant literature, providing a comprehensive overview of the subject. The report concludes by summarizing the importance of these data in achieving organizational goals.

3PRM

Table of Contents
INTRODUCTION...........................................................................................................................3
Data required by Individuals that are involved within a performance and reward management
process..............................................................................................................................................3
CONCLUSION................................................................................................................................3
REFERENCES................................................................................................................................4

INTRODUCTION
Performance management is an activity of analysing and measuring the performance of an
individual in Organisation. Reward management is a process through which employees are
motivated to work hard so that they can give their productive result in achieving the goals and
objective of Company.
Data required by Individuals that are involved within a performance and
reward management process
The Data required by individuals that are involved within a performance management
process are performance and potential ratings, skills and knowledge of staff, strength and
weakness of individual, behavioural and competency measurement or objectives set and
achieved (Do and Mai, 2020). These are the data which is required by and individual within
performance management process it is important for a manager to analyse these data and
measure the performance of employees in order to maximise their efficiency. With the help of
these data manager can provide ratings to workers on the basis of their performance and work.
The data required by an individual that are involved within reward management process are base
salary and bonus or commission earned. For reward management process it is important to know
the base salary of the employees so that Company can pay the amount according to the structured
salary (Emad, 2018). For conducting the performance and reward management process it is
necessary to gather the data which is required in order to run the process efficiently and
effectively.
CONCLUSION
From the above information it is being concluded that there are various data which is must
required for conducting the performance and reward management process these data helps in
increasing the morale and motivation level of employees.

REFERENCES
Books and Journals
Do, T. T. and Mai, N. K., 2020. High-performance organization: a literature review. Journal of
Strategy and Management.
Emad, G. R., 2018. Reward management and performance appraisal. In Managing Human
Resources in the Shipping Industry (pp. 55-71). Routledge.