Performance & Reward Management: A Skills Development Report

This report provides a comprehensive overview of skills development in managing performance and reward systems. It covers various aspects, including the basics of performance and reward, strategic alignment, physiological engagement, managing results, performance appraisal, employee benefits, and recognizing individual performance. The report also includes personal development plans and learning reviews, highlighting the skills attained and their future implications. It emphasizes the importance of effective reward systems in motivating employees and achieving organizational goals, with a focus on leadership skills, resource allocation, and continuous improvement through training and development programs. The ultimate aim is to enhance knowledge and skills for professional achievement and future business growth.

MANAGING
PERFORMANCE AND
REWARD

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Introduction to performance and reward basics-.........................................................................3
Strategic alignment and physiological engagement-...................................................................4
Managing Results-.......................................................................................................................5
Performance appraisal and management-....................................................................................6
Reviewing, discussing and developing employee performance-.................................................7
Employee Benefits-......................................................................................................................8
Recognizing and rewarding individual performance-..................................................................8
Personal Development Plan-........................................................................................................9
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12

INTRODUCTION
Professional development is learning which helps in earning and maintaining professional
elements like converting academic degrees to professional coursework, attending conferences,
informal learning throughout the practice (Whiting and Martin, 2020). This report will discuss
the skills attained from learning the management performance reward system. Further, it will
discuss the development record, development plan as well as future implications of these skills
and learning. Later this report will also include the learning review.
Aims-
The aims of the report is :
 Professional Development will help me to enhance the knowledge and skills for
achievement.
 It will also improve my character and capabilities for working efficiently.
Objectives of this report are:
 To increase the productivity, time management, communication skills.
 The main objective is to gain the knowledge for future business growth.
Limitations of the report:
 There was time limitation in order to gain or improve more knowledge
 There was less or insufficient information about the professional development programs.
MAIN BODY
Introduction to performance and reward basics-
Development Plan:
The performance and reward basics will enable me to understand that how effective reward and
systems and performance of the organization will help to achieve the organizational goals and
objectives. Performance based reward systems helps in motivating the employees who contribute
more to the company (Aljumah, 2020).
Performance and reward systems can be achieved by developing the leadership skills as this will
help me in ensuring that none of the department of the organization has weaker section and I will
be able to maintain effective performance of the employees.

Resources can be such as proper training and development programs as well as the main resource
is the budget. This will help to attend the seminar, taking the appropriate courses for the
development of the skills.
This knowledge and developed skills will help me in maintaining culture and growth of the
organization in the future. Along with this it will also help in motivation of the employees by
practising effective reward systems.
I have the set the target of 20 days of completing this development topic so that I will be able to
use these skills in the practical life.
Development Record-
The professional development module was completed by 6 months. In this development
program, the dates were set according to the particular topics.
In this topic of the reward systems I have gained the knowledge as well as tried to apply the
skills practically by setting some examples.
This program helped in learning the introduction and basics of the performance and reward
systems and how these can be applied in the organization.
This knowledge gained by this development program will be used by me in the company for the
effective working of the employees, enables proper communication between the employees and
management, use of reward systems which will motivate the employees to work more
productively.
Learning Review-
It was not enough for development of my skills as I have poor listening skills through which I
faced problems in understanding the topics.
The overall learning has enhanced my skills and knowledge I am much developed than before.
This module helped in detail learning of this topic.
If I Will again go for such similar learning of module than I will try to learn this in practical way
along with the theoretical learning as well as focusing on the listening skills.
I am very much interested in starting up of my own company so this module has enhanced my
knowledge to grow the company.
Strategic alignment and physiological engagement-
Development Plan-

I want to learn this topic as it will help me to gain the knowledge of how strategic aligbmnmet
and engagement are connected to mission and vision to achieve the goals and their importance
(Shafagatova, and Van Looy, 2019, September).
Enhancing the management skills would;d help me to achieve this as effective management is
responsible for this.
Budget is the main resource required to learn this module.
This will help me in maintaining proper engagement in the organization because it is directly
related to achievement of goals.
Target dates were 15 days of this topic, and I was complete this in the given time.
Development Record-
The dates of this topic was 15 September it was started.
In this I took lessons from the module and tried to relate it with the practical life.
This topic has enabled me to understand that how strategic alignment and physiological
engagement is important for achievement of goals.
This knowledge and skills will help in applying to the start-up company for its growth.
Learning Review-
I am not satisfied with the content in this topic as I have poor communication skills, so I faced
problem in learning this topic.
IT has been summarized from the learning of this topic was found that it was not much effective
for me.
Next time when I will go for similar module learning I am much interested in taking more
practical learning.
This detailed learning of the topic will help me to achieve the goals in future of the organization
by using this knowledge practically.
Managing Results-
Development Plan-
Learning this topic will able me to understand how the positive results can be achieved by
management of the resources.
I will be learning this topic in detailed so that it will be easy to apply in the organization for the
achievement.

Budget is the major support and resources required as well as the time for completing and
learning this module.
I want to apply this knowledge in start-up business for efficient working of the employees which
will help in the success of the business.
It is much detail topic as it contains the overall management for effective results so it took 25
days in completion.
Development Record-
The key date of this topic is 1 October. Till 25 days.
To learn this topic in detail I studied in theoretical knowledge for better understanding.
From this topic I learned about the management of the results like managing the workforce and
overall resources of the organization.
I am planning for setting up new business, so this knowledge will help me in applying in the
business.
Learning Review-
This approach has able to acquire much knowledge and developed the skills, and I am not much
satisfied from this learning module as I was not able to mange the time in this topic.
From learning this module I can conclude that this has made me much professional in my field
by enhancing the skills and knowledge, but I was not able to complete this on time.
This similar module if I prefer next time then I will be going for both theoretical knowledge and
well as practical knowledge.
This module has enhanced my knowledge much that I can effectively run the business by
applying the knowledge practically and by improving the time management skills.
Performance appraisal and management-
Development Plan-
I want to learn this topic because this will help me to understand the importance of performance
appraisal of the employees for the organization.
I will learn and understand the topic and complete the things on time to achieve this.
Time and budget are the main resource required to learn this module.
My success criteria is to manage my new business effectively.
The target days for this topic was 15 days as it was a small topic, and I was sable to complete
them.

Development Record-
To gain the knowledge I will manage my time and work hard to learn the topics of the module.
From this topic of the module I learned about the importance of praising employees for
achieving the goals.
This knowledge can be effectively used to praise the employees in my new business in the
future.
Learning Review-
This approach has helped me much in understanding the things in better way and can be applied
practically.
By learning from this module I can conclude that this module was much helpful for me in
learning the topics.
Similar task might be effective for me if it will provide me more of taking practical knowledge.
I am learning professional development module as it will develop my skills and knowledge to
work for my new business.
Reviewing, discussing and developing employee performance-
Development Plan-
I am learning this module as it will provide me to understand the concept of development of the
employee's performance in the organization (Nigusie and Getachew, 2019).
I will work hard and make efforts to learn and achieve this in target days.
Time and budget is the most important resource which I would be required to learn this module.
I am learning this module as it will help me in the success of the business by applying these
learning practically.
I was able to complete this topic in the target time of 25-30 days.
Development Record-
The key dates of this topic was 1 November.
I have taken the learning of the topics in detailed manner for completing the module on time.
From this topic I have learned about how to develop the employee performance in the
organization to increase the productivity level.
As I am opening new business, this knowledge will help me to develop the performance of the
employee by organizing programs like training and development and many more.
Learning Review-

This approach helped me in understanding the ways, the need and the importance of the
employee performance in organization. I found this approach much useful and effective.
After going through overall topic it is very suitable for learning and applying things practically.
If I will go for similar module for this task it will not be much effective for me as these things I
have already learned. So I will go for another method of learning.
As a result of this learning I will apply this practically in my new business for its effective
working.
Employee Benefits-
Development Plan-
I want to learn this topic as from this I will be able to learn the concept of employee benefits and
how much it is helpful for the businesses in increasing its performance (Michael, 2019).
Mainly the time and much budget will be required in the development.
This will help my business in future to increase its effectiveness by providing benefits to the
employees.
The target time for this topic is around 20 days.
Development Record-
I have done learning efforts and given proper time for learning and understanding this concept.
I have learned that when the companies provide benefits to its employees than the efficiency of
the employees increased.
I will use this theoretical knowledge in my new business for its success.
Learning Review-
This approach proved effective for me as it has provided much knowledge to me and improved
my skills.
By learning this topic I can conclude that the theoretical content was much effective for me and
helped in understanding the concepts correctly.
As this module was effective for me trying similar for the next time will not be effective, so I
will go for another module which can provide higher knowledge.
Recognizing and rewarding individual performance-
Development Plan-

I want to learn about the concept of recognition of the employee as well as its individual
performance which will help me the new business in the future(Cabanas, Proença, T. and
Carozzo-Todaro, 2020).
I will learn and understand each and every topic clearly and work hard for it so that I can achieve
them in the practical life.
A good content and time would be required to develop the skills and knowledge.
The main criteria of learning this module is to achieve the goals and objectives of the business in
the future.
The target time for completing this topic is 25-30 days. I will try to complete this in the target
time.
Development Record-
In this learning development module I have learned the concepts' topic wise and done some
exercises to check how much I have learned.
I have done this because it will help me in developing the skills and gain more knowledge.
From this topic I have learned about how rewarding the individual employee would contribute
better for the organization.
This will be useful for my business in the future as it will increase its productivity level of the
employees as well as they will be motivated.
Learning Review-
This approach was much useful for me as it has provided me with much knowledge and
improved my skills but I faced problem in planning.
From the above it can be concluded that it gave me much advantage by learning this module.
Similar to this, the next will not be much effective as it will provide same knowledge and skills
as this learning module.
This knowledge skill can be applied to the business to increase the level of performance of the
individual employee but I have to focus more on the planning.
Personal Development Plan-
Goals and
Objectives
Action and
strategies
Resources Measures Time
Time
Management
Management of
time is very
To manage the
time I will require
Measurement of
my progress will
It will take 1
month to manage

important because
it is required for
every work in
everyday life for
that I have to
manage the work.
I will make the
schedule or time
table for
managing the
time.
budget for the
courses, internet,
proper and
effective study
content.
be the best way to
know the level of
improvement of
this problem.
the time properly.
Listening skills Listening skills is
very important for
effective learning.
I will place the
speaker in front
of me and try to
listen to it.
Regular practice
will help me to
overcome this
problem.
The resources
required for this
will be proper
audio content to
listen.
To measure the
progress of
listening skills,
self assessment is
the best way to
check the skills.
It will take 2
months to
improve the
listening skills.
Communication
skills
Communication
skills is the must
for every
individual. This
can be improved
by writing the
content properly,
trying to talk in
To improve the
communication
skills it will
require only some
topics on which
regularly writing
practices can be
done and budget
Measurement of
communication
skills can be done
by taking reviews
from the family
and friends and
by taking proper
test.
It will take 5
months to
improve the
communication
skills.

proper with the
family and friends
as well as taking
online courses.
for taking the
courses.
Planning skills Planning skills
can be improved
by implementing
the ideas by
proper
management and
by enhancing the
thinking skills.
Resources
required for
improving
planning skills
can be time and
management.
This can be
measured by the
effectiveness of
the work
completion.
It will take 2
months to
improve the
planning skills.
CONCLUSION
This assignment has discussed the development plan, development record and learning review of
the topics related to the performance and reward systems for the professional development.
Further, it has discussed the issues faced by me while learning the modules which has been
included in the personal development Plan.

REFERENCES
Books and journals
Aljumah, A.A., 2020. Performance Related Pay System: How Does It Affect the Performance of
the Employees?.
Cabanas, S., Proença, T. and Carozzo-Todaro, M., 2020. Pay for Individual Performance: Aiding
or Harming Sustainable Intrinsic Motivation?. Sustainability.12(16). p.6322.
Grahek, I., Frömer, R. and Shenhav, A., 2021. Learning when effort matters: Neural dynamics
underlying updating and adaptation to changes in performance efficacy. bioRxiv,
pp.2020-10.
Michael, A., 2019. A handbook of human resource management practice. bookboon. Com.
Nandy, A. and Biswas, M., 2018. Reinforcement learning basics. In Reinforcement Learning
(pp. 1-18). Apress, Berkeley, CA.
Nigusie, G.T. and Getachew, H., 2019. The effect of reward system on employee creativity.
Journal of Higher Education Service Science and Management (JoHESSM).2(1).
Pope, M. and Denicolo, P., 2021. Developing constructive action: personal construct
psychology, action research and professional development. In Action research for change
and development (pp. 93-111). Routledge.
Pratolo, S., Mukti, A.H. and Anwar, M., 2020. Result-based Management and Public
Organizational Performance: Determinant and It Impact to University. Journal of
Accounting and Investment. 21(3). pp.580-601.
Shafagatova, A. and Van Looy, A., 2019, September. Understanding the alignment of employee
appraisals and rewards with business processes. In International Conference on Business
Process Management (pp. 386-401). Springer, Cham.
Whiting, F. and Martin, M., 2020. Human resource practice. Kogan Page Publishers.
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