Analysis of Performance Management and Reward Systems Report

This report delves into the crucial aspects of performance management and reward systems within a team environment. The report explores various factors that influence individual and team performance, emphasizing the importance of clear communication and conflict resolution. It examines perfor...Read More

Managing and
Rewarding
Performance

Table of Contents
Performance management: .............................................................................................................3
Rewards management:.....................................................................................................................4
REFERENCES ...............................................................................................................................1
Books & Journals...................................................................................................................1

Performance management:
While conducting this assignment, I can say that there are various factors faced by me
which influence the performance of every single team member. In order to conduct the report in
an effective manner, me and my team members have agreed on different range of tasks based on
the capabilities. For this, various teams were formed so that we can perform our work together,
plan each and every task in advance, conduct the research by writing or proofreading the
assignments. Teams are developed by the higher authority so that they we will be able to perform
our work within specific time period and produce best possible outcome.
In addition to this, on the basis of my own perception and opinion, communication
between the group need to be quite positive which assist us in order to attain our predefined
goals and objectives. There were various issues arise among the team members which were
solved by communicating with each other on a regular basis. Apart from this, I have faced
various issues regarding team conflicts and disputes which affects the overall performance and
attitude of an individual working within the team (Newman and et. al., 2018). It has also been
identified by me that there were many differences at the initial level of team work, as each and
every member have their own perception towards similar point. This creates differences among
us which develops negative environment and reduce our performance. For me, it is very
important to measure the performance of each and every individual. It is because, it becomes
easy for the higher authority to modify the performance of individual if requires. Apart from this,
I have identified that each and every team member have their own skills which assist the whole
group in order to accomplish their goals effectively.
According to me, it is very important to measure the performance of each individual so
that rewards will be given to them accordingly. I can say that it is essential to provide feedback
on regular basis so that every individual will be able to examine their current status. Apart from
this, according to my view point performance management plays very essential role as it assist
in producing positive outcomes in an effective manner. Performance Management refers to a
regular process through which performance of employees will be enhanced and motivate the
staff members in order to perform their task effectively (Newman and et. al., 2015). This as a
result, creates positive environment which aid in producing positive outcome. It has been
identified by me that performance of individual is being measured on rating system which
includes rating between 1-5. It includes outstanding, highly achieved, achieved, partially

achieved and at the end not achieved. As per my perception, it has been said that performance
management is a continuous process which requires evaluation on a regular basis. It has also
been concluded by me that every individual perform in an effective manner in order to complete
the assignment within specific time period. It is concluded by me, that performance of team
members is being measured by the higher authority on the basis of produced outcome as well as
according to their behaviour. Therefore, it is very important to measure the performance of every
single person which assist in order to examine the self standard. With the help of which every
individual can enhance its performance as well as behaviour which will assist in near future.
Rewards management:
Reward management refers to the adoption of various policies which reward each and
every individual on the basis of their performance, capabilities and ability (Greene, 2018). As per
my view point, performance management and measurement is very important for providing
rewards to the staff members. I can say that performance of each and every team members have
been assessed carefully on the basis of outcome produced by them and then provide them
rewards accordingly. Reward is categorised into two main part which includes intrinsic and
extrinsic. In case of extrinsic reward, individual will be able to get bonus, promotion, salary and
incentives on the basis of their performance. According to my own perception, it is one of the
best method through which individual will be motivated which highly influence their
performance. These reward system assist the team member and create positive environment
among the team which help in producing required outcome. As per my own point of view, there
are various reward management principles through which each and every individual get reward
according to their own capabilities and performance. According to the reward management
principles, rewards are given on various different criteria which includes measurement of
performance which is totally based on the attainment of objectives. On the basis of this, the
assignment is fully accomplished with the help of team work. Therefore, to award the work done
by all the team mates, I will give them 4 out of 5 marks which means the assignment is highly
achieved by the team members in an effective manner. Reason behind given them 4 marks out of
5 is that there were some sections which can be enhanced by team members by collecting proper
information and conduct the assignment effectively. Along with this, each and every task is
designed in such a manner that every individual will be able to attain in an effective manner.

While conducting this assignment, I have identified that reward system plays very
important role in order to motivate the team members to perform their task effectively. For this,
it is very essential to examine the performance of each and every individual associated with the
task, so that proper reward should be given. On the basis of my opinion, higher authority need to
provide feedback on a regular basis, so that reward might be given according to the performance.
I have also observed that reward is given on three basis which includes performance related pay,
contribution related pay and competency related pay. As per my point of view, one of the best
method for providing reward is performance related pay. Reason behind this is that, it is the
reward where individual will be awarded by financial reward where work or performance is the
base.
It has been identified by me that this method of providing reward assist me in order to
motivate and encourage for performing every task in an effective manner and produce positive
result. But on the other hand, there are various issues which is related with the performance
related pay. It has been observed by me that there were some issues arise among the team
members that whether they were awarded with the right reward according to their performance.
In the present assignment, each and every team member is being awarded on the basis of
performance related pay (Vijayakumar and Saxena, 2015). According to me this is one of the
best method adopted by higher authority which as a result motivate and encourage their current
team members in order to perform their work in an effective manner.

REFERENCES
Books & Journals
Greene, R. J., 2018. Rewarding performance: Guiding principles; custom strategies. Routledge.
Newman, A., and et. al., 2015. Special issue of International Journal of Human Resource
Management: Recruiting, managing and rewarding workers in social enterprises.
Newman, A., and et. al., 2018. Recruiting, managing and rewarding workers in social
enterprises. The International Journal of Human Resource Management, 29(20),
pp.2851-2860.
Vijayakumar, V. S. R. and Saxena, U., 2015. Herzberg revisited: Dimensionality and structural
invariance of Herzberg's two factor model. Journal of the Indian Academy of Applied
Psychology, 41(2), p.291.
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