This report delves into the essentials of people practice, focusing on performance management and reward systems within an organization. It highlights the purpose of performance management in enhancing work performance and employee retention, emphasizing the importance of clear accountability and motivation. The report explores different types of appraisal methods used by Technow, including management by objectives and behavior-based appraisals. It further examines financial and non-financial components necessary for an effective total reward system, such as incentives, bonuses, and fair pay practices. The document concludes by stressing the significance of treating employees fairly in relation to pay to foster positive motivation and productivity. Desklib offers a range of resources, including solved assignments and past papers, to support students in understanding these key concepts.
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