Supporting Good Practice in Performance and Reward Management

Supporting Good Practice in Per reboundance and Reward Management 3PRM use 1 Performance forethought Performance Management is both a strategic (about broad issues and semipermanent goals) and an integrated (linking various aspects of the line, people management, someones and teams) approach to delivering successful results in organisations by improving the instruction execution and ontogenesis the capabilities of teams and souls.Two important(prenominal) purposes of carrying into action management atomic number 18 * To help the employees in identifying the knowledge and skills required for performing the channel efficiently as this would drive their focus towards performing the right task in the right expressive style, which in turn helps wreak towards the business objectives as their tasks ar generated and focussed around the organisations goals. Promoting a two way system of communication between the supervisors and the employees for clarifying expectations about the roles and accountabilities, communicating the functional and organisational goals, providing a regular and a transp atomic number 18nt feedback for improving employee performance and dogging coaching and development. The most important stratum and component of whatsoever performance management process which forms the basis of performance is Appraisals.Appraisal systems atomic number 18 a formal method of monitor and refreshening single(a)ists performance. This is important as they enable the individuals to gain a clear picture of how they ar doing and to identify areas whither they may take aim additional sponsor or educational activity. They also ensure that the fetch on of the individual is focussed towards the boilersuit objectives of the organisation and whether they are on track to meet their objectives they have been set. There are three main components of performance management Planning This is through with(p) in form of approximations. Performance readines s is jointly through with(p) by the appraisee and also the appraiser in the beginning of a performance session. During this period, both the manager and module decide upon the targets and the primal performance areas which can be performed all over the next year. * Monitoring Regular monitor of performance is one of the key component to performance management it is usu completelyy done in the form of informal approximations and these should also occur though regular contact and one to ones.It gives an opportunity to monitor the acts of objectives for faculty, keeps a run across on how the individual is getting on in relation to the tasks, identifies any problems which can resist the individual from achieving their work objectives. * Review/evaluating Managers should be giving feedback on a regular and continuing basis. This is the stage in which the employee acquires awareness from the appraiser about the areas of remedyments and also information on whether the employee is contributing the expected levels of performance or non.The employee receives open feedback and a great with this the training and development involve of the individual is also identified. The appraiser adopts all the possible steps to ensure that the employee meets the expected outcomes for an organisation through guidance, mentoring and representing the employee in training programmes which develop the competencies and improve the overall productivity. This stage also is an opportunity for strengths to be identified and how these can be utilised to support the business objectives further. Motivation and performance managementThe relationship between motivation and performance management is a occlude one, they work on each other. Motivation is the key to an individuals degree of willingness to exert and maintain their efforts towards the organisational goals. Motivation levels are likely to have an effect on performance. If an individual has high motivation, it is likely to increase their performance. Although this may not always be the case. Here is a list of some of the things that motivate individuals * Money * Reward schemes * find of achievement * The environment * Professional Development * Benefits Etc. There are many motivational theories here I will explain two of them. Herzbergs two factor theory of motivation at the workplace shows the difference between two factors of motivation. The two factors being satisfiers, which are the main causes for job comfort (motivation), from hygiene factors which are the main causes for job dissatisfaction (demotivation to stay in the job). Examples of motivating factors are achievement, recognition, responsibility and the work itself. Hygiene factors include working conditions, salary, relationship with colleagues, supervision, etc.An organisation needs to influence satisfiers through performance management using range of tools such as job descriptions, supervision, performance assessments, continuous de velopment/training, rewards and career development. Maslows theory of motivation is called the hierarchy of needs. Maslow believes that people have five main needs in the hook up insideg order of importance 1. Physiological the need to eat, drink, sleep, reproduce. 2. Safety the need for shelter and to notice secure. 3. dear/Belonging the need to feel part of a group and to be accepted. . Esteem the need to feel good about themselves and the need to be recognised for achievements. 5. Self-actualisation the need for personal fulfilment and the need to enkindle and develop. Maslows hierarchic theory is represented as a pyramid, with the lower levels representing the more fundamental needs, and the upper levels representing the increase/being needs, and ultimately the need for self-actualisation. According to the theory, the higher needs in the hierarchy become manifest that after all the needs that are lower down in the pyramid are met. Rewards roughly organisations use rew ards within their performance management system to motivate individuals. Two main purposes they do this are * To help attract individuals The better rewards that the organisation gives the more people are going to be attracted to work for them so more people will apply for jobs there. * Retain the individuals Rewards for good performance is motivation for staff to stay with the organisation it helps look at them feel valued in turn makes them work harder. Rewards are not just financial but non-financial too. Rewards can be things such as * Pay rise/ bonus.Some bonuses are based on performance of an individual, the team or the organisation and is usually target / objective focused. * Recognition. This could be through increased responsibility, praise during one to ones, a certificate of recognition, etc. * Flexible hours and time finish take away This could be a generous holiday period or increased holiday to reward employees for long service. Also some organisations use flexib le working as a reward. Data needed for managing performance All materials need to be prepared for managing performance (appraisal meetings) these would include internal and external data, although most are internal.An internal piece of data for example would be if it was a sales organisation they would bring along the report for the percentage of sales the individual has made and this would be compared to the targets set. The comparison would show how well individual has done to meet these this would then be treated in the next stage. Other examples would include notes agreed tasks and records of performance, achievements, incidents, reports, preceding performance appraisal documents and a current job description.An example of an external piece of data would be benchmarking, where the manager would collect data from other organisations to analyse and compare the sales the individual has made, this would show how the employees confederacy is developing not only themselves, but al so the constitution as a whole, compared to the other organisations, primitively collected data from. Another example would be feedback from external customers or other organisations. Managing Performance The key aims of performance management are to continuously improve the performance of individuals and that of the organisation.It involves making sure that the performance of employees contributes to the goals of their teams and the business as a whole. Part of the management is to review the individuals performance whether it be good or unworthy performance. The aims of the meetings for performance management are to encourage and motivate not to undermine. Factors to be considered whilst managing good performance would be reward for the individuals performance, how to keep the individual motivated to keep up the good work and any training needs to help develop further.Factors to consider whilst managing ugly performance would be thinking about how to grass with discussing the performance as these can be difficult conversations for managers, thinking about why the performance is poor and thinking about how to improve the individuals performance, what measures can be put in place and how this can monitored. Most organisations have their performance reviews at once a year in the form of appraisals and have 6 month reviews. Although managers should keep their staff informed of their performance and giving feedback throughout the whole year.This can be done through one to ones or regular meetings. The purposes of the performance reviews are * to check how the team member is getting on in relation to the tasks and objectives agreed, * to identify any problems which may be preventing the individual from achieving their work objectives, * to highlight opportunities for improving work processes, * to build confidence and self-esteem within the individual * to plan future work, set tasks and agree objectives * to agree ways to support the individual in the future, * to discuss the individuals feedback and how they feel about their job.The process of appraisals Appraisal systems vary in different organisations, some have alike(p) procedures, some have few guidelines and leave it to the manager to plan and implement. There are three main stages of an appraisal preparation, the meeting and the follow up. * Preparation Both the manager and the individual need to prepare for the appraisal by reviewing the individuals performance including the overall performance, the quality of the work and checking if targets have been met. * The meeting The manager needs to make sure that a suitable venue is planned and available, private and free from interruptions.Within the meeting the manager needs to set the tone which will influence whether the discussion is helpful to both manager and individual they need to make sure that the individual is relaxed. Then both the manager and individual going through the appraisal document discuss * Performance and ide ntify areas of good performance and the weaker investigate the reasons for the weakness and highlight the areas for advancement * clarifying, defining, redefining priorities and objectives making sure that they are specific to the organisations objectives * motivation through agreeing helpful aims and targets motivation though achievement and feedback * training needs and learning desires assessment and agreement * identification of personal strengths * career and succession planning personal and organisational * team roles clarification and team building * organisational training needs assessment and analysis * the individual and managers mutual awareness, understanding and relationship * reinforcing organisational philosophies, values, aims, strategies, priorities * additional responsibilities, employee growth and development * counselling and feedback * manager development The follow up is the review by the manager where they need to complete the documentation by writing up wh at had been discussed. Making sure that the write up is agreed and signed by the individual. Managers need to keep continuous monitoring and evaluation on the individual throughout the year and ideally hold a review within that time. Activity 2 The hopeful outcome of the meeting was to discuss with the individual their performance over the last six months, including what went well and what hadnt gone so well. Why things had gone well or not so well and if there was anything to improve performance or training needs.The outcomes of the appraisal with Hannah were that over the last six months as the manager I felt that Hannah has been doing well and providing a good service. Her only downfall is that sales have gone down but this was due to Hannah having a month off work with a broken leg. This was discussed within the meeting using the Appraisal form and was met with targets to be achieved. The appraisal form used was effective as it covers all areas of performance including how the i ndividual felt about the antecedent six months it also covers how the manager felt they performed.It discusses what they have enjoyed most and least, quality of their work, management of workload, targets and identifies if any training is needed. These things covered are important as it lets both the manager and individual know how the individual is doing within the organisation and whether they need any further development or training. This is a motivator to the individual as they can gain job satisfaction that they are going in the right direction and aid towards the overall aim and objectives of the organisation.This appraisal system could be improved by having more input from the individual so they can have their say on what they have done and how they feel they have done which maybe the manager has not recognised. This would help the individual to feel they receive the recognition they deserve for the work they have input. happy (specific, measurable, achievable, realistic a nd timely) should be incorporated to the form as the targets need to be SMART otherwise it would be unfair for the individual to set unattainable targets to meet as they wont meet them which will affect their performance reviews.