Performance and Reward Management Essay

Performance and Reward Management Essay

Length: 3118 words (8.9 double-spaced pages)

Rating: Research Papers

Open Document

Essay Preview

Introduction
Every organization faces a shortage of resources including skilled human resources. This necessitates the emphasis on performance so that organizations can hire as few employees as possible while raising performance to the highest possible levels. Contemporary managers have the task to raise employee motivation so as to raise employee performance. This means that managers have to provide timely performance feedback so as to give direction to employees. Performance feedback is not a one-off issue but is a critical constituent in the continuous enhancement of contemporary workforce improvement (Anseel, Lievens, & Schollaert, 2009, p. 24). Performance feedback equips employees with the knowledge to modify their behavior so as to improve their individual and consequently group performance. At the absence of performance feedback employees are left in guesswork as they contemplate which areas to focus more efforts so as to develop professionally.
Aguinis, Gottfredson, & Joo (2012, p. 105) define performance management as the provision of information concerning an employee’s past conduct with respect to the stated goals and standards of behavior and results. The objective of performance feedback is to help the employee improve individual as well as team performance, employee engagement and motivation and ultimately job satisfaction. While there is consensus that performance feedback help in the attainment of the foregoing organizational goals, managers often find themselves uncomfortable in providing performance feedback. On other occasions, the provided feedback does greater harm than good with regard to helping employees to change behavior and improve performance. Aguinis, Gottfredson, & Joo (2012, p. 105) report resear...


... middle of paper ...


...-based approach. Business Horizons 55: 105-111.
Anseel, F., Lievens, F., & Schollaert, E. (2009). Reflection as a strategy to enhance task performance after feedback. Organizational Behavior and Human Decision Processes 110: 23-35.
Ligon, G.S., Graham, K.A., Edwards, A., Osburn, H.K., & Hunter, S.T. (2012). Performance Management: Appraising Performance, Providing Feedback, and Developing for Creativity. Handbook of Organizational Creativity 633-666. New York: Elsevier, INC.
Oettingen, G., Marquardt, M.K., & Gollwitzer, P.M. (2012). Mental contrasting turns positive feedback on creative potential into successful performance. Journal of Experimental Social Psychology 48: 990-996.
Renn, R.W. (2003). Moderation by goal commitment of the feedback-performance relationship: Theoretical explanation and preliminary study. Human Resource Management Review 13: 561-580.

Need Writing Help?

Get feedback on grammar, clarity, concision and logic instantly.

Check your paper »

Effective Reward Management is Critical to Organizational Performance Essay

- Effective reward management is critical to organisational performance Being rewarded and recognised for their work or contribution is what keeps an employee motivated to work towards achieving the organisational as well as personal goals. When the employees is motivated by rewards, they will have job satisfaction consequently increasing the productivity of the organisation. It necessitates the need of managers to pay more attention in understanding their employees and come up with suitable types of reward systems for the organisation so that the employees are intrinsically and extrinsically motivated all the time....   [tags: Business Management ]

Research Papers
1827 words (5.2 pages)

The Ideal Performance Management System Essay

- A comprehensive performance management system will be thorough, inclusive, practical, meaningful, reliable, open, ethical, and correctable among other qualities (Aguinis, 2013). Additionally, the process of managing performance will be an ongoing process to include processes such as coaching and employee development. An ideal performance management system will serve an organization by developing satisfied and competent employees who are actively engaged in aiding the organization to reach their strategic goals, mission, and vision....   [tags: Management Performance System]

Research Papers
2845 words (8.1 pages)

Reward Management Essay

- Reward Management (RM) has been defined as the distribution of monetary and non-monetary rewards to employees in an effort to align the interests of the employees, the organisation, and its shareholders (O’Neil, 1998). In addition O’Neil (1998) also suggests that a RM system can serve the purpose of attracting prospective job applicants, retaining valuable employees, motivating employees, ensuring legal requirements relating to direct and indirect rewards are not violated, assisting the company in achieving human resource and business objectives, and ultimately assisting the organisation in obtaining a competitive advantage....   [tags: Reward Systems RM]

Research Papers
3615 words (10.3 pages)

Essay on Reward Management in a Professional Organisation

- In today’s dynamic business environment, every organization is galloping its pace to cope up with the change and dynamism of the market, in order to captivate greater competitive edge and market share. The existing scenario enriched with time based competition and mass customisation has agitated many organisations to etch in the market with such intellectual capital that can withstand according to the stated situation. The human resource of the firm plays a vital role in achieving its targets and goals because planning and setting objectives does not seen as sound means to grab them if the execution is not implemented with its core theme and that is possible only when human resource of the f...   [tags: human resources, reward strategy, motivation]

Research Papers
2268 words (6.5 pages)

Essay on Effective Reward Management

- “Effective reward management is critical to organizational performance.” Effective reward management, as a system, is the most powerful tool available to reinforce organizational values and translate them into employee actions (read behavior). Here, the ‘organization’ does not only refer to a business structure, but any institution (or activity) that involves people working together, and requires their voluntary contributions in order to operate successfully. Whether it is a school, a hospital, an NGO, a government agency, a political party, or a religious foundation, all require a matrix through which the performance of its individual members can be measured, and rewarded....   [tags: Business Management ]

Research Papers
2151 words (6.1 pages)

Performance and Rewards Essay

- All organizations exist to achieve specified objectives and goals. To achieve those goals they need different resources; human capital resources are the most important. It would not help to have enough financial and material resources without the right human capital resources. It is also not enough to have human capital just for the sake of it, human capital (employee) should be committed and willing to perform their duties and achieve the organizational goals. It is in this light that the management should seek to understand the effects of rewards on the employees’ performance....   [tags: Performance Management, Organization]

Research Papers
2813 words (8 pages)

Essay on Training and Development and Performance Management

- Introduction In order to define Human Resource Strategy, one must first understand the concepts behind an organisation’s business strategy and its HRM practices. Various definitions of ‘strategy’ exist, almost all of which boil down to the simple fact that it is the general direction of an organization, which it must strive to go in the long term. The responsibility of adhering to the business strategy falls on the managers, who must use the resources at hand, keeping in context with the business environment their particular organisation is in, in order to achieve the goals laid down in the strategy by the stakeholders....   [tags: Performance Management, Human Resources]

Research Papers
1615 words (4.6 pages)

Essay on Organizational Change, Learning and Performance Management

- Organizational Change, Learning and Performance management Presently, organizations have become a complex phenomenon, which requires numerous functions and strategies to manage the human resources. In today’s world there is a great need for organizational change and learning from time to time because of increasing globalization and technological advances. Proper plans and policies should be framed for implementing organizational change (Allen & Kilman, 2001). Organization learning and change manage the performance of the employees in the organization....   [tags: Business Management]

Research Papers
871 words (2.5 pages)

Performance Management Issues Essay

- Performance Management Issues Performance management can be defined as a systematic process, which helps an organization by improving the effectiveness of its employees, so that the organization can achieve desired results. The performance management in an organization includes proper planning of work and setting expectations to be achieved. In addition to this, the performance management also consists of monitoring performance of employees and training them, so that they can improve their performance and reward employees who perform exceptionally well (Berger, 2000)....   [tags: Business Management ]

Research Papers
1219 words (3.5 pages)

Evolution of Reward Systems Essay

- Employee compensation and reward systems have undergone a couple of paradigm shifts since inception. Reward systems were traditionally compensation based and focused on the individual or the position (Beam 1995). After a recession in the early 1980's, employers turned to performance based models in an attempt to save money while still rewarding top performers (Applebaum & Shapiro, 1992). Today, the most successful organizations are using a total reward model, a hybrid of the performance based model combined with strategic human resource management planning to create reward systems that both benefit the employee and help organizations realize their operational goals (Chen & Hsieh, 2006)....   [tags: Business Management ]

Research Papers
876 words (2.5 pages)