Reward and Performance Essay
The aim of this module is to introduce you to the concepts surrounding how people who work in organisations are rewarded and how this in turn affects their performance and that of the organisation. In this unit we will look at the performance management cycle and planning process and how it can be linked to the reward policies that are put in place. Go to this website link CIPD – Developing performance management and read the download.This will give you a good knowledge of what the CIPD view as being the fundamentals of Performance Management. Now go to this fact sheet link CIPD – Pay and reward: an overview to read about the CIPD view on this subject. Activity Think about the things that you have read and answer the following questions; • How is/was your performance managed in your current (or previous) job? • How are/were you rewarded for good performance in in your current (or previous) job? How is/was your performance measured in your current (or previous) job? Reading You should now read about what academic texts say about the relationship between performance and reward. Go to some of the text books that are recommended in your handbook and look for the sections on the links between performance and reward.
For example in “Employee Reward Alternatives, Consequences and Contexts” Stephen J Perkins and Geoff White (2008) pages 161-181 considers the links between performance management and performance related pay.You should not just be reading what one text says, you should be looking at some of the others in order to get more than one view. [pic] Diagram1; The Performance Management Cycle This shows the stages that the cycle can go through to explain them in more detail; Determining performance expectations; an employee needs to know what is expected of them andin the next chapter we will look more closely at how this can be done.Supporting performance; however good an employee is at their job, they will need support, however good an organisation is at achieving their objectives they will need external support, this will be explored further in later chapters. Review and appraise performance; any process within an organisation that is designed to enhance the achievement of objectives should be continually reviewed as there are internal and external influences that will impact on its suitability.As we go through this module we will look at a number of ways of doing this in particular ways of appraising staff in order to reward them for good performance or develop their capability.
Manage Performance Standards; without setting benchmarks and being clear what is required, organisations cannot hope to ensure that what they are doing is relevant to what they are trying to achieve. This concept will overarch all of the chapters in this module.