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Provide a 13 pages analysis while answering the following question: How Payment Affects Overall Performance Management. Prepare this assignment according to the guidelines found in the APA Style Guide
Provide a 13 pages analysis while answering the following question: How Payment Affects Overall Performance Management. Prepare this assignment according to the guidelines found in the APA Style Guide. An abstract is required. We have had a clear understanding of performance management, the paper will go on to discuss what motivates employees and what doesn’t. It will see if whether pay should be a big part of employers’ overall performance management.
In the process of measuring success, an employer puts pressure on them. They are constantly being monitored for where they stand. To keep them standing where they should be, an employer needs to motivate them. For example, in a retail chain, there must be a set amount of goods that a salesperson must sell. To achieve this level, there has to be performance management that involves non-monetary benefits that will encourage these salespeople also. A suitable compensation system must, therefore, be devised to motivate them.
To understand why a big pay should not be a great part of an employer’s performance management, it is important to first understand what performance management is all about. Performance management has been defined above very simply. According to the Australian Government, performance management is the process of setting goals and measuring the performance of your employees against them (Australian Government, 2007). Performance management involves measuring your employees’ success. how far or near they are from reaching the goals set by their leader.
Like mentioned earlier, performance management, if carried out effectively, is beneficial for both the employer and the employees. It makes sense why it benefits the employer. goals are met, targets are achieved, what was expected out of the employees is reaped so your and finally and ultimately profits are gain. As a result, the organization is able to keep hold of its most competitive employees. But how does performance management, help employees? First of all, it gives them the ability to reach goals.
