Reward And Performance Essay

3674 words - 15 pages


Arun Paul Jerine F11069

Key Inferences 8
Steps in the Implementation Process 8
Important aspects of 360 degree method in Blue Star Ltd: 9
Definitions of Management by Objectives MBO 10
Features of Management by Objectives MBO:- 11
Steps In Management By Objectives 11
Advantages of Management by Objectives MBO 13
Limitations of Management by Objectives MBO 14
...view middle of the document...

It is a process which contributes to the effective management of individuals and teams in order to achieve improved levels of individual and organisational performance and its development. Performance management is all about establishing a culture where individuals and teams take responsibility for continuous improvement of service delivery and of their own skills, behaviour and contributions. It is therefore a complete strategic process, long term in nature, aimed at the development of an appropriate culture linking people management, service issues and long term goals. It is not a once off quick fix process as it is a long term one.

Performance management can be also defined as the process of “identifying the objectives, measuring them, managing, and developing the performance of the human resources in a company”. The criticisms are given and a choice is made about training the employee, transferring, promoting to higher levels, demoting or terminating the contract of an individual. Performance management has the potential to improve the performance of the organization and act as a lever to achieve cultural change in the organization. Thus a focus on performance can bring rewards for the organization. And it impacts organization success, individual careers and a manager’s reason for his existence. A successful performance management system is all about being clear about the performance .It is highly important that the organization must understand that it must be in its performance culture. The system should be focused on how individual employees will benefit and play their part in the process.


Feedback Mechanisms:
These performance measures provide feedback to the employees serving to them as vehicles for personal and career development.
Documentation Concern:
The main purpose of this concern is to keep a clear and crisp document support for the entire performance management process that happens. The Documentation helps the organization in supporting its legal aspects.
Development Concern:
It helps the organization to find out where the employee needs development and in turn on which department it could help the organization.
Identifying the organizational needs:
The organizations needs to identify the problems and make use of the system to design their training needs etc.
Employment Decisions
Promotions and Demotions can be made based on the performance management systems.


Blue Star is one of the India's largest central air-conditioning companies with an annual turnover of Rs 2300 crores, a linkage of 24 offices, 5 modern manufacturing facilities, 650 brokers and around 2600 employees. Blue Star fulfils the air-conditioning needs of a large number of corporate and commercial customers and has also established leadership in the field of commercial refrigeration equipment ranging from water coolers to cold...

Other Essays Like Reward and Performance

Would a Pay-for-Performance Scheme Increase Students’ Motivation to Perform Well on a Certain Course?

1305 words - 6 pages aiming to satisfy higher intrinsic needs. To challenge this there is significant evidence, specifically demonstrated by the scholar Marsden[2], that young people are motivated by money thus providing a persuasive argument as to why a pay-for-performance scheme may increase ID200 student motivation. In addition, the reward as a cash payment is particularly appealing. As Sanchez-Runde and Steers observed, “Swedes will typically prefer additional

Rewards 2025- the Only Way Is Ethics

576 words - 3 pages deserve. Rewards are a powerful method for encouraging good job performance. Good work may not be repeated and employees can upset customers when managers don’t recognize, encourage, and reward them for job performance that meets or exceeds customers’ expectations. But these rewards must be used effectively.  Every company needs a strategic reward system for employees that address these four areas: compensation, benefits, recognition and

Jinnikins Jeans

2156 words - 9 pages like money or intrinsically like training and development. Reward Management Reward management is about the development, implementation, maintenance , communication and evaluation of reward processes. These processes deal with the assessment of relative job values , the design and management of pay structures , performance management , paying for performance , competence or skill , the provision of employee benefits and pensions , and the

Teamwork Affects the Bottom Line

1020 words - 5 pages the success of project going live is depending on their efforts and performance not just depending on an individual in the team. This project management team will do their job together with collective efforts and they should get reward due to success of implementation. I believe after reading this article that purposeless joint effort affects overall efficiency and capability of individuals in a department with impact on organization’s income

Hovey & Beard Company

655 words - 3 pages communication can lead to different views on job requirements and goals between manager and subordinate. 2. Incentive problems, subordinate does not feel his/her job performance makes a difference, he/she has not been given enough feed back or reinforcements , no reward system either intrinsic or extrinsic from management. 3 Salience problem, a subordinate questioning whether or not rewards/incentives are worth his/her job performance. Manager may

Eurocap Bank (Part 2)

1355 words - 6 pages should incorporate client feedback such as quality of research, measure the volume of visit arranged for client and clients satisfaction to evaluate investment and research analysts’ performance. Medium Term 1. Implement a cash and stock bonus plan with a vesting period (this entails increasing the stock options given to the employee) 2. Introduce a team-based reward system along with individual program to encourage and maintain team coherence

Let1 Task 3

626 words - 3 pages . The Marketing Manager is the boss of the department that Employee 1 is a part of. The Market Manager also has Reward and Coercive Power over Employee 1. Employee 1 performs his job and stays for longer than 40 hours per week in order to receive a high performance rating from the Marketing Manager. The high performance rating allows Employee 1 to receive a bonus. The Marketing Manager also has Coercive Power in the relationship with Employee 1

External and internal equity

279 words - 2 pages Implementing pay for performance plans, good management, and incentive plans will motivate personnel to perform at the peak levels necessary to bring about improvement in the bottom line which is what interests most corporations.Merit pay systems which are based on past performance are flawed by their very nature and do not work effectively as a reward system. These systems provide a supervisor with a means of escape from the proper practice of

Leading an Organization

2434 words - 10 pages that the reward given for improved performance is attractive enough. When effort, performance, and outcome are high, employee motivation will ultimately be high (Illuminations, 2002). As easy as this formula may seem to be, it is imperative that the management creates and maintains a strong link between high effort and high performance. Expectancy theory is based on myriad assumptions the first being that people join organizations with

Chern's Case Study Ch.4

546 words - 3 pages process cash or credit payments. The requirement is that each sales associate have a minimum of a High School Diploma and a minimum of a year of experience in the retail industry. In order to ensure that each sales associate is in synergy with Chern’s corporate goals, the training will be provided for all new hires. Job Reward Matrix for Sale Associate |Reward |Amount |Differential


601 words - 3 pages will be readily available to him. This case differ from a reward situation because there was no reward offered by Pepsi Co. at any time. It was only meant to be an advertisement. Reference Cheeseman, H. (2009). Contemporary business and online commerce law: Legal, internet, ethical, and global environments (6th ed). Upper Saddle River, NJ. Pearson Prentice Hall.    

Related Papers

Human Resource Development, Performance And Reward Management

2192 words - 9 pages Managing Human Resources HRD, Performance and Reward Management The current Coles regional store manager is currently underperforming in the role the company has assigned for them. As this position of regional store manager plays a key role in Coles achieving its organisational objectives through inspiring, engaging and leading a team of staff to embrace and demonstrate the above values. (Nanverkis, Baird, Coffey, & Shields, 2014

The Effect Of Employee Engagement In Reward Systems And Performance Management

988 words - 4 pages The Effect of Employee Engagement In Reward Systems and Performance Management Introduction The success of any organization rests on the strategic management of its employees. It’s vital for an organization to attract, motivate and retain the best talent available to achieve and sustain a long-term competitive advantage. To achieve this the Human Resources Department must design a performance management system that not only links employee

Reward Program Essay

980 words - 4 pages coaching and/or provide a short presentation to other members of the work team on an area of their expertise ( Work shadowing a member of staff ( Paid trips to professional meetings Tips for team leaders To recognise and reward performance skilfully is a difficult and complex task, and team leaders should consider the following: ( Every team member is different and needs to be recognised for good performance in a different way ( Team

Improving Organizational Effectiveness Essay

1361 words - 6 pages comprehensive approach was needed to manage and reward performance and the implementation of Human Resource management as a strategic driver in development of employees and the understanding that managing performance of employees is done throughout the year instead of once annually were two factors. Performance management is a key tool for delivering better outcomes and one of the first steps is planning the work and setting expectations of your