Goal setting strategies can be metrics established for performance, or a percentage increase in revenue dollars. A performance evaluation should be a time for the manager and employee to discuss the professional development of the employee as well as a means to establish strategic goals that will be used to measure development for peak performance. Morale improvement can also be a key contributor towards strategic achievements of the organization objectives. When performance appraisals are properly executed they can improve company morale and create motivation for employees. Managers identify the weak points in employees’ performance and then help to create a plan to combat the weakness.
It promotes retention of talent, promote customer loyalty and improve organizational performance and stakeholder value. Engagement is influenced by many factors like workplace culture, organizational communication and managerial styles to trust and respect, leadership and company reputation. For today’s different generations, access to training and career opportunities, work/life balance and empowerment to make decisions are important. Thus, to promote a culture of engagement, HR leads the way to design, measure and evaluate proactive workplace policies and practices that help attract and retain talent with skills and competencies necessary for growth and
• Work performance reports – These reports organize and summarize the information through the work performance data. To determine the recognition and to award for the team members, and to plan the future human resource needs on the project, this information can be used. These are the actual values to determine the variances from the baseline plan. • Organizational process assets – Organizational policies procedures and guidelines, historical information and lessons learned from the previous projects are consider to be the organizational process assets. These can be use as the templates for certificates of appreciation, newsletters, websites, bonus or other incentives.
What are the objectives of compensation programs? The main objectives of a compensation program are to attract and motivate employees to achieve retailer’s objectives and reward them for their effort that they have contributed to the company. In the developing process of a compensation program, the store manager must strike a balance between providing attractive compensation to retain the high quality good employees and the labor costs control. Compensation plans are most effective for motivating and retaining employees if the plan is fair and compensation is base on the employees work productivity that they have contributed to the company. There are several types of compensation plans.
It is reported that interests of employees, who auspiciously succeeded in fulfilling the commitments of their leaders or organization, are accommodated by giving contingent incentives, admiration and promises (Bass, 2000). Singer and Singer (1990) agreed that transactional leader motivates subordinates by negotiating and strategically supplying rewards for services provided in order to achieve goals of an organization. He clarifies the subordinates’ goals and arranges contingent rewards as inducements toward the achievement of the goals. Burns (1978) suggested that managers’ use rewards methods to increase the corporate performance by
By offering employees incentives such as share ownership or monetary bonuses, the common goal of the organisation can be integrated with the employee’s interests. Incentives are a good mechanism to create a positive working atmosphere within the organisation and a good way in instilling successful employee relations. Incentives such as profit sharing will give employees a financial stake within the organisation and job satisfaction as they feel valued and appreciated. When managing employee relations with a unitarist perspective, management focuses on different aspects of employee involvement and participation by delegating daily work activities to employees. The work activities are distributed to various teams with one common goal.
By planning forward HR insures that managers have the right amount of people they need, with the right skills and competencies to perform the job timely to achieve organization’s goals. Workforce planning at Asda is important for the company growth and the need to staff more professionally, closing the gap caused by colleague turnover. Workforce planning is essentially about determining the demand and supply of an organisation in reaching its goals and objectives and formulating a strategy to close the gap. This strategy will provide Asda the ability to exploit new markets earlier and respond better to recession as opposed to being on panic mode should a crisis or a new opportunity arise. (https://www.ukessays.com/essays/management/the-human-resource-planning) The main reasons for strategic HR planning are: • Manpower: Enough human resource must be available to carry out present and future organizational activities.
Researchers have shaped compelling evidence for the fundamental relation between employee performance and how management acts with them (Boheene & Asuinura, 2011). They claim that the effectiveness of human resource practices, particularly employee selection, performance appraisals, benefits and reward management, procedures and employee training and development often have a direct effect on the productivity and performance of the employee. And implementing an effective human resource management can enhance the organization 's ability to attract and maintain qualified and motivated employees yield greater profitability, low employee turnover and these invariably lead to higher productivity. The research noted that recruitment procedures that provide a large pool of qualified applicants, paired with a
they possess the required skills to perform that job. (Kinnie et al., 2004). Performance management enhances overall job satisfaction of the employees and induces leadership traits among them. This not only benefits the employees but entire organization. Performance management succors an organization to realize that which employees are high performers and are assets for that organization.
The study show on how organizational commitment may influence on retention, attendance and job productivity. According to McNeese-Smith (1995) if employees are morally committed to an organization, the increasing of like hood of retention, consistent attendance, and increased productivity can be expected. In addition, the studies also identify on organizational commitment that could interact with job satisfaction to affect turnover intention among employees. Organizational commitment is an attachment with organization (Mathieu, 1990). In simpler words, job satisfaction is linked to the job; organizational commitment emphasizes links to the organization (Lim, 2007).