Performance Management System: Tesco

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Table of Contents INTRODUCTION: TESCO 2 PERFORMANCE MANAGEMENT SYSTEM AND REWARD STRATEGY 3 APPROPRIATNESS AND EFFECTIVENESS FOR REWARD STRATEGY AND PERFORMANCE APPRAISAL SYSTEM 7 RECOMMENDATION 8 CONCLUSION 10 REFERENCE 11 APPENDIX 14 INTRODUCTION: TESCO Tesco operates in 13 countries and is the biggest private sector in the United Kingdom (UK). They have employed 366,000 people worldwide in 2365 stores operating in Malaysia, Poland, Hungary, China, Japan, South Korea, Thailand, UK, Czech Republic, republic of Ireland, Slovakia, Turkey, and Taiwan, with total sales of 37,070 million pounds. Tesco has built a lot on the strength that has developed as a market leader in the UK supermarket sector. Tesco makes sure their business all over…show more content…
The system needs to be productive or it will be a waste of money and time, this makes a virtual as a potential to refine employee’s performance. The performance appraisal will lead to a behavioral change when an individual accepts the system (A. Elverfeldt, 2005). The system used in performance appraisal has the roots and become more powerful in almost all the organization through the world. These are the assessment of the performance of an employee or employer, whom one is concern about (D. Goel, 2010). According to E. Lawler, G. Benson and M McDermott, 2012 performance appraisal is a censure powe of management practices, criticism ranging from an extensive waste of time to their having a negative impact on the correlation between managers and their subordinates. However in evaluating performance at Tesco, they utilize 360-degree feedback system and Balance scorecard as their performance appraising system (Tesco,…show more content…
The performance appraisal system is used to measure and develop the employee performance. It helped in the standardization within the organization, improve open communication among the employees and employer, it has developed and improve the due process within the organization (R. Mondy, 2010). 360-degree feedback has increase transparency among the employees as they receive their feedback among themselves that has brought out a high impact to the employees behavior and performance. According to Wadhwa, (2011) 360-degree feedback offers a huge and broader perspective of employee performance, as it doesn’t rely on one source feedback
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