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Performance management systems - Essay Example

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In the paper “Performance management systems” the author highlights different components of performance management system. Performance management system helps to develop an environment where organizational performance can be enhanced and competitive advantage can be gained…
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Performance management systems
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Download file to see previous pages The causes and issues related to rewards and performance management system shall also be outlined in this particular study. There are two important components included within performance management system such as employee development and performance appraisal. It can be denoted as a mechanism to motivate employees so as to ensure that they perform well. In every organization there is a need to perform well and accomplish set organizational goals. To be more precise employees have to be highly motivated in order to reach targets and generate high profit margins for the company. Performance management system encompasses a wide array of activities required to address goals in most effective and efficient manner. This approach enables management to well align employees, resources and systems with strategic objectives. Performance management system comprises of multiple values like motivated workforce, improved control of management (2008) and generating high financial gains. Rewards or performance appraisal system ensures high degree of employee engagement. In this study, the first part will be literature review on performance management systems, its link to rewards and its possible strategic value. The second part shall be a reflective summary centered towards implications of findings on professional practice. Literature ReviewAccording to Zanko (2008), organizations basically witness various competitive conditions and this in turn requires continuous improvement in the workplace. ...Download file to see next pagesRead More
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