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The role PM in Establishing and Maintaining Corporate Culture - Assignment Example

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This research presents the role of performance management (PM) in establishing and maintaining corporate culture. PM is known for its main goal of improving employee performance. With regard to maintaining corporate culture, it is argued that, through PM processes, a corporate culture can be developed and maintained. …
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The role PM in Establishing and Maintaining Corporate Culture
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The role PM in establishing and maintaining corporate culture Performance management (PM) is known for its main goal of improving employee performance. With regard to maintaining corporate culture, it is argued that, through PM processes, a corporate culture can be developed and maintained (Kavanagh, Thite and Johnson 448). This entails performance planning, performance observation, and positive feedback and or corrective feedback. With Grandview Global Financial Services operating in 45 locations across the world, it is apparent that having a unified corporate culture is not a simple task. This is arguably true because each of the 45 locations developed its own PM tools, which actually reflect the national culture including the past experiences of local employees. This reflected a great challenge in the effort to develop a unified, corporate culture. In this regard, PM can be argued to play a critical role especially if the Grandview wants to move away from local PM systems. PM systems and rewards would support a more unified culture and also help Grandview’s corporate strategy into individual performance plans worldwide. In fact, since performance goals are related to Grandview’s overall results, all functionality for unified employee performance and other incentives can be built into the performance systems (Kavanagh, Thite and Johnson 448). What is the role of compensation and benefits in establishing and maintaining corporate culture? Compensation systems such as base pay, short-term and long-term incentives, perquisites, merit pay, attraction and retention awards, and recognition awards play a critical role in establishing and maintaining corporate culture (Kavanagh, Thite and Johnson 458). Most importantly, each of these systems is built around specific processes, which in the case of Grandview, would help it come up with central hierarchy of value and individual job price for all branches across the globe. Additionally, it is also apparent that if Grandview adopted compensation systems in all its branches, a culture of attraction and retention of employees would be assured. For example, attraction and of retention awards would give the organization a reputable corporate picture to all inspiring and existing employees. On the other hand, benefits are argued to ensure that employees enjoys working in the organization since they are assured of continued income after retirement, they can continue earning income when they are unable to work until when they are able to work again, and that they and their families can obtain preventive and curative care (Kavanagh, Thite and Johnson 464). All these benefits can help Grandview develop a corporate culture if it prioritizes them. Does it make sense to try to maintain a common global process for managing each of these areas? Although Grandview has been experiencing difficulties with PM and reward systems due to differences in law, labor markets, and customs relevant to PM of different nations, it is necessary to have a common global process for managing these areas. The use of web-based and integrated PM and compensation system would help maintain a global process for managing these areas (Kavanagh, Thite and Johnson 476). For example, web-based and integrated PM system would be accessible by managers and their reports would be tied to corporate strategy to assess performance criteria and standards to look at current progress against standards. Additionally, the rewards and benefits modules, although based on local law and customs, would be standardized in order to unify rewards culture. In order to harmonize the variations that exist from one country to another, the HR managers can select a technology that is flexible enough so that they can be making yearly changes depending on legal and other requirements of different locations in order to incorporate them in the corporate system. Given all the cross-country differences, why would a global organization want to have a common human resource information system? Grandview can have a wide range of benefits if it put in place a common human resource information system. Firstly is apparent that performance results obtained from different locations would be used to generate a unified performance reviews and compensation plans for employees. Besides, a common human resource information system would help Grandview deliver valuable results to all human resource branches (Kavanagh, Thite and Johnson 447). When a global organization uses a common human resource system, it is easy for it to have a unified management, which aids making strategic decisions. Communication amongst all HR departments in the 45 locations would be enhanced through information sharing. It is also apparent that Grandview would reduce paper work and costs involved with it. As opposed to a situation where each of the 45 locations has to make its own decisions regarding employee performance and rewards system, thus delay in making decisions in the head office, a common human resource information system would facilitate decision making, hence saving time costs. Works cited: Kavanagh, Michael; Thite, Mohan and Johnson, Richard. Human resource information systems: basics, applications, and future directions. Thousand Oaks, Calif.: SAGE, 2012. Print. Read More
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