AOS2 - Managing Employees Part 2 Flashcards
Explain what Performance Management is and its ultimate aim?
Performance Management is an assessment of employee’s present work performance and how it can be directed in the future to achieve business objectives. Its main aim is to achieve the maximum performance levels that are possible from employees.
What are the benefits of Performance Management?
- more realistic objectives resulting in higher levels of performance attained
- improves communication
Explain what Management by Objectives (Peter Drucker, 1954) is and how it works?
where the manager and employee collaboratively set clear objectives
They are then evaluated against set objectives and provided feedback on performance
What are the Advantages and Disadvantages of Management by Objectives?
A: • employee involvement
• sequential nature less confusion
D: • Time Consuming
• unrealistic, demotivated
What is Performance Appraisal?
Performance Appraisals is a strategy that measures how well an employee has performed their job against pre-determined standards, which then provides feedback for the future.
What are the Advantages and Disadvantages of Performance Appraisal?
A: • Direct Feedback
• basis for remuneration, promotion etc.
D: • If not done right can create a negative experience
• Overwhelming for managers with many employees
What is Self-Evaluation and when is it completed?
Self-Evaluation is a strategy that gives employees an opportunity to self-assess their predetermined objectives and their contribution to the business. It is important to note that this is done prior to a manager/employee discussion.
What are the Advantages and Disadvantages of Self-Evaluation?
A: • Opportunity to document their achievements
• Receiving the employee viewpoint, business development
D: • Personal perception
• Subjective, over-evaluate
What is Employee Observation and describe 360-degree feedback?
Employee Observation is a strategy where employee’s performance is evaluated by watching them undertake their work. 360 degree feedback involves acquiring feedback from different stakeholders that have direct contact with the employee
What are the Advantages and Disadvantages of Employee Observation?
A: • Objective
• No need for a manager
D: • Reactivity
• Increased nervousness and mistrust,privacy being invaded
What is Termination?
Termination is the ending of an employment contract (voluntary or involuntary) and the employee ceases work at the business. N.T. During termination, it is important that the employee is treated fairly and lawfully.
What is Retirement?
Retirement is when the employee decides to permanently leave the paid workforce.
What is Resignation?
Resignation is when the employee willingly leaves the business
What is Redundancy?
Redundancy is when an employee leaves the business because their job no longer exists
What is Dismissal?
Dismissal is when an employee is terminated due to unacceptable behaviour or performance (N.T. Can be Summary or On-Notice)
What are the Entitlements and Transition Issues involved with Retirement?
Entitlements: 9.5% Minimum Superannuation, Annual and Long Service Leave (if accrued)
Transition Issues: Counselling, Investment Advice Services, Succession Planning
What are the Entitlements and Transition Issues involved with Resignation?
Entitlements: Payment for Completed Work, Annual & Long Service Leave (if accrued)
Transition Issues: Succession Planning
What are the Entitlements and Transition Issues involved with Redundancy?
Entitlements: Redundancy Package, Notice, Payment for Completed Work,
Transition Issues: Counselling, Outplacement Services, Career or Financial Advice, Training