Chapter 1 - Performance Management Flashcards
What is performance management and reward?
A process which contributes to effective management of individuals and teams achieve performance
What is the aim of performance and reward management
It establishes shared understanding about what is achieved and a approach to leading and developing people to ensure that it is achieved.
What is the difference between content and process theory?
Content theory focuses on the reason for human needs changing
Process theory focuses on the psychological processes which affect motivation, with regard to the expectations, goals and perceptions of equity.
What is content theory
An example
It outlines the reasons for motivating an individual, that means it explains the necessities and requirements that are essential to motivate a person.
Maslow hierarchy of needs
Hertzbergs two factor theory
Factors for satisfaction / factors for dissatisfaction
Achieve - company policies
Recognition - supervision
The work itself - relationship with supervisor
Advancement - salary
Growth - security
An example of process theory?
Reinforce theory argues that behaviour that results in rewarding consequences is likely to be repeated.
Expectancy theory indicates that ones level of motivation depends on attractiveness of rewards
Goal setting theory
Pay and reward?
Reward is an important part of the managing people strategy in an organisation
What is reward?
Martin et al (2010) reward consists of financial rewards and employee benefits. The system includes non-financial rewards, achievement, responsibility and personal growth) and in many cases performance management processes.
The term ‘reward’ covers financial provisions made employees including cash pay and wider benefits package. It can also include wider provision of non pay benefits. (CIPD 2015)
