HBO FINALS(PERFORMANCE MANAGEMENT AND REWARDS) Flashcards
Refers to procedures and systems designed to improve employee outputs and performance, often through use of economic incentives.
A strategic approach to creating and sustaining improved performance in employees, leading to an increase in the effectiveness of companies.
Performance Management
Employing the right people at a right place and at a right time. An operation of recruiting employees by evaluating their skills, knowledge, and then offering them specific job roles accordingly. The main goal of staff is to fill the various roles within the company with suitable candidates.
Staffing
Types of Staffing
Job Analysis
Recruitment
Selection
Orientation
Placement
Training and Career Planning Development
Training
Development
Career Management
To meet the current jobs
Training
To meet current and future jobs. For employees to learn and grow.
Development
Investing resources for personal goal. Meeting of individual goal and organization goal.
Career Management
Types of Performance
*Employment Status
*Employment Period
*Performance Appraisal
*Feedback
*Performance Improvement
*End of Employment
Rates to how individuals perform in their job duties. The accomplishment of the assigned tasks at work.
Performance
Process of evaluating the performance of employees, sharing information with them, and searching ways to improve performance.
Performance Appraisal
Functions of Performance Appraisal
*To give employees feedback on performance.
*To identify the employees development needs.
*To make promotion and rewards decisions.
*To make demotion and termination decisions.
*To develop information about the organizations selection and placement decisions.
Criteria for Performance Appraisal
*Individual Task Outcomes
*Behaviors in dealing with the jobs
*Personal Traits
The process of Performance Appraisal
*Establishment of performance standards.
*Mutually set measurable goals.
*Measure actual performance.
*Compare actual performance with standards.
*Discuss the appraisal with the employee.
*If necessary, initiate corrective action.
Methods of Performance Appraisal
*Absolute Standards
*Objectives
*Relative Standards
Errors in Performance Appraisal
*Halo Error
*Leniency Error
*Central Tendency Error
*Recency Error
*Personal Bias Error
An incentive plan to reinforce the desirable behavior of workers or employers and in return for their service to the organization.
Rewards
Types of Organizational Incentives
*Intrinsic or Extrinsic
*Financial or Non-Financial
*Performance-based or membership based
