Outline the purpose of performance management and its relationship to business objectives.
Part B (AC 1.1, 1.2, 1.3, 2.1, 2.2, 3.1, 3.2, 4.1) (2100 words)
The Managing Director of your organisation has requested the HR department to provide a Board report which outlines the process of linking organisational performance with reward and motivation. You have been asked to provide the following within the report:
Outline the purpose of performance management and its relationship to business objectives. (AC 1.1) (approx 200 words)
Highlight the components of performance management systems. (AC 1.2) (approx 200 words)
Explain the process and frequency of performance reviews and why they are important. (AC 4.1) (approx 200 words)
Outline 2 motivational theories and explain how they can be used in performance management systems. (AC 1.3) (approx 400 words)
Explain the purpose of reward within a performance management system. (AC 2.1) (approx 200 words)
Outline the pros and cons of using financial and non-financial rewards, providing 3 examples for each (AC 2.2). (approx 300 words)
Outline and assess the options available to the organisation seeking to review good and poor staff performance (AC 3.1). (approx 200 words)
Outline the tools and information necessary to carrying out an effective performance and reward management process. (AC 3.2) (approx 300 words)
Write a description of the learning process you went through in order to write this assignment: what you knew about your organisation’s performance and reward management systems before you attended module 2; what you learnt during the module; and what you learnt in preparing the assignment. (approx 100 words)
You should also include 3-5 references from up-to-date and relevant sources in order to support your findings. Please ensure that all reference sources are acknowledged correctly within the text and on a reference list provided.
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