Compensation And Performance Management (Essay Sample)
Consider five relevant resources that you will use for your final project. Construct a bibliography and a thesis statement that will start your project. This assignment should include:
Reference cited page/bibliography
Portfolio Project: As a human resource professional, your organization has asked you to research compensation, performance management, coaching, and motivation.
Construct a research report that is 7-10 pages in length that analyzes the following:
Performance management systems
Theory and concepts that impact performance and compensation systems
Recommend performance management systems that consider compensation factors
Compensation and Performance Management
The performance and compensation management systems allow us to track our workers' performance and develop robust and comprehensive strategies for them to improve. To achieve the desired goals, companies must pay competitive salaries to workers based on their performance (Bhupen, 2015). Plus, weekly or monthly bonuses can motivate them to work hard and devote themselves to the prosperity and welfare of the organization. The systems are specifically designed and introduced to retain top-performing workers, control costs and motivate the desired performance (Ghalawat, Girdhar, Dhingra, & Mehla, 2014).
If an organization wants to increase or decrease salaries based on performance, it has to develop strong concepts and strategies that don't impact its overall system. For instance, the company should have clear objectives and take actions against lazy and irresponsible workers. Similarly, they can increase the salaries of hard-working and experienced employees and offer free transpiration and medical facilities to motivate them. T
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