Human Resources and Performance Management via Reward Systems Essay

Human Resources and Performance Management via Reward Systems - Essay Example The paper tells that in a business environment that has become increasingly globalized with a wide array of customer services demands and fierce competition between markets, organization performance and productivity has become the central focus of many organizations. Thus the objectives of the modern business organization are inevitably to improve performance with a view to remaining and or becoming competitive. In order to remain or become competitive, organizations are persistently seeking ways to enhance performance. This report intends to demonstrate how performance management via a rewards system can enhance organizational performance. It is first necessary to establish how a performance management can be structured so as to include a rewards system. Thus three of the main components of performance management systems will be evaluated. Ideally, a performance management system begins with performance planning, and branches off into performance appraisal/reviewing followed by feed back/counseling and performance facilitation which is in turn followed by rewarding, performance improvement plans, and potential appraisal. Together these components of performance management systems signify an organization driven by high performance systems if managed effectively and efficiently. Thus activities, practices and policies of any performance management system must be comprised of each of these components. ... Three major components of performance management systems will be evaluated. This will be followed by an evaluation of the link between motivation and performance management. The final part of this report sets out a description and evaluation of a total rewards system linked to performance management. Performance Management Systems In a business environment that has become increasingly globalized with a wide array of customer services demands and fierce competition between markets, organization performance and productivity has become the central focus of many organizations (Becker & Gerhart, 1996). Thus the objectives of the modern business organization are inevitably to improve performance with a view to remaining and or becoming competitive. In order to remain or become competitive, organizations are persistently seeking ways to enhance performance (Becker & Gerhart, 1996). This report intends to demonstrate how performance management via a rewards system can enhance organizational performance. It is first necessary to establish how a performance management can be structured so as to include a rewards system. Thus three of the main components of performance management systems will be evaluated. Ideally, a performance management system begins with performance planning, and branches off into performance appraisal/reviewing followed by feedback/counseling and performance facilitation which is in turn followed by rewarding, performance improvement plans, and potential appraisal (Armstrong, 2005). Together these components of performance management systems signify an organization driven by high performance systems if managed